Cut Federal Taxes, Raise Federal Revenues...It's not rocket science.

White House Lowers '06 Deficit Estimate
Bush Says Tax Cuts Helping Economy

By Paul Blustein
Washington Post Staff Writer
Wednesday, July 12, 2006; Page D01

The Bush administration yesterday lowered its estimate of this year's federal budget deficit to $296 billion -- a figure that prompted the White House to claim vindication for its tax cuts, and Democrats to issue new denunciations of the nation's fiscal problems.

In its midyear report on the budget, the administration projected that tax revenue will increase 11 percent in the fiscal year that ends Sept. 30. That is "much better than we had projected, and it's helping us cut the budget deficit," President Bush said in a White House ceremony to release the report, which is usually a low-key midsummer event. So instead of the substantial increase from last year's $318.3 billion deficit that the administration and other forecasters predicted a few months ago, the 2006 deficit will fall by 7 percent, according to the new projection.

"Tax relief is working. The economy's growing. Revenues are up. The deficit is down," Bush said.

The president and his top aides tempered their enthusiasm by acknowledging that over the next several decades, the deficit outlook will drastically worsen as the nation bears the retirement and health-care costs of the baby boom generation.

Bush hinted that he is planning to tackle the long-term costs of Social Security, Medicare and Medicaid before the end of his second term. "It's so much easier to shove these problems down the road," he said. "We need to fix this for younger generations of Americans to come."

Hey Paul, Bush deserves credit, and tax-cuts do not require "vindication" as they have always worked to lower the deficit and raise federal revenues. Only blind committed socialists like yourself and the Democrats in Congress seem incapable of comprehending that simple fact.

Fact: Unemployment down to 4.6%, the lowest since 2000.
Fact: Federal revenues up 14.5% since last year.
Fact: GDP growing at 3.5% average annual rate for 18 consecutive quarters.

All the above at the same time we are fighting a war in Iraq, recovering from the worst terrorist attack in our nation's history, recovering from the worst national disaster to hit the United States in history, facing the highest gasoline prices in our nation's history, and while giving the American taxpayer the largest tax-cuts in 20 years (since Reagan).

The fact that Harry "the Nepotist" Reid and Nancy "the Wicked Witch of the Left" Pelosi live in denial doesn't make their wild and irrational claims true.

Full Story: Bush Continues to Win War on Deficit

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