13 April 2010

Federal Budget Deficit Down

First there was the news that the economy created 180,000 net jobs last month, and now this:
The federal deficit is running significantly lower than it did last year, with the budget gap for the first half of fiscal 2010 down 8 percent. Officials attributed the results to higher tax revenue from increased employment, and to lower spending than projected on bailing out the financial system. If the trend continues for the rest of the year the 2010 deficit will be about $300 billion less than the administration's projection two months ago.
If you think these job creation and federal deficit numbers would have been the reality under a Republican administration, well, then I have a patch of Russian land off the coast of Alaska I'd like to sell you.