WASHINGTON - The federal budget deficit, helped by a gusher of tax revenues, fell to $247.7 billion in 2006, the smallest amount of red ink in four years.The deficit for the budget year that ended Sept. 30 was 22.3 percent lower than the $318.7 billion imbalance for 2005, handing President Bush an economic bragging point as Republicans go into the final four weeks of a battle for control of Congress.
Bush called the 2006 outcome a "dramatic reduction" in the deficit which allowed him to fulfill his 2004 campaign pledge of cutting the deficit in half earlier than his original 2009 target date.
Take that, bitch Democrats. Lowering taxes DOES mean higher revenues. I realize it's difficult for you to understand why, but on the other hand, we've seen it often enough since Reagan did it in the '80's that we figure you should have gotten it by now.
