This artilce is from REdstate: http://www.redstate.com/story/2006/7/11/184018/298
Our state politicans should read this article. Maybe someone might get the idea that taxing us to death will not increase state revenues. Certain our governor has no clue.
First, a quick recap. One of Bush's 2004 campaign pledges was to reduce the federal deficit down to $260 billion by 2009.
At the beginning of 2004, the estimate deficit was $521 billion. When the official numbers came in after the September end of the FY, it was only $421 billion.
Then when the 2005 FY budget was released, it forecast an increase up to $427 billion. When the numbers came in at the end of the year, though, the actual deficit was down again to $319 billion!
Back in February when the FY2006 budget was released, an increase to $423 billion
was forecast. Now, however, due to larger than anticipated tax revenue
from corporations and wealthy Americans, the estimate has been
decreased to just $296 billion.
Proving three things:
- Bush is attempting to decrease the deficit (although I would like him to do it much faster),
- Lowering taxes increases tax revenue, and
- The MSM is so incredibly biased I can't believe anyone ever listens to them any longer:
ABCNews'
headline for this story: "Better Budget Forecast Still Shows Big Debt
Growth" with these clips from the article: "President Bush welcomed the
numbers as "good news for the American taxpayer." But is the news
really that rosy?
One
thing you won't hear from the White House today is this number:
$8,410,281,565,972.66. That's the total federal debt as of last Friday,
and it's a huge number -- $8.4 trillion."
Simply
incredible. This is great news, though, for those trying to urge the
GOP-controlled government to get the deficit under control. Now, I'd
like to see decreased spending be a factor in addition to the increased
tax revenues.