Tuesday, February 13, 2007
U.S. Economic News Good!
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Unemployment rate for January 2007 4.6 %. U.S. Department of Labor
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U.S. deficit down 57.2 percent FX Street:
The Treasury Department reported Monday that the deficit for the budget year that began Oct. 1 totals $42.2 billion, down 57.2 percent from the same period a year ago. The amount of revenues collected from October through January were up 9.7 percent from the same period a year ago, climbing to a record level for the period of $834.1 billion. Government spending also set a record for the period, but the growth was a slower 2.1 percent, pushing the total to $876.3 billion for the first four months of the current budget year.
The continued strong growth in revenues reflects the record profits corporations have been recording in recent years and low levels of unemployment, which means more Americans are working and paying taxes. For the full year, the Congressional Budget Office is forecasting that the budget deficit will shrink to around $200 billion. The deficit for the 2006 budget year, which ended last Sept. 30, was $247.7 billion, the lowest in four years.
Bill Clinton, in his wildest and wettest dreams didn't have this and yet, the Libs point to his eight years as the best economy ever! Lies, just lies from the Lefties.
None of this economic news will make Liberals happy. They'll respond with...are you ready...."LET'S RAISE TAXES!"
What exactly are you seeking congratulations for? Because the government is only going to raise the debt another $200 B this year? This is good news?
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