Once again the wisdom of cutting taxes and improving incentive pans out. The CBO says the federal budget deficit is going to be $100 billion less than expected. $100 billion here and $100 billion there and soon you’re talking real money. That spending restraint and economic growth is what created the late 90s surpluses ought to be instructive. Economic growth we have; now let’s get some spending restraint.
“The CBO report confirms the dramatic improvement in the 2005 deficit picture that the administration reported last month,” said Scott Milburn a spokesman for the White House budget office. “A strong economy fueled by tax relief is generating stronger-than-projected revenues.”