Deficit Shrinking, Contrary to Popular Opinion...

Yes, this is due in part to Bush's tax policies. Not entirely, of course, but the screaming about tax rebates hurting the Treasury were false. Actually, they were lies. WASHINGTON (AP) - Federal revenue collections hit an all-time high in April, contributing to a further improvement in the budget deficit for the year. Releasing its monthly budget report, the Treasury Department said Thursday that through the first seven months of this budget year, the deficit totals $80.8 billion, significantly below the $184.1 billion imbalance run up during the first seven months of the 2006 budget year. The Congressional Budget Office said that it now expects the deficit for all of 2007 to total between $150 billion and $200 billion. That would be a significant improvement from last year's deficit of $248.2 billion, which had been the lowest imbalance in four years. FULL STORY at BREITBART...