Next up, the Administration reports that America isn't as deep in the hole as previously suspected. We're only running a $296 Billion deficit. I mean, I'm not a absolute deficit hawk or anything, but I think you loose your mantle of 'fiscal conservative' when you turn a surplus into a deficit. The decider called this good news: "Economic growth fueled by tax relief has sent our tax revenues soaring."
'Cause we're supposed to be that much deeper in the hole. That's like wrecking a $50K Cadillac and saying to your parents: "The mechanic suspected I'd done $7000 worth of damage, but it turned out to be only $5000. I'm not such a bad driver after all. You should be happy!"
I'm inclined to agree with the Distinguished Gentleman, Rep. John Spratt Jr., Democrat of South Carolina:
"The 2006 deficit may be a bit lower, but it represents a $600 billion swing from the surplus projected in 2001. And a deficit of $296 billion is still a large deficit. In nominal terms, its one of the four largest in history,"True 'nuff.
Luckily, we've seen this before during Reagan and Bush I. Remember folks, the best way out of uncontrollable Republican deficit is to elect Southern Democrats to office and get us back to surplus land!