don't believe a word they say. If you actually delve further into the Wall Street Journal (print edition) you'll find a couple of reasons why it's hooey:

1. the "deficits" are always "projected" much bigger and then end up "smaller" - look at each year and you'll see they do this every year, so that you won't be shocked by HOW FRICKIN BIG THE DEFICITS ACTUALLY ARE!

2. the tax cut phenomenon has only been positive for one to two quarters over a five plus year period - most years it made the deficit even WORSE.

3. the Iraq War and a number of other things are STILL OFF BUDGET - they are just using your Social Security reserves to pay for those - they are NOT part of the budget, even now.

It's very simple. You overestimate the deficit and underestimate the incoming revenue, and then Voila! Instant sound btyte: Everything is great! The deficit is under control! Our tax cuts worked!

You can tell a Retardlican ANYTHING, and they'll believe it, as long as you are white and wearing a suit. Throw in a reference to Jesus, and a lot of them will give you 10% of their earnings.

Um, *tax cut* is short hand for *tax percentage cut*. Revenue = amt * qty. The QTY went up becuase income did.
Most of the arguing back and forth about the accurace of the White House's versus the Congresses deficit estimates boil down to different predictions about growth or the lack there of.

Plus, don't forget than Bush inherited a budget surplus. So on the surface he is bragging about paying off 25% of his 5 year beer tab.

Sure the surplus was a bit of smoke in mirrors, but $0 is better a trick than $295 billion.

Right, but income going up doesn't mean income went up for all quartiles, it means total gross income went up.

Let me demonstrate:

We have a town called Liberalville. It has 5,000 people. One of those people makes 1,000,000 a year (they don't overpay CEOs), 499 people make 100,000 a year, and 2,000 people make 50,000 a year. The rest are kids or retirees (not included in taxable income).

We have another town call Neoconville. It has 5,000 people. One of those people makes 10,000,000 a year (they do overpay CEOs), 499 people make 100,000 a year, 1,000 people make 50,000 a year, and 1,000 people make 41,000 a year.

Town A, Liberalville decides to tax those making more than 100,000 50 percent of the amount over 100,000 and those making 50,000 or less only 25 percent, while those in the 50,001 to 100,000 range are taxed at 40 percent.

Town B, NeoConville decides to tax those making more than 100,000 8 percent of the amount over 100,000 (using tax cuts) and taxes everyone else at the same rate (e.g. 40 percent in the median range, 25 percent in the lower range).

As a result, Town B ends up after a short while with 2 people making 5,000,000 a year, 1 person makin 1,000,000 a year, while Town A ends up with 1 person making 1,000,000 and the rest pretty much the same. This is due to the fact that Town B didn't tax people, but borrowed from the Social Security of the people in Town B who weren't millionaires (they don't pay SSI taxes beyond say $100,000 income).

Who is better off? NeoCons think that since we now have 3 millionaires, they are, even though 2,997 people (translation, the millionaire got richer, got married, and had a kid who he paid insane amounts to do zilch) are doing worse and have no retirement savings. Liberals have lots of retirement money saved up for everyone, and most people are doing better in their system than in NeoConville.

You see, NeoCons think there's just one pie, and they want the biggest slice. Liberals just make more pies and build pie cooperatives.

Mmmmm, pie cooperative! now i am hungry for pie.

MMMmmmmm! PIE!

Me want pie - NOW!

'lo Bob.

Everyone has known all along that the Bush deficit "projections" are a load of hooey. Even the OMB said they were unrealistic when they came out. Now, we find out that yes they were ludicrously wrong. The deficit is NOT SHRINKING, it's growing, and at an increased rate -- just not quite as much increased as they claimed it would be.

They are still lying irresponsible wasters.

Sorry, I shouldn't have posted the pie thing. It made me hungry.

Just imagine a big pile of money stretched all the way to the moon. Now imagine Bush lighting it on fire every year, and it's the money you thought you saved for retirement.

Bush is just pretending he was going to make the pile go around the moon and back, but always was just going to get to the moon.

Sometimes it gets a bit past the moon. But it's always pretty darned big. And Bush always lights it on fire and grins evilly when he does so. Sometimes he lets his friends take some of the pile away before it burns, but you'll never get any of it back.

There, that's the analogy.

Homeless people don't care about the deficit. They just want more pie.

Charles, drop the Marxist claptrap and read up on some actual economics. Things will make more sense to you then.