Budget Surplus In a Year?

J.J. Jackson* | February 22, 2007

Don’t hold your breath. Not with the tax and spend liberals on both sides of the isle in Congress.

Despite the ongoing costs of US military campaigns in Iraq and Afghanistan, the outlook for the federal budget has grown substantially brighter.

Tax revenues are rising much faster than spending, according to Treasury Department numbers released last week. The recent trend is strong enough that, were it to continue, the budget could move into surplus in barely a year, one economist calculates.

But I thought that growing revenues was not possible when we cut taxes? I thought that the Bush tax cuts would ruin the economy? Odd how letting people keep their own money has positive effect huh?

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