Sunny Days in Heaven
Spiritual/Political/Philosophical Blog on the Nature of Truth and Falsehood and Heaven

Tuesday, May 04, 2004  

Rejecting the gospel

I love to say that this will kill the liberals and lefties (is there really a difference between the two? A slight one, perhaps), but the fact is that facts don't matter to ideologues.

Nevertheless it may make it harder for them to increase taxes in the future, and make it easier to cut taxes (I hope, I pray, I yearn, I long for it).

Why? Because Bush's tax cuts are increasing tax revenue as promised and lowering the deficit.

Smaller-than-expected tax refunds and rising individual tax receipts will pare back federal borrowing significantly for the first half of this year and could reduce the $521 billion deficit projected for the fiscal year by as much as $100 billion, Treasury and congressional budget officials said yesterday.

"The 5.5 percent average [economic growth] pace in the latest three quarters was the largest since 1984," said Mark J. Warshawsky, assistant Treasury secretary for economic policy, in a statement to the department's borrowing advisory committee. "With the assistance of tax cuts, growth has become self-sustaining."

An improving picture could strengthen the political hands of the president and House Republican leaders as they wrangle with the Senate over more tax cuts . . .

The WaPo doesn't want to say that tax cuts spurred the economy and increased revenues, but the facts speak for themselves.

posted by Mark Butterworth | 1:31 PM |