The Babe Theory Of Political Movements.
Mar. 21, 2005 11:50 AM
Iran's Sham Election In Houston.
June 20, 2005 5:36 AM
Yes, Kanye, Bush Does Care.
Oct. 31, 2005 12:41 AM
Health Care vs. Wealth Care.
Nov. 23, 2005 3:28 PM
Americans Voting With Their Feet.
Nov. 30, 2005 1:33 PM
Idea Majorities Matter.
May 12, 2006 6:15 PM
Twilight Zone Economics.
Oct. 17, 2006 12:30 AM
The "Shrinking" Middle Class.
Dec. 13, 2006 1:01 PM
From Ashes, GOP Opportunities.
Dec. 18, 2006 6:37 PM
Battle Between Entitlements & Pork.
Dec. 21, 2006 12:31 PM
Let Economic Freedom Reign.
Dec. 22, 2006 10:22 PM
Biggest Health Care Moment In Decades.
July 25, 2007 4:32 PM
Unions Antithetical to Liberty.
May 28, 2008 11:12 PM
Right To Work States Rock.
June 9, 2008 12:25 PM
Social Security Reform Thursday.
March 13, 2008
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The Carnival Of Classiness.
Mar. 14, 2006
Quotational Therapy: Obama.
Apr. 4, 2008
Mainstream Melee: Wolfowitz.
May 19, 2007
Pundit Roundtable: Leaks.
July 9, 2006
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July 14, 2006
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Trivia Tidbit Of The Day: Part 214 -- Government Revenue Growth Continues To Outpace Spending Growth.
Spending Up, Revenues Further Up-
The Treasury Department this week released its first monthly statement for Fiscal Year 2006 (FY06). As was the case last year, Uncle Sam's earnings continue to increase faster than expenses.
In October 2004, which was the first month of Fiscal Year 2005 (FY05), the U.S. government had the following receipts and outlays (in millions):
In October 2005, which was the first month of Fiscal Year 2006 (FY06), the U.S. government had the following receipts and outlays (in millions):
Compared to last year at this point, revenues are up 9.2%, while spending is up 1.3%. This is particularly good news, as revenue growth outpaced spending growth last year, as well. So this is good news compounded on top of good news.
Sure, it's just one month, but it is a continuation of a trend that is encouraging for those who want to see an end to big budget deficits. It is also a continued vindication of President Bush's tax relief, which actually boosted government receipts to all-time highs.
The budget deficit fell last year from $412.8 billion to $318.6 billion, after being projected to rise substantially. If the trends hold up, we'll see a budget deficit in the two-hundred-something billion dollar range. With a 12+ trillion dollar economy, a $200-something billion deficit would, believe it or not, be historically very low.
Previous Trivia Tidbit: Military Demographics.
Posted by Will Franklin · 12 November 2005 10:37 AM
This is particularly good news.
I find nothing whatsoever "good" about taxes increasing faster than GDP.
Posted by: KipEsquire at November 12, 2005 11:40 AM
Who said anything about taxes increasing faster than GDP?
Posted by: Will Franklin at November 12, 2005 11:44 AM
Ya know, what we need is a civilian version of the BRAC. Instead of closing bases, they would recommend eliminating useless programs and consolidating redundant programs.
Posted by: V the K at November 12, 2005 02:21 PM
The problem is that when the economic slowdown comes the revenues will fall but the spending will not.
Even so the present trend is good. And we tend to live in the present.
Posted by: K at November 14, 2005 12:47 AM