Deficit Falling...

The standard liberal narrative calls for a failing economy, driven by the failed policies of the Republican administration. The liberal lapdogs of the lamestream media pour out one stupid story after another, trying their best to stick to the narrative – despite all those pesky facts pointing the opposite way. Just about the only place in the media reporting those pesky facts is the Wall Street Journal. For instance, in this mornings paper I read this ($):

We hate to be the bearers of good news, but someone's got to do it: The Congressional Budget Office has released its preliminary estimates for Fiscal Year 2007 that ended September 30, and the federal budget deficit fell again, this time by 35% to $161 billion.

There's more to applaud, if you can stand it: Since 2004, deficit spending has tumbled by $251 billion, which is one of the most rapid three-year declines in U.S. history. The deficit as a share of the economy is down to 1.2%, or about half the average of the last 50 years. This improvement is especially remarkable given the $150 to $200 billion a year of post-9/11 expenses for homeland security and the wars in Iraq and Afghanistan.

Oh, this most definitely doesn't fit the narrative – those tax cuts were supposed to increase the deficit, not decrease it! Oops! Right about now, the liberals should be apologizing for their appalling ignorance of basic economics and their outrageous support of centrally-planned economies (given the abundant evidence of their utter failure). But I'm not holding my breath.

I shall be very sad to see all this progress disappear when (and if, of course) Hillary is elected. I fear she will dismantle the progress of the past 8 years in just a few weeks…