Fiscal Deficits-Not to Worry

The impact of tax cuts generating more tax revenue is becoming evident as well as our growing robust economy. Courtesy of Instapundit a tidbit I hadn't seen elsewhere on December 2004 results at Latest News and Financial Information Reuters.com:

"WASHINGTON, Jan 7 (Reuters) - The U.S. government ran a $1 billion budget surplus in December, helped by a rise in corporate tax payments, the Congressional Budget Office said in its latest budget report released on Friday. The surplus, which compared with an $18 billion deficit in the previous December, helped create a smaller fiscal deficit for the first three months of the 2005 fiscal year, than in the same quarter of the prior year."

For you math majors that is upward turn of $19 Billion period v period Dec 03 to Dec 04. (Had John Kerry been elected this would have been top fold in most US newspapers). Nevertheless, more unreported good news. As a believer in supply-side economics, lower taxes and higher tax revenues make my heart beat happier.