Oh, what a sad day for the socialists.
First, it seems the tax cuts are cutting away at the left's only real legitimate criticism of the Bush administration (deficit spending) as those dem der evil tax cuts prompted such economic growth that the deficit is expected to shrink because of unexpected tax revenues.
SECOND, it was the NEW YORK TIMES that wrote the article.
Of course, it's only the New York Times. Main stream media. You know, that ailing dinosaur that is about to become extinct.
And the reason it's about to become extinct is because of natural predators like myself can outdo them in accuracy and above all CHARTS!!!!
So here it is, the government deficit as a percent of GDP.
My favorite is how the deficit during WWII provides some excellent context as to just how expensive the "War in Iraq" is.
Of course the severity of the deficit during WWII warps and dwarfs other deficits, so I focused in on the last 30 years here;
2.3% of GDP?
Yeah, right, Laffer didn't know squat.