From al-Reuters:
The U.S. government posted a larger-than-expected budget surplus in June, propped up by higher quarterly business tax receipts, a government report released on Tuesday showed.
In the Treasury Department's monthly budget statement, June income outpaced spending by $19.14 billion, slightly less than the government's June 2003 surplus of $21.23 billion.
"What we are seeing is the impact of a good economy, the impact of extraordinarily strong corporate profits, and likely the impact of more people being caught in the alternative minimum tax," Drew Matus, financial markets economist at Lehman Brothers in New York, said in response to the report.
Matt's Chat
Now THIS is a step in the right direction. We still have a LONG way to go though, but the longest journey starts with the first step...Question: has anyone seen any old media reports on this? I mean like ABS, CBS, NBS, MSNBS, CNNBS, etcBS.? A surplus is a big deal...particularly in an election cycle...I wouldn't want to think that there was (gasp) media bias out there in TV land...
Mark's Remarks
No, the old media will sit on this like they tried to do to Reaganomics. Hopefully the word will get out. You know, I seem to remember a great man talking about government getting more revenues when taxes are lowered because businesses can invest more and reap more profit which can be taxed...who was that? Oh yeah, RONALD WILSON REAGAN. He was right in the 1980s, and George W. Bush's implementation of his ideas is right for today. We are getting money back against the deficit, as is shown by this report. Of course, liberals hate to be wrong so they will just ignore it and try to shout down the facts.
