Budget Deficit Is Shrinking

Here is a little tidbit that no one else here on the Forum of Gloom will tell you; The federal budget deficit is shrinking!

http://blogs.wsj.com/economics/2013/04/11/budget-deficit-is-shrinking/

What will Paul Ryan and the rest of the deficit scolds do?

"While these deficit numbers are, without question, a legitimate improvement, they are deficits none the less— which means the nation’s debt continues to grow. What’s more, the CBO projects that the good news will—if we remain on our current trajectory—turn negative in fiscal year 2015 and begin climbing once again unless we do something to cut spending, increase revenues or find some combination of the two."

Forbes

That can’t possibly be true. One thing you liberals have been whining about is that a falling federal spending will result in an economic crash and less revenues.

Is Obama now taking credit for the sequester?

It is really nothing to celebrate when the reason for the reduction is the federal government taking more money from taxpayer pockets. Keep in mind they are still 3 times the size of deficits under Bush.

News Buzzard wrote:"...The federal budget deficit is shrinking...!"

♪ ♪ ♪ Happy Days Are Here Again! ♪♪

And in a further development, the Congressional Budget Office has updated it's prediction for fiscal 2013 and now says that the deficit for this year will come in at $642 billion, or 24% lower than the $845 billion it had predicted a couple of months ago:

http://www.kpcnews.com/news/nation_world/article_76c33fda-a10e-5465-bd4a-7a343efdfc17.html

That pretty much dissolves the anticipated budget crisis for this summer.