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1.15.2006
  US, 11 Billion Dollar Surplus For December
Well, we all know that when you cut taxes you cut revenues permanently, right? Well, that is what our lefties keep saying about the Bush tax cuts...how they have taken away revenues which will never come back unless we increase taxes again. Like to have an explanation for this, though:
The department said in its monthly budget report that government receipts surpassed spending by $10.98 billion last month. A year ago, the government ran a deficit of $2.85 billion in December.

The improvement reflected the fact that government receipts were up 12.1 percent from a year ago to $241.88 billion...

But that doesn't make sense - if we cut taxes then the revenues this year should be less than last year, right? How do we explain this $14 billion or so increase in December revenues from one year to the next? Is there a Money Fairy who comes down and gives Uncle Sam extra cash? You know, maybe there is something to that old supply side theory, after all...

 
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