Deficit Falls to $205 Billion, Bush meets goal of halving deficit two years earlier than promised...

Deficit Falls to $205 Billion

Another favorite political talking point of Democrats is the federal deficit, which they scream about as if it has been getting worse by the minute. Never mind the fact that the country does have serious fiscal issues, specifically an unsustainable social security program, that the Democratic Party has been in blatant denial of since George W Bush decided to boldly embrace the issue following his 2004 re-election. Harry Reid, Nancy Pelosi and other party leaders instead find it more constructive to hammer away at an issue that clearly is not the greatest evidence of George Bush's mismanagement of anything, and in fact should end up being one of his parties strongest arguments that his tax cuts and economic growth plan is moving in the right direction.

Part of the reason the Left gets away with such gross distortion of fiscal facts is that people fail to understand that higher taxes does not automatically equal high government revenues. The Right has done an absolutely horrendous job building a buzz around Bush's wildly successful economic policies, and instead rely on subtle defections on the issue of Iraq to make headlines, which leaves the larger party in a precarious position going into the 2008 campaign. If the Republicans are duped into making Iraq and foreign policy the central issue of the campaign, in my opinion they will lose. Any successful Republican candidacy must embrace the economy, particularly the unprecedented success of the stock market, to convince voters that they are better off because of Republican economic priorities. As long as the Democrats are going to make healthcare the major domestic issue, which all of the major candidates seem intent on, any Republican armed with a coherent explanation of why this would be a disaster for the economy and stock market should be able to whether any disadvantage due to the war.

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