Well, once again we have good news on the deficit front.
Got that? Well, then, how about this?
WASHINGTON (AP) - The federal deficit is running sharply lower than last year even though spending in August set an all-time high, the government reported Thursday.
The Treasury Department said that the deficit through the first 11 months of this budget year totaled $274.4 billion, down 9.8 percent from the same period a year ago.
Analysts believe the deficit for all of 2007 will actually be even lower because they are forecasting a sizable surplus in the final month....
The government's books have been helped this year by record flows of tax receipts, which have continued even though economic growth has been reduced by a serious slump in housing.
The administration is projecting that the government's books will be in surplus by 2012 if Congress follows Bush's recommendations on spending restraint.Read it here.
Gee..., yet another apocalypse that hasn't happened and isn't going to.
What is it about today's political culture that induces normally intelligent people to invest themselves in all sorts of apocalyptic scenarios -- economic, military, environmental, cultural catastrophes --- that never pan out? Could the media have something to do with it?