Good news for subsidy fans...
Tax receipts are sharply higher, surprising most analysts. Thanks to corporations and the very, very wealthy the deficit could fall below $300B even with the war and Katrina. While many on the right will point ot the fact that an enormous part (about 1/3) of our taxes is paid by the upper 1%, I can't help but think how lopsided income distribution has to be in order for that to be true.
Spending continues to grow faster of course, but this piece of data will inspire many election-anxious Congresshumans to put more shoats on feed for the upcoming Porkfest. Just in time for a new farm bill!
Jeez- I haven't used the word "shoat" for decades.