Look for crowing from the Bush Adminstration this week. Government revenues are up. More revenue from the wealthy and businesses have helped take in more than $100 Billion more than previously projected by the Congressional budget office. No one projected the increase. This does not mean that we aren’t going to have a deficit this year. It just means that the deficit isn’t going over $300 billion.
Now, government revenues are still below what they were under Clinton. So? Look for the Bush Administration and the supply siders will try to convince everyone that their policies work. The evidence is clear. It didn’t work under Reagan or Bush I. It ain’t working now.