Do you pine for the good old days of federal budget surpluses? With higher taxpayer receipts, you don't need to turn back much further than last December:
The U.S. government ran a $1 billion budget surplus in December, helped by a rise in corporate tax payments, the Congressional Budget Office said in its latest budget report released on Friday. The surplus, which compared with an $18 billion deficit in the previous December, helped create a smaller fiscal deficit for the first three months of the 2005 fiscal year, than in the same quarter of the prior year.
Washington is still running a deficit — which may or may not particularly bother you — but with President Bush's tax cuts having already proved themselves on the economic side, we now have a demonstration of their fiscal benefits.