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Born at the Crest of the Empire

Saturday, October 15, 2005

All hail the glorious leader. He is never wrong.

Hurrah, Hurrah.

Glorious leader is only spending $1,000 dollars per person this year in debt. He is truly a great and noble leader.

The United States trimmed its groaning budget deficit to 319 billion dollars in fiscal year 2005, the government announced, as swelling tax revenues partly offset heavy spending on defense and health care. .....

"While deficits are never welcome, the fact that we finished FY 2005 with a much lower-than-expected deficit is encouraging news," Treasury Secretary John Snow said in the year-end budget report. .....

This year's deficit of 319 billion dollars represents 2.6 percent of gross domestic product, the Treasury said. .....


Spratt said this year's gap was 588 billion dollars worse than the Bush administration had projected in its first budget in 2001.

"The administration assumed passage of its tax cuts, yet projected a surplus of 269 billion dollars in 2005," he said.

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