[Extipletape]

The deficit for the first five months of the budget year is down sharply from a year ago as the growth in government tax collections continues to outpace growth in spending. Demonstrating once again how the government takes in more money in tax revenue when tax rates were lowered, not raised. That's the good part of the report.

The Treasury Department reported that the deficit from October through February totaled $162.2 billion, down 25.5 percent from the same period last year. It all sounds great, doesn't it?

But...............

That improvement came even though the deficit in February hit $120 billion, up 0.6 percent from last February's deficit of $119.2 billion. It would seem that the politicians haven't quite gotten the message that out of control spending and running up deficits are one of the reasons Americans lost confidence in the GOP.

Federal Deficit Down Sharply This Period