Incredible Shrinking Deficit

The New York Sun reports:

2004 - $413 billion
2005 - $318 billion
2006 - $248 billion
2007 - $205 billion

The New York Times's Paul Krugman, in December, wrote that President Bush "plunged the budget deep into deficit by cutting taxes on dividends and capital gains even as he took the country into a disastrous war." Senator Clinton went to the Senate floor in February of this year to speak of the "fiscal recklessness" of the Bush administration, which she charged had contributed to "record deficits." In March, Senator Schumer, who is now the chairman of Congress's Joint Economic Committee, spoke of "budget excesses of the past six years" that have brought us "a mounting debt to the rest of the world."

But as the shrinking figures above show, in fact the deficit is shrinking. When you look at it as a percentage of GDP, the decline is even more striking:

2004 - 3.6%
2005 - 2.6%
2006 - 1.9%
2007 - 1.5%

No word yet from Paul Krugman.But,we'll bet soon we will be told socialist health care is a great "investment" that's affordable.