Deficit News You Won't Hear on MessNBC!!!

Re(1): 'Montly Budget Review, May 2007', Congressional Budget Office
Re(2): 'Monthly Treasury Statement, April 2007', United States Treasury

Carnac must retire from the Federal Budget prognostication business...

I mentioned in an earlier post that BusHitler, the 'Great Monkey Ape', seemed to be streamlining the budget process. I even mentioned the whole TQM approach of measuring and managing processes. The fact that the woefully incompetent - and slow - Congressional Budget Office is quickly reviewing and posting information based on the Monthly Treasury Statement is testament to that fact that the budget process is now more manageable.

The CBO actually crunched and posted an adjustment to their estimates four days after the end of April. This is very good, and a very positive thang. But, if they did it right it does make predicting tax receipts and government expenditures a bit boring.

Oh well...

Here are the numbers:

	April	to Date	Change	Annual Projection
Revenues:	$385	$1,506	+11.3%	$2,677,533
Expenditures:	$209	$1,589	+2.9%	$2,731,353
Deficit:	$176 surplus	$83	-54.9%	$53,831

However, things are far bleaker if one uses the ratios from the remaining months as the determinant factors:

	April	to Date	Change	Annual Projection
Revenues:	$385	$1,506	+12.1%	$2,697,449
Expenditures:	$209	$1,589	+6.3%	$2,822,886
Deficit:	$176 surplus	$83	-49.6%	$125,437

This would incorporate the $100 Billion dollar Defense Supplimental. Even the DOD can only spend so much money a month on gold plated screwdrivers!!!

But, and this is a rather large sized but...

There is no additional Katrina money being spent!!!

Thus, I still lean toward my preseason pick of $68 Billion as the FY2007 deficit...

Oh, the humanity...

My guess is that we will hear nothing of this. I mean the gnashing of teeth over a deficit of 0.51% of GDP should be audible from the moon.

The end is near...

The end of annual deficits, I mean!!!