CRP Blog

Friday, October 12, 2007

White House Challenges Media for Ignoring Important News on Deficit

From the White House Office of Political Affairs

In Case The New York Times Editorial Board Missed It:
(And The Washington Post and Los Angeles Times News Pages, Too)

U.S. Budget Deficit Falls To Lowest Level In 5 Years

The Associated Press: "The U.S. budget deficit fell to $162.8 billion in the just-completed budget year, the lowest amount in five years." (Martin Crutsinger, "US Budget Deficit Falls To $162.8 Billion In 2007, Lowest Level In 5 Years," The Associated Press, 10/12/07)

Bloomberg: "The U.S. government posted the smallest budget deficit in five years as tax revenue reached a record." (John Brinsley, "U.S. 2007 Budget Deficit Falls To $163 Billion," Bloomberg, 10/11/07)

Reuters: "Federal tax receipts grew 6.7 percent in fiscal 2007 to a record $2.568 trillion..." ("U.S. Fiscal 2007 Budget Deficit Falls To $163 Bln," Reuters, 10/12/07)

The Wall Street Journal: "The federal deficit narrowed in fiscal 2007, the third straight annual reduction, as the continued economic recovery helped the growth of tax receipts outpace the growth of government spending." ("U.S. Budget Deficit Narrowed To Lowest Level In Years," The Wall Street Journal, 10/12/07)

The New York Times Editorial Board Ignores Yesterday's Report On The Reduced Deficit To Run More Pessimistic Commentary

New York Times Editorial Board: "But the economic arguments are nonsense, none more so than the claim … that lower tax rates will inevitably generate more tax revenues." (Editorial, "What, Me Worry?" The New York Times, 10/12/07)

The Washington Post And Los Angeles Times Apparently Did Not Believe Yesterday's News Warranted Space In Their Newspapers

The Washington Post: [No story]. (The Washington Post, 10/12/07)

Los Angeles Times: [No story]. (Los Angeles Times, 10/12/07)

Source: White House Office of Political Affairs

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