Or how our Federal Defecit is smaller than we expected.

Yes sir, you read that right. The fiscal year 2005 has a smaller defecit than was originally predicted by budget forecasters. And, it is lower than the defecit of fiscal year 2004. This is what Tom DeLay calls a “positive Republican agenda”.

While the $331 billion ranks among the highest deficits in dollar amounts, as a percentage of the economy, it is lower than deficits run up in the 1980s.

“The deficit we estimate to be $331 billion this year. That’s about 2.7 percent of GDP, 2.7 cents on the national dollar. That’s down from $412 billion last year, which was 3.6 percent of GDP, and it is also below our estimate done last March when we thought it would be in the vicinity of $390 billion,” Holtz-Eakin said.

Well, naturally, as you might expect, our dear friend John Spratt (House Budget Committee ranking Democrat, for those who aren’t as friendly with him as he might like) remains unimpressed. But you know, since these Democrats seem to have a knack for raising taxes (just look at Maine and Governor John Baldacci) one might expect them to not appreciate lower taxes and spending discipline. Despite the fact that DeLay has pointed out that both have spurred economic growth and helped to cut the defecit.

Guess you can’t please everyone. But then, that should be known by now.