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Budget Deficit Shrinks

Location: Washington, DC

BUDGET DEFICIT SHRINKS -- (House of Representatives - July 14, 2005)

(Mrs. BLACKBURN asked and was given permission to address the House for 1 minute and to revise and extend her remarks.)

Mrs. BLACKBURN. Mr. Speaker, I am holding up today's Washington Post. There is an article here, ``Revenue Surge Shrinks the Deficit.'' Well, every day this week, I have come to the floor to talk about how tax reductions work and the growth that we are seeing in the economy.

Over the past 25 months, we have seen an average of 146,000 jobs created each month. We have near historic lows in unemployment. The GDP has been revised upward, and we are going to see a deficit that is about $100 billion less than projected. It just goes to show, when you give about 92 million Americans a tax cut, good things happen. They keep more money in their pockets, and we see jobs growth, economic growth, and we also see the deficit shrink.

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