Proof that tax cuts don't work: Kudlow, the sharpest of the sharp reports

Here's one story you won't find in tomorrow's front pages: The US budget deficit is shrinking rapidly. Today's Treasury report on the nation's finances for December shows a fiscal 2005 year-to-date deficit that is already $11 billion less than last year's. After the first three months of the fiscal year beginning last October, cash outlays increased by 6.1% overall, while tax collections grew by 10.5%. Consequently, the 2005 deficit is on track to drop to $355 billion from $413 billion in FY 2004.

Translation: tax revenues are UP while tax rates are down. Shhhhh, don't tell the MSM. While all this is not reported, keep in mind that the Republicans are spending like no tomorrow. Tax collections are way up from workers, from business, and from the lower captial gains taxes----HOWEVER, but, see it's like this, and so on--

However, with the flood of new revenues, this year's federal budget is still overspending. Domestic non-entitlement program spending excluding homeland defense is rising at a 4.1 rate, more than twice the pace of core inflation.

Read his entire piece. We all sound like broken records regarding the bias of MSM, but to report this good news would make Democarats look wrong, and as we all know the Democrats are never wrong.