Good financial news today

Gotta like that!

The Wall Street Journal has a commentary today about the current state of taxes and revenues in the United States government. All in all, it's looking like lots of economic good news. The article is pretty good, but if you don't want to take the time to read that, here are a few salient points:

• Tax revenues are up by record amounts since 2003 cuts (13% in 2006, and 15% in 2005)
  
• Annual economic growth has been strong (4% vs. 1.1% prior to 2003)
• Budget deficits are now much lower than expected, and below historical averages
  
• Individual incomes are up, so individual income tax payments are up 14% this year
• There are still long-term issues with Social Security and Medicare, in particular
• The Republicans take too much credit for this
• The Democrats spend too much effort claiming this doesn't matter
  
• 2003 tax cuts should be made permanent

I think I agree with most of the article, though I might quibble about some of the details. Still, it's good to see the positive economic news, and I like the fact that the tax cuts are in fact showing up as an economic positive and not just a personal benefit (although I am perfectly happy with the personal benefit as well...).

I now return you to your previously scheduled blog experience.