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Overall, Treasury said higher receipts accounted for 79% of the decline in the deficit from Several factors have contributed to the strong improvement in the nation's near-term fiscal picture. They include an improving economy and a mix of fiscal restraint -- primarily, the expiration of stimulus measures, the imposition of across-the-board budget cuts known as the sequester, and tax increases on high-income households during the 2013 fiscal year....
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It seems that stimulating the economy briefly, then cutting spending, ending unnecessary wars, raising revenue by eliminating unfunded tax cuts and plenty of pork reduction is actually a good way to spur economic recovery. Who woulda thunk it?!
Now if they would put capitalization requirements for banks in place, stop threatening that we won't pay our debts, and regulate new paper bubbles like the student loan market to prevent the next crash, I'd be optimistic for a change.
