Budget Deficit

from the Skeptical Optimist, once again.

May economic numbers are in, and what do you know, the GDP-Debt ratio went down again - -to 65.!1 from 65.5%. Tax receipts again outpaced the growth of the debt, as the strong preformance of the US economy continues unabated. He would like the debt number to shrink to about 60%, which it appears we may be trending, although he cautions that the May numbers may not be indicative due to a traditional spending lull. He believes the numbers may jump back to near their previous one, but we'll have to wait and see. Until I hear differently, I would assume he is still showing the budget in balance sometime before the 2008 elections given the current tax and spending trends.