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Spending rose 7.4 percent to a record $2.65 trillion. George W. Bush is delivering two years early on his promise to cut the deficit below 2 percent of gross domestic product, down from 3.6 percent in 2004. In February the Bush administration predicted a fiscal 2006 deficit of $423 billion, and then slashed the estimate to $296 billion in August amid record tax revenue. The Treasury on Sept 15 took in an unprecedented $85.8 billion in taxes, including a one-day record $71.8 billion in corporate taxes. Bush credited the "strong and growing" economy as helping to reduce the federal deficit.
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Common topics in this essay:
- U.S. Budget Deficit - Good or Bad?
- Budget Deficit
- Budget Deficit
- Deficit Spending: The Deficit Good Or Bad
- National Budget For The Fiscal 2006-2007: A Closer Look
- National Debt and Budget Deficit
- The Budgetary System Of Bangladesh & Remedies To Overcome Budget Deficit
- U.S. Federal Budget Deficit
- a billion dollars
- Budget Deficit & National Debt
- Budget Deficit & National Debt
- Deficit Spending
- The One Billion-Tree Campaign
- budget deficit
- Six Billion: A Warning To All
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