The President is mighty proud of the new deficit numbers. In fact, he called a press conference to say that the tax cuts he pushed have generated the surge in revenue that's partly responsible for the lower deficit this year. Hmmmmm. Well, corporate profits have gone way up, it's true. And he did cut taxes on corporate profits. There's a correlation there, for sure.

President Bush on the Treasury's announcement that the FY 2006 budget deficit is $248 billion: First, I want to briefly mention that today we've released the actual budget numbers for the fiscal year that ended on September the 30th. These numbers show that we have now achieved our goal of cutting the federal budget deficit in half, and we've done it three years ahead of schedule.

Sen. Joseph Lieberman has proposed creating a tax credit for home purchases. The Tax Foundation says it's a really bad idea, because that type of tax credit could raise home prices.

Honestly, I’m a little concerned that the estate tax is hurting family-owned businesses. I read the following in a Wichita Eagle article, and suddenly it really hits home: There are numerous examples where families had to sell their businesses to pay taxes when the founder died and the estate was taxed, often at a rate of 50 percent. This happened to the Joe Robbie family in Miami, forcing the sale of the Miami Dolphins. It tears me up to know that the estate tax is forcing owners of professional football teams to sell their teams because they can’t foot the tax bill. So sad.