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. But wait- his Treasury Secretary's old outfit- Goldman Sachs- thinks there's something else going on. In a recent report, they wrote, "the most important contributor to higher profit margins over the past five years has been a decline in labor's share of national income." It could be that tax cuts had a marginal impact on profits, and therefore increased revenues collected on profits in the short term. But even the hardly liberal Goldman Sachs found that the main reason for higher profit margins is that corporations are squeezing what's left of the middle and lower class. Is that something the President should be proud of?