The CBO has released April's Monthly Budget Review. The short version: Revenues are higher this March than they were a year ago, thanks mostly to rising income and payroll taxes. The summary paragraph from the report: The federal government recorded a deficit of $257 billion for the first six months of fiscal year 2007, CBO estimates, $46 billion less than the shortfall incurred during the same period in 2006. Revenues have risen by 8 percent in the first half of the year, whereas outlays have grown by about 3 percent.