(updated and bumped)
A balanced budget by June 2008?
AP reports that the Federal Budget Deficitis down by 25% in just one year:
The deficit for the first five months of the budget year is down sharply from a year ago as the growth in government tax collections continues to outpace growth in spending.
Advertisement - story continues below
The Treasury Department reported that the deficit from October through February totaled $162.2 billion, down 25.5 percent from the same period last year.
That improvement came even though the deficit in February hit $120 billion, up 0.6 percent from last February’s deficit of $119.2 billion.
The Anchoress comments.