Blogging Tory Darryl Wolk has one of those rare but adorable moments of BT lucidity:
Does anyone still think George Bush is a fiscal Conservative???
[U.S.] Budget deficit soars to $102.8 billion in July
Deficit is nearly triple that of July 2007.
WASHINGTON (AP) -- The government says the federal budget deficit soared in July, pushed higher by economic stimulus payments and $15 billion in outlays to protect depositors at failed banks.
The Treasury Department reported Tuesday that the deficit for July totaled $102.8 billion, nearly triple the $36.4 billion deficit recorded in July 2007.
The deficit beats the $97 billion gap that Wall Street economists had been expecting for July.
OK, now, Darryl, work with me:
[Canadian] Federal government runs $517M deficit in April, May
The federal government ran a deficit of $517 million over April and May [of 2008], the first two months of the current fiscal year, mainly due to lower corporate income tax and GST revenues.
Over the same time period last year, the government ran a $2.8 billion surplus
There's a pattern here, Darryl. I'll leave you to work it out on your own.