Washington, DC - Rep. Tom Price (GA-06-R) issued the following statement regarding news today that the Federal budget deficit has dropped to $248 billion. It demonstrates that Republican economic policies are working and the goal of cutting the deficit in half is three years ahead of schedule.

“Facts don’t lie – 37 straight months of job growth, low unemployment, falling gas prices, record revenues and today, a declining government deficit. The credit for this growing success is tax relief and sound economic policies,” said Price. “Democrats are under the misguided impression that shrinking the deficit and stimulating the economy can be done by raising taxes on families and small businesses – today’s news contradicts this approach. The evidence is crystal clear: Republican economic policies are expanding the economy.”

The White House today announced that the FY06 deficit is $248 billion, which is $71 billion less than the FY05 deficit. In February 2004, the White House pledged to cut the deficit in half from $521 billion, which was the projection for the FY04 deficit.

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