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| Robust Economy Fuels Revenue Growth, Smaller Deficit |
October 06, 2006 |
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| 37 Straight Months of Job Growth
Washington, DC – Congresswoman Heather Wilson today welcomed the announcement that America`s strong economy is boosting federal revenue and shrinking the deficit, and stressed the importance of keeping successful growth policies in place.
The Congressional Budget Office (CBO) today announced that the deficit has dropped to $250 billion, nearly 30 percent under the $355 billion projected by the CBO just nine months ago.
“Today`s growing revenue and shrinking deficits are made possible by lower taxes on the working families and small businesses that drive our economy,” Wilson said. “We can`t turn back the clock to failed tax-and-spend policies. Instead, we should make the tax relief we have passed permanent.”
Maintaining steady growth, the U.S. economy has created jobs for 37 straight months. Unemployment is down to 4.6%, wages are rising, and energy prices are dropping again. Unemployment is lower than the average of the 1960s, 1970s, 1980s, and 1990s. Home ownership also remains near record highs.
“Albuquerque is a great place to build a business,” Wilson said. “Small businesses are the engine of our economy, and growth policies make a difference for them. Government doesn`t create wealth, but it can create an atmosphere for entrepreneurs and small businesses to create jobs. We should continue to encourage innovation, investment and expansion.”
Wilson says that we will continue seeing people hired by keeping taxes low and regulations fair for the small businesses that create seven of every 10 new jobs in America. She regularly tours area businesses to meet with employees and small business owners to have firsthand information about the growth outlook in New Mexico.
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