by Calculated Risk on 5/17/2006 05:24:00 PM

pgl at Angry Bear notes this comment from Treasury Secretary Snow:

"One thing is pretty clear. With these strong revenues and the continuing attention to spending, the deficit is getting on the right path," Snow said. "The president's target of cutting the deficit in half is going to be met - is going to be exceeded - and that will be done ahead of schedule."

Meanwhile, back in the REAL World ... the deficit will probably set another nominal record this year and will most likely increase significantly next year. The Bush Administration makes this false claim every year (sometimes several times per year).