"Even with the extraordinary circumstances of the past year — including Hurricane Katrina and the ongoing War on Terror — we're seeing the deficit fall," said House Budget Committee Chairman Jim Nussle, R-Iowa. "Thanks to pro-growth policies and a responsible budget blueprint, we're on the right track, but we've got to remain diligent."
Democrats said a $260 billion deficit is nothing to crow about.
"The deficit for this year will be the sixth largest in history, and will stand a long way from the $236 billion surplus recorded in 2000, the last year of the Clinton Administration," said top House Budget Committee Democrat John Spratt Jr. of South Carolina.
Hmm...is the glass half empty or half full? I guess it depends on how you look at it.