ABC NEWS TAKES GOOD ECONOMIC NEWS, TURNS IT NEGATIVE

Barely getting though a paragraph on the much lower than expected budget deficit before declaring “One thing you won't hear from the White House today is this number: $8,410,281,565,972.66. That's the total federal debt as of last Friday, and it's a huge number — $8.4 trillion.” The story gives praise to the Clinton era. This was their top online story first thing this morning. (ABC News) By contrast, CBS News played the story more objective, noting “when measured against the size of the economy — at 2.3 percent of gross domestic product — the 2006 deficit would be lower than the deficits of 17 of the past 25 years.” (CBS News) From Investors Business Daily: With individual taxes growing at a 10%-plus rate and corporate taxes rising at nearly 20%, America's booming economy is washing away federal red ink like a tsunami. (IBD)