I’ve just been crunching some numbers from the Congressional Budget Office. Through the first ten months of fiscal year 2007 the Federal budget has a deficit of $158 billion. Looking over the possible revenues and expenses for August and September (the government spends money from October 1^st through September 30^th) indicates a reasonable shot at the deficit for this fiscal year being at around $140 billion. This represents a reduction of over $100 billion from last years red ink of $248 billion. That would represent a decrease in borrowing as a fraction of GDP from 1.9 percent to around 1 percent. Anyone want to take odds that this does not make the front page of the newspaper?