Earlier this week, the Bush Administration released updated deficit estimates for 2006, proving once again that Republican budget policies are out of touch with the economic realities facing hard-working Americans. President Bush and his Rubber Stamp Republican Congress have heaped mountains of debt onto the backs of our children and grandchildren, racking up a $296 billion budget deficit - the fourth largest deficit in history.

I'm confused as to why this sad piece of news sent the President and his friends in Congress to the streets, airwaves, and this blog to gloat. I guess when you have so little going right, you grab onto whatever you can. Furthermore, this is the third year in a row that the Administration's initial estimates were wildly inflated - the perfect setup to claim victory later in the year when the deficit "magically" shrinks.

Republicans are basically patting themselves on the back for deficits that they created. Their reckless tax breaks for million dollar estates and billion dollar corporations have been burying our children and grandchildren in debt for the past six years. Democrats don't find that cause for celebration.

They can spin the numbers however they want. But stagnant wages, low job creation, growing health care costs, and sky high gas prices do not make for a strong economy by any measure.