The stock market is record territory today as the Dow Jones Industrial Average lurched past 12,000 this morning before retreating just below the threshold. It even poked up again just before noon. What a tease!

But of course the economy sucks and it's Bush's fault, right?

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In 2004, President Bush pledged to the American people that, if re-elected, he would seek to reduce the federal budget deficit by half before he left office in 2009.

Two years later, despite the Congress' spending spree and his refusal to veto any of it, Bush has kept yet another campaign promise - three years sooner than expected.

Today's deficit for the government fiscal year end close dated 9/30/06 has plunged to $247.7M.

And it wasn't magic. Nor was it some illusory anomaly like a dot.com bubble. It was tax cuts, which led to higher tax receipts.

Capt. Ed has more about the best economy that you're not hearing about.

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From Al-Rueters: Chavez says oil should not fall below $60 a barrel

AFP report this morning: Brent oil price dunks below 58 dollars in London

Tough shit, dude.

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Dow hits all-time record!

How's your 401K doin' these days?

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