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By Andrew P. Napolitano
Obama's veil of secrecy is pierced
Topic - Scott Grannis
After years of fearing the worst about the deficit, investors and analysts are starting to hope for the best, Mr. Grannis said.
"The main driver of higher revenues is simply the ongoing growth of the U.S. economy, which in turn has boosted incomes, corporate profits and capital gains," he said. "The bigger story, however, is the huge decline in federal spending. No actual cuts were necessary to reduce the burden of government spending by over 3 percentage points in just four years."