Skip to comments.White House: 2014 Deficit to Drop $100B
Posted on 07/11/2014 12:49:30 PM PDT by Citizen Zed
The White House said Friday that the federal government's budget deficit will drop to $583 billion this year, the lowest level of President Barack Obama's tenure.
Last year's deficit was $680 billion. The latest update from the White House budget office is also $66 billion less than the administration predicted earlier this year when releasing the president's budget.
The unexpected White House release came as the Treasury Department announced separately that the government ran a surplus of $71 billion for the month of June.
(Excerpt) Read more at abcnews.go.com ...
Those money printers are running over-time.
So they are still going to spend a half trillion more than what they take in. At a time of record revenues.
I’ll wait a few days; by then, the fact-checkers will have had a chance to take a look at the fine print.
“In God We Trust”. The U.S. Government. Not so much. I’ll believe this garbage when I see it.
Remember when the left and the press were bashing the insane Bush deficits of $250 billion????
If the border patrol will run out of money in August, if the highway fund will run out of money this month, if HHS is broke, how is there an improvement in budgets?
WOW , The Federal Government has a Budget ,since when ,maybe before Harry The Reid show up
“Ill wait a few days; by then, the fact-checkers will have had a chance to take a look at the fine print.”
Assuming these numbers are true (which is always a big question with all the revisions that end up happening), there is really no fine print to look at here.
Federal deficits averaged around $150 billion to $200 billion during the Bush years, even at the height of the two wars we were fighting. I believe Bush’s highest deficit (and the highest on record up until that time) was 2008 at around $350 billion, and that was with the bailouts.
Obama came in and right off the bat went about the business of bankrupting the country. His first four years, he ran deficits exceeding $1 trillion annually, MORE THAN TRIPLE what any other president had ever run. Now we are supposed to give him credit for reducing those stratospheric numbers down to a little over half a trillion?
Actually, the main reason the deficit is coming down is the sequester that was vehemently opposed by Obama but the GOP allowed to take effect last year. Without those spending restraints (as small as they are), we would still probably be exceeding $1 trillion.
Is anyone REALLY stupid enough to believe anything from this administration?