Posted on 08/10/2005 11:15:11 AM PDT by SierraWasp
BULLETIN >> U.S. FEDERAL DEFICIT SHRINKS TO $53 BLN IN JULY
BUSH'S FAULT!!!
A WTF Pang!!! (smirk)
You realize that the 53 billion shortfall is for one month, right? So far this year, we're over 300 BILLION in the red. Go ahead and celebrate. Woopdidoo.
Ya had ta hurry, din'tcha?!
So is the Bullish Sierra Wasp posting this or the BS Wasp?
Is that good? :):):)
"Me first! Me first! BUSH'S FAULT!!!"
You win! You win! Dammit! The DUmmies will weep over this......Oh wait, they will just say it is not true.
It's only money. :)
WASHINGTON (MarketWatch) -- The U.S. budget deficit shrank to $52.8 billion in July from $69 billion a year ago, the Treasury Department said Wednesday.
The federal deficit was about $5 billion less than the $58 billion estimated by the Congressional Budget Office a week ago. Receipts came in $1 billion more than expected, while outlays were $4 billion less than CBO projected.
Through the first 10 months of the government's fiscal year, the federal deficit has totaled $302.6 billion, $110.3 billion less than at this time in 2004. Read the full report.
For all of 2005, the CBO currently expects a deficit of less than $350 billion, with the agency scheduled to make public an updated forecast next Monday. The White House forecast a deficit of $333 billion.
The July deficit was the lowest for the month since 2002. Receipts were $142.1 billion, a record for the month, up about 6% from last July.
Receipts are up 13.7% in the year to date at $1.75 trillion. Individual income taxes are up 15.1% to $756.1 billion, while corporate income taxes are up 41.7% to $205.9 billion.
Outlays are up about 6.1% at $2.05 trillion for the year to date.
Need a bit more information before this is cause for celebration. Is this for one month or the whole year?
Something's not adding up Huck. I don't think we have ever accumulated $53B of deficit in one month. That would be an annual run rate of $636B. Certainly, nobody would be crowing about that.
Bush is taking a page from Clinton's accounting. The gov't accountants can paint any picture for a one month timeframe.
It's the direction that counts. If you're Patton in Sicily, you'd probably say, "Well, crap, it's only one island." But if you're the Germans, you're saying, "This is the beginning of the end."
What I'm celebratin, Huck, is the in-your-face value this bulletin has to all the negative, down-in-the-mouth, constantly divining doom people in the Dem/Doom Party, the MSM and even here on FR!!!
That's what I'm getting a real kick out of!!! I get so weary of negativity!!! This is tax cut after effects and all of us Reaganites predicted this!!!
The dems wouldn't believe it even if the $53 billion were stuffed down their throats. They are in such denial.
BUSH IS A SPENDING MACHINE.... NEEDED TO AFTER 911 SINCE DEFLATION WAS A ISSUE BUT HE CONTINUES TO SPEND LIKE A DRUNKEN SAILOR.........
BUSH IS A SPENDING MACHINE.... NEEDED TO AFTER 911 SINCE DEFLATION WAS A ISSUE BUT HE CONTINUES TO SPEND LIKE A DRUNKEN SAILOR.........
Thanks. There's a lot more work to do, but at least are heading in the right direction. What's most surprising is not the increase in revenues, but the decline in outlays (spending).
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