Skip to comments.May Budget Deficit Comes In Way Smaller Than A Year Ago
Posted on 06/10/2011 11:33:54 AM PDT by SeekAndFind
The budget deficit for the month of May came in at $57.6 billion, way better than last year's $135.9 billion for the same period.
It also came in better than expected for this year, about $1.4 billion less than expectations, which were for a $59 billion deficit.
The improvement comes down to an increase in tax revenue, year-over-year, and the absence of bailout spending from last year.
(Excerpt) Read more at businessinsider.com ...
Middle School grad?
The same pattern of unexpected increase in revenues is being seen in a number of states. Can it be that things are actually getting better?
No. The only real difference is the bailout spending. None of the fundamentals have changed. And these fundamentals are fixing to get worse.
RE: Can it be that things are actually getting better?
I can see many reasons for this improvement in the deficits.
Republicans control the Legislature and the Budget since January of this year in almost EVERY STATE including Congress.
Governors (Republicans and Democrats alike (see Andrew Cuomo of NY )) are enacting austere budgets and demanding the public unions pare back their generous benefits.
Even though the economy is still weak, it is better than it was a year ago.
And look at the fight in Congress right now... it isn’t about how much to increase, but how much to CUT.
Even a straight vote on increasing the debt ceiling without any conditions went DOWN in defeat with 80 Demcorats voting against it.
Heck, Obama’s proposed budget at ZERO Senators ( yep NO DEMOCRATS) voting for it.
Your points are valid, and positive for the country.
But at this point, as impressive as some of them are to even be happening, I don’t think they are going to affect our fundamental problems enough or soon enough.
But, even small victories over the Huns are refreshing.
A mere 57 billion? Wow, Obama must really be doing something right!
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