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Deficit streak ends: Obama sees first monthly surplus
The Washington Times ^ | May 7, 2012 | Stephen Dinan

Posted on 05/07/2012 5:35:46 PM PDT by TwelveOfTwenty

The federal government broke its record-long deficit streak in April, recording its first monthly surplus since the financial collapse at the end of the George W. Bush administration in 2008, according to preliminary figures Monday from the Congressional Budget Office.

(Excerpt) Read more at washingtontimes.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS:
Could the House in GOP hands have made a difference?
1 posted on 05/07/2012 5:35:49 PM PDT by TwelveOfTwenty
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To: TwelveOfTwenty

Huh? Not buying any of this.


2 posted on 05/07/2012 5:37:54 PM PDT by CommieCutter
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To: TwelveOfTwenty

Does anyone believe this?? With how many trillion debt??


3 posted on 05/07/2012 5:38:04 PM PDT by Sacajaweau
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To: TwelveOfTwenty

Tax day...


4 posted on 05/07/2012 5:38:48 PM PDT by neodad (USS Vincennes (CG-49) Freedom's Fortress)
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To: TwelveOfTwenty

I don’t believe one word, not one single solitary word.


5 posted on 05/07/2012 5:39:08 PM PDT by DarthVader (Politicians govern out of self interest, Statesmen govern for a Vision greater than themselves)
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To: TwelveOfTwenty
April is when most individual file their taxes and pay any difference between what was withheld and what they owe, so how is this significant of anything other than when the feral government collects the most payments?

It certainly isn't any indication of a decrease in expenditures.

6 posted on 05/07/2012 5:39:08 PM PDT by E. Pluribus Unum (Do I really need a sarcasm tag? Seriously? You're that dense?)
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To: Sacajaweau

Not a word. Horse@#$%!


7 posted on 05/07/2012 5:39:17 PM PDT by CommieCutter
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To: TwelveOfTwenty

That and the fact that tax collections are highest in April with people paying up for the whole year, including capital gains.


8 posted on 05/07/2012 5:39:32 PM PDT by libstripper
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To: TwelveOfTwenty

People paying taxes due on April 15th.


9 posted on 05/07/2012 5:39:44 PM PDT by crusadersoldier
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To: TwelveOfTwenty
The tax man reaps and rapes.
10 posted on 05/07/2012 5:39:55 PM PDT by boomop1
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To: CommieCutter

I thought we were trillions in debt, how’d they
do that?


11 posted on 05/07/2012 5:40:08 PM PDT by tet68 ( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
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To: TwelveOfTwenty
The USA takes in $1.5T per year in taxes and spends $3.5T

I don't believe this article one bit, no sir, even dividing by 12 months.

12 posted on 05/07/2012 5:40:08 PM PDT by Zuben Elgenubi
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To: TwelveOfTwenty

“Because of the large inflows of tax revenues, the federal government usually runs a budget surplus in April — though that did not occur in 2009, 2010 and 2011,”

Wow!
Just ‘Wow!’...


13 posted on 05/07/2012 5:40:39 PM PDT by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
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To: tet68

Debt and deficit are two different things. My last post described the deficit.


14 posted on 05/07/2012 5:42:24 PM PDT by Zuben Elgenubi
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To: mrsmith

My thought exactly. Could not even have a “surplus” for April for the past 3 years.


15 posted on 05/07/2012 5:43:08 PM PDT by crusadersoldier
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To: TwelveOfTwenty
Whaaaaat???

The Washington Times is pushing this bilge???

The key word here is "preliminary".

These numbers have yet to be "revised".

I'm sure after they've been revised, the appropriate bodies will be duly "surprised".

16 posted on 05/07/2012 5:44:27 PM PDT by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Texas Eagle)
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To: TwelveOfTwenty

Creative Federal accounting, no doubt.


17 posted on 05/07/2012 5:45:20 PM PDT by Rebelbase
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To: TwelveOfTwenty

“Even with Monday’s good fiscal news, the government is expected to run a $1 trillion deficit in fiscal year 2012, which began Oct. 1. Through the first seven months, the deficit was already $721 billion, though that was substantially below the $870 billion deficit at the same point in 2011.”

So I don’t see how this makes a surplus when you have already spent more than you took in you can not just look at one month you have to look at the whole enchilada


18 posted on 05/07/2012 5:46:35 PM PDT by funfan
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To: TwelveOfTwenty
If I borrow $100,000.00 to pay my bills for next year which amount to $99,999.00, I would have a surplus.

BUT...next year, my bills will be $99,999.00 PLUS the interest on $100,000.00.

I never have to work again...All I have to do is borrow more every year. Soon, my debt will be in the Trillions....imagine that.

19 posted on 05/07/2012 5:47:09 PM PDT by Sacajaweau
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To: TwelveOfTwenty
... financial collapse at the end of the Bush administration ... ???!

And the massive down slide since then just happened for no apparent reason?
IMO, the downturn started during Bush in no small part because people saw what was coming.

20 posted on 05/07/2012 5:47:34 PM PDT by BitWielder1 (Corporate Profits are better than Government Waste)
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To: Rebelbase
Creative Federal accounting, no doubt.

Naw, they wouldn't do that during an election year, would they?

21 posted on 05/07/2012 5:49:58 PM PDT by TwelveOfTwenty (With choices like Palin, Cain, and Bachmann, what could go wrong? Now we know.)
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To: TwelveOfTwenty
President Obama, who when he took office in January 2009 began a program of boosted spending and continued tax cuts to try to bolster the foundering economy...

Say what? What are these people smoking?

22 posted on 05/07/2012 5:51:20 PM PDT by BitWielder1 (Corporate Profits are better than Government Waste)
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To: TwelveOfTwenty

Same kind of Accounting GM used when it borrowed money from the Government to payoff the bailout.

“We paid off our bailout loan!”


23 posted on 05/07/2012 5:52:59 PM PDT by Rebelbase
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To: TwelveOfTwenty

You can’t trust the government data anymore.

There is no inflation to be concerned about?

The unemployment rate goes down even though there is a net loss of 200,000 workers from the work force pool.

Obamacare was going to cut the deficit before it was going to add to it.

Now we collected more money than we spent in one month for the first time since 2008.

We’ll see.


24 posted on 05/07/2012 5:55:18 PM PDT by Tenacious 1 (With regards to the GOP: I am prodisestablishmentarianistic!)
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To: TwelveOfTwenty
As I've said before, by November, REPORTED Economic progress will show massive improvement, un-Employment numbers will show less than 8% un-Employed, and the deficit will be reported Markedly improved.

The Machine will sell this bullshit to the dupes who have no one but the Gubmint to depend on, and try to sway the mushy voters in the middle to BELIEVING the crap that will be reported.

25 posted on 05/07/2012 6:00:18 PM PDT by traditional1 (Don't gotsta worry 'bout no mo'gage, don't gotsta worry 'bout no gas; Obama gonna take care o' me!)
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To: funfan

“you can not just look at one month”

*******************************

If you want a great headline you do.

Reminds me of my poor sister that would come home to her husband with another armful of fancy clothing and show off all the deals and savings she got.


26 posted on 05/07/2012 6:00:42 PM PDT by 21twelve
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To: tet68

Probably did a shell game with the borrowed money and put in in the Social Security “trust fund” column. Viola!


27 posted on 05/07/2012 6:01:13 PM PDT by CommieCutter
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To: E. Pluribus Unum
The federal government broke its record deficit streak in April, notching its first monthly surplus since the end of the Bush administration, according to preliminary estimates released Monday.

The three previous Aprils didn't spike revenue enough to make it a monthly surplus.

But with four billion borrowed a day, I'm not seeing a surplus.

28 posted on 05/07/2012 6:01:52 PM PDT by Principled
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To: Sacajaweau

We’re spending $1.40 for every $1 in revenue.
Just like a family riding a false wave of prosperity on credit cards and helocs.


29 posted on 05/07/2012 6:06:54 PM PDT by nascarnation
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To: TwelveOfTwenty
Mr. Obama, fighting for higher spending, issued his first spending veto threat of the year on Monday, saying he would reject House Republicans’ bill to fund the Commerce and Justice departments because it spends too little.


"Gee, Wally, that doesn't sound right. The President can't veto a House Bill, can he?"


"Gosh, Beav, ya big goof of course he can't. First the House Bill gets sent over to The Senate which produces its own Bill and then The House and Senate assign delegates to reconcile the two Bills in what is known as a Conference Committee. And then, if it passes, the President can veto it. The Washington Times should be ashamed of itself for employing this Jedi mind trick on the voting public."


"Yeah. I guess that makes sense. Sort of. Hey, W-w-w-wally? What's a Jedi mind trick?"

<<">
"Fer cryin' out loud, Beav, I don't have all day to explain it to ya. Ask me again in 20 years."

30 posted on 05/07/2012 6:08:48 PM PDT by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Texas Eagle)
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To: TwelveOfTwenty
die große Lüge!
31 posted on 05/07/2012 6:20:53 PM PDT by Seaplaner (Never give in. Never give in. Never...except to convictions of honour and good sense. W. Churchill)
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To: TwelveOfTwenty
NO. Think. This is routine for April because the April 15 tax receipts ordinarily exceed routine monthly enpenditures. The last couple years were anomalies. This means nothing and the next month will return to multi-hundred billion dollar deficits.
32 posted on 05/07/2012 6:23:58 PM PDT by hinckley buzzard
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To: TwelveOfTwenty

In other news:

Down at the railroad station they are selling thousands of new, surplus WWII Jeeps still in the original wooden shipping crates for only $50 each.

HURRY!


33 posted on 05/07/2012 6:33:20 PM PDT by Iron Munro (If Repub's paid as much attention to Rush Limbaugh as the Dem's do, we wouldn't be in this mess)
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To: TwelveOfTwenty

This, as others have said, is only because April has an influx of tax money. Next month, we’ll be back to business as usual.


34 posted on 05/07/2012 6:34:11 PM PDT by Signalman
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To: 21twelve

That’s funny. I always amortize my items over the whole year and then I proudly tell my husband it is $1.00 a day :)


35 posted on 05/07/2012 6:37:25 PM PDT by funfan
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To: TwelveOfTwenty
please... feh
36 posted on 05/07/2012 6:46:37 PM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: TwelveOfTwenty; All

Folks, it was APRIL. The tax bills for millions of taxpayers came in last month.

Nothing in this statistic is due to Barack Hussein Obama (mmm mmm mmm)


37 posted on 05/07/2012 6:49:27 PM PDT by SoFloFreeper
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To: TwelveOfTwenty
Happy days are here again...the skies above are clear again...let us sing a song of cheer again...happy...days...are...here...again!!!

I was waiting for this news to buy me a new bass boat. I'm out...off to Bass Pro cuz this man done did what he said he could do. I kinda figured all those bumper stickers I have been seein' round here could not a bin wrong.

38 posted on 05/07/2012 7:00:11 PM PDT by billhilly
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To: TwelveOfTwenty
Link to CBO report

It's all BS. There is no standard accounting formula used. It's all made up to make the answer look good. Gov't statistics are LIES.

39 posted on 05/07/2012 7:38:38 PM PDT by VRWC For Truth (Throw the bums out who vote yes on the bailout)
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To: TwelveOfTwenty

http://www.zerohedge.com/news/us-posts-first-budget-surplus-42-months-and-it-less-meets-eye

Interesting break down


40 posted on 05/07/2012 8:02:50 PM PDT by verklaring (Pyrite is not gold))
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To: TwelveOfTwenty

Just a verbal shell game to fool the sheeple. Since taxes are due by April 15th or so, the treasury normally takes in more in than it pays out in April. Revenue is not received by the federal government in 12 equal installments. One would have to be the dullest knife in the drawer to believe this article when there will be a 1.5 trillion shortfall for the budget year!


41 posted on 05/07/2012 8:40:59 PM PDT by RetiredTexasVet (There's a pill for just about everything ... except stupid!)
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To: TwelveOfTwenty
The federal government broke its record-long deficit streak in April...yeah, and let's see what happens in May, after all the tax payments are in......
42 posted on 05/07/2012 9:06:42 PM PDT by Intolerant in NJ
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