Skip to comments.U.S. Treasury Says Balanced Budget in December—Yet Hit Debt Limit During Fiscal Cliff Negotiations
Posted on 01/11/2013 6:45:45 PM PST by Olog-hai
In its monthly statement for December, released Friday, the U.S. Treasury says the federal government balanced its budget during the month, bringing in roughly $270 billion in revenues while making roughly $270 billion in expenditures.
Yet, the Treasury also says that during December it increased by $63.079 billion the national debt subject to the statutory legal limit set by Congress, thus dramatically bringing the debt to the legal limit on Dec. 31, just as Congress and the White House were involved in final negotiations on a deal to avert the so-called fiscal cliffwhich would have canceled all of the lower income tax rates signed into law by President George W. Bush.
(Excerpt) Read more at cnsnews.com ...
The Treasury Department is playing with fire here.
U.S. Treasury Says It Balanced Budget in DecemberYet Hit Debt Limit on Dec. 31 During Fiscal Cliff Negotiations
Place books in a 350 degree oven.......
Would that be the budget dingy Harry hasnt passed in almost four years?
Budget?..... What budget?
So what exactly did we do here? Did we take out a loan to pay off our debt so we are now debt-free?
Lies, lies, and more lies.
I’m not getting anything at the link.
So where did the 60+ billion dollars go?
US Dec. budget deficit $260 million: Treasury
MarketWatch-7 hours ago
WASHINGTON (MarketWatch) — The U.S. government ran a budget deficit of $260 million in December, the Treasury Department reported ...
“They” must have gotten a ‘do-over’.
Or, at the least, this is the greatest case of creative book keeping in the history of mankind.
Like ‘they’ say,
“the computer is only as smart as what is entered into it”
“that paper just lays there and accepts whatever is put on it”.
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Thanks for the link....now it makes more sense. So Geithner borrowed 95 (or was it 63?) billion to ensure we would reach the debt limit right on schedule...Dec. 31. Tada!
Can’t wait to see what shennigans Jack Lew might be willing to pull for obama.
If the budget is balanced then why to they need to raise the debt ceiling?
Every quarter end tax payments are due, so quarter end, plus April, are the big months of revenue.
This is similar to the press reporting that in 2012, the Government had a deficit funding in the social security balances by ($49 billion). No-where in the press reports is it acknowledged that congress cut the SS income by 2% for individuals again for the year, smacking SS income by over (16%), thus causing the deficit!
What a bunch of partisian hacks!