Skip to comments.U.S. posts $3 billion budget surplus for January
Posted on 02/13/2013 4:43:55 AM PST by Colonel Kangaroo
The budget posted a surprise surplus in January for the first time in five years, as the Treasury likely benefited from a windfall when payroll tax cuts expired.
The budget registered a $3 billion surplus, the first time there had been a surplus in January since 2008, Treasury Department data showed on Tuesday. Economists had been looking for a $2 billion gap. The surplus compared with a $27 billion deficit in January 2012...
(Excerpt) Read more at reuters.com ...
Enough to cover 20 minutes of BIG government spending.
I’m sure if this keeps up they’ll find a good use to spend that surplus.
I guess they can’t spend it faster then they print it.
If we are spending a trillion+ per year we don’t have then how can we have a surplus? Magic Accounting?
It’s a miracle! The pResident opens his yap to spew lies for an hour or so and the economy is magically healed! HEALED, I tells ya!
Don’t know if it actually goes there or is simply used for this numbers game which is pure BS. Retail sales for January at 8:30 AM SHOULD be an unmitigated disaster which takes the bloom off this rose.
And don't forget, SS folks got no COLA for 2 years.
The SS fund is totally used up every year to pay other bills. It’s nothing more than a big kitty.
Where do they find these idiot reporters? Anyone with half a brain who owns a business knows that everyone in the country who pays any taxes pulled as much income distribution into Q4 by December 31st as they could to avoid the inevitable tax increases that took effect Jan 1. The payments in January reflect the Q4 taxes due at the old rates. There was just so much income of all types distributed to beat the rate increases that more taxes were paid. They won’t see anything like that again this year. I want to pull my hair out!
Now Obammie the Commie has all the evidence he needs to refuse to negotiate with Republicans on lifting the debt ceiling.
Amazing no one sees that stark contradiction.
$3B taken directly out of people’s paychecks. Nice job Obama.
I call BS on this mainstream media puff piece ... cause even these idiots are smart enough to know that it's impossible to run a budget surplus if you don't have a budget!
Wait....so in a month, $16 trillion deficit is gone and now we have $3 billion surplus???? Or am I missing something?
No, think this is in vs. out for the month and even then it is all smoke mirrors and bs as described above in other posts.
Rod Serling couldn’t have written a better script than this.
This has nothing to do with the payroll tax and EVERYTHING to do with the folks who pay taxes quarterly. We were all afraid of the tax ramifications of the impending fiscal cliff so we took every capital gain we could in the last quarter of 2012. Media idiots.
Quick, somebody legislate something to spend it on!
The theme song to go along with that Obama logo should be:
“The BIG Charade”