Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

U.S. posts $3 billion budget surplus for January
Reuters ^ | Feb 12, 2013 | Anna Yukhananov

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 ...


TOPICS: Business/Economy
KEYWORDS:
Happy days are here again.
1 posted on 02/13/2013 4:44:01 AM PST by Colonel Kangaroo
[ Post Reply | Private Reply | View Replies]

To: Colonel Kangaroo

Enough to cover 20 minutes of BIG government spending.


2 posted on 02/13/2013 4:45:41 AM PST by FlingWingFlyer (Now Playing. Obama II - The Revenge of My Father.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: FlingWingFlyer

I’m sure if this keeps up they’ll find a good use to spend that surplus.


3 posted on 02/13/2013 4:48:19 AM PST by Colonel Kangaroo
[ Post Reply | Private Reply | To 2 | View Replies]

To: Colonel Kangaroo

I guess they can’t spend it faster then they print it.


4 posted on 02/13/2013 4:48:54 AM PST by rightwingextremist1776
[ Post Reply | Private Reply | To 1 | View Replies]

To: Colonel Kangaroo

If we are spending a trillion+ per year we don’t have then how can we have a surplus? Magic Accounting?


5 posted on 02/13/2013 4:54:19 AM PST by vet7279 (Those of you who think you know it all are very annoying to those of us who do!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Colonel Kangaroo

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!

*SPIT*


6 posted on 02/13/2013 4:58:47 AM PST by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Colonel Kangaroo
so the SS tax went right back into the general treasury and NOT into SS... wonderful
7 posted on 02/13/2013 5:06:27 AM PST by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -ww- NO Pity for the LAZY)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chode

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.


8 posted on 02/13/2013 5:09:50 AM PST by John W (Viva Cristo Rey!)
[ Post Reply | Private Reply | To 7 | View Replies]

To: Colonel Kangaroo
This is kind of a joke....They gave SS money away for 2 years.....which produced a shortage in SS funds...Now they're calling it a surplus....???? It isn't a surplus....It's SS funding. Idiots !!!

And don't forget, SS folks got no COLA for 2 years.

9 posted on 02/13/2013 5:11:43 AM PST by Sacajaweau
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chode

The SS fund is totally used up every year to pay other bills. It’s nothing more than a big kitty.


10 posted on 02/13/2013 5:14:13 AM PST by Sacajaweau
[ Post Reply | Private Reply | To 7 | View Replies]

To: Colonel Kangaroo

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!


11 posted on 02/13/2013 5:16:13 AM PST by GOPFlack
[ Post Reply | Private Reply | To 1 | View Replies]

To: Colonel Kangaroo

Great.

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.


12 posted on 02/13/2013 5:16:55 AM PST by Ghost of Philip Marlowe (Prepare for survival.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Colonel Kangaroo

$3B taken directly out of people’s paychecks. Nice job Obama.


13 posted on 02/13/2013 5:17:49 AM PST by catfish1957 (My dream for hope and change is to see the punk POTUS in prison for treason)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Colonel Kangaroo

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!

14 posted on 02/13/2013 5:20:31 AM PST by Zakeet (Democracy is the art and science of running the circus from the monkey cage - Mencken)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Colonel Kangaroo

Wait....so in a month, $16 trillion deficit is gone and now we have $3 billion surplus???? Or am I missing something?


15 posted on 02/13/2013 5:24:51 AM PST by jughandle
[ Post Reply | Private Reply | To 1 | View Replies]

To: jughandle

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.


16 posted on 02/13/2013 5:26:27 AM PST by John W (Viva Cristo Rey!)
[ Post Reply | Private Reply | To 15 | View Replies]

To: Colonel Kangaroo

Rod Serling couldn’t have written a better script than this.


17 posted on 02/13/2013 5:30:43 AM PST by TADSLOS (The Event Horizon has come and gone. Buckle up and hang on.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Colonel Kangaroo

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.


18 posted on 02/13/2013 5:30:58 AM PST by old and tired
[ Post Reply | Private Reply | To 1 | View Replies]

To: Colonel Kangaroo

Quick, somebody legislate something to spend it on!


19 posted on 02/13/2013 5:39:13 AM PST by blackdog (There is no such thing as healing, only a balance between destructive and constructive forces.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Colonel Kangaroo

The theme song to go along with that Obama logo should be:

“The BIG Charade”


20 posted on 02/13/2013 5:41:00 AM PST by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Colonel Kangaroo
The U.S. has officially adopted the Hokie Pokie Accounting® standard.
21 posted on 02/13/2013 5:43:34 AM PST by liberalh8ter (If Barack has a memory like a steel trap, why can't he remember what the Constitution says?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Colonel Kangaroo


             

Economic 'news' from the communist mulatto's crew, presented thru the filter of Al-Reuters . . . what's not to believe ? !

Anyone believing anything coming out of DC since '08 is being seriously duped, every f'n time.

/.02

22 posted on 02/13/2013 6:04:17 AM PST by tomkat
[ Post Reply | Private Reply | To 1 | View Replies]

To: Colonel Kangaroo

$3 billion is pocket change to Barry.


23 posted on 02/13/2013 6:24:25 AM PST by VeniVidiVici (Obama's vision - No Job is a Good Job)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chode
so the SS tax went right back into the general treasury and NOT into SS... wonderful

No, it's not the SS tax. It's the 4th quarter 2012 tax payments which were due January 15.

Everyone who pays quarterly taxes was advised by their accountants to realize all capital gains in 2012 because it was unknown what was going to happen to the cap gains tax in 2013. Additionally, income that is sometimes pushed off until January was taken in December. I own some rental properties and I normally hold a few checks back and cash them in January. This year, I took the income in December and figured I'd borrow from myself if I needed cash for repairs in January. And I'm small potatoes - the guys with the real money were doing this on a massive scale.

24 posted on 02/13/2013 6:26:22 AM PST by old and tired
[ Post Reply | Private Reply | To 7 | View Replies]

To: Zakeet

“I call BS on this mainstream media puff piece”
*****************************************************************
I second your call. If they had a true (temporary, month-long) surplus, the national debt level would not have continued its steady skyrocketing climb as it had in the first month of the calendar year.

And the IRS delay in getting refunds out this year means that billions in refunds that would normally go out in late January will go out in later months—and that would have helped hold down “expenditures” in January at the cost of higher expenditures in the following month(s).

And I’m not criticizing the IRS for delaying refunds. With the rampant (tens of billions last year) “refund fraud” by identity thiefs, they need to do a better job of determining if the refunds are legitimate even if that process adds to the time required to get a refund after filing.


25 posted on 02/13/2013 6:30:53 AM PST by House Atreides ( aFT)
[ Post Reply | Private Reply | To 14 | View Replies]

To: Colonel Kangaroo

Look honey ... I found a nickel in the couch.


26 posted on 02/13/2013 6:32:44 AM PST by dartuser (My firearm is not illegal ... its undocumented.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: jughandle

“”Wait....so in a month, $16 trillion deficit is gone and now we have $3 billion surplus???? Or am I missing something?””

BUDGET? WHAT BUDGET?

No! We’re not missing anything - the liberals are missing a brain.


27 posted on 02/13/2013 8:39:27 AM PST by Thank You Rush
[ Post Reply | Private Reply | To 15 | View Replies]

To: old and tired
thx...
28 posted on 02/13/2013 3:01:16 PM PST by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -ww- NO Pity for the LAZY)
[ Post Reply | Private Reply | To 24 | View Replies]

To: Colonel Kangaroo

Don’t we see headlines like this fairly regularly followed up a week or two later with the realization that someone forgot to carry the 2?


29 posted on 02/13/2013 3:08:17 PM PST by Blue Collar Christian (One "bitter clinger" praying for revival. <BCC><)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Blue Collar Christian

February/March/April is going to be brutal in the opposite direction with peoples incomes down and likely tax return “refunds” (credits) UP ... balanced against the fact that everybody that could accelerated income into 2012...let me be the first to say it .. Bush’s Fault.


30 posted on 02/13/2013 3:37:45 PM PST by Neidermeyer (I used to be disgusted , now I'm just amused.)
[ Post Reply | Private Reply | To 29 | View Replies]

To: Colonel Kangaroo

It’s a GD miracle!


31 posted on 02/13/2013 3:39:00 PM PST by Altura Ct.
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson