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
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 ...
Anyone believing anything coming out of DC since '08 is being seriously duped, every f'n time.
/.02
$3 billion is pocket change to Barry.
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.
“I call BS on this mainstream media puff piece”
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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.
Look honey ... I found a nickel in the couch.
“”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.
thx...
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?
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.
It’s a GD miracle!
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