Posted on 05/19/2013 5:18:06 PM PDT by SeekAndFind
For the first time since 2007 – before the recession – the US Treasury is planning to make a down payment on the federal debt. The budget deficit has been shrinking more than expected. Thanks to government spending cuts, and higher tax receipts The Treasury says it expects to pay off $35 billion of debt in the second quarter. That compares to an earlier forecast that it would have to borrow $103 billion.
Usually this time of year is the best for government cash flow because annual tax returns flood into the Treasury in April. But the return to at least one quarter of debt paydown is a clear sign government spending cuts and tax increases have helped lower the deficit.
(Excerpt) Read more at abcnews.go.com ...
Hmmm.....
35,000,000,000/16,000,000,000,000 =
2.2 THOUSANDTHS!
That equals
Width of human hair in centimeters,
Tolerance of a piston vs cylinder in inches
Distance light travels in 2 microseconds in feet
......
>> Thanks to government spending cuts
There are NO spending cuts.
A young adult at 15 measured 5’8”. At 16, 5’9”. At 17, 5’9”. At 18, 5’10”.
According to govt math, at what year did the young adult shrink?
Given where their heads are, the gigantic pill has to be in the form of a suppository.
http://market-ticker.org/akcs-www?post=220813
since September 28th 2012 (the last business day for which this was reported) there has been a net $762.6 billion of new debt added to the Federal balance sheet, not $488 billion.
The key to understanding Obamaspeak is to understand that Obama is self-delusional.
Obama truly believes that reality can be created just by him saying so.
I call these statements Obamalies.
Hence, when Obama wants something to be true, all he has to do is say the words and reality will be created around them.
In this manner Obama is capable of protecting himself from REALITY that you and I recognize, but is unrecognizable to Obama.
I believe NONE of them and trust none either.
They LIE...obama LIES and they even believe their own lies..
VOTE...2014 AND CLEAN UP GOVERNMENT..WATCH THEM ALL RUN SCARED IN THE COMING YEAR...2014 should be interesting..
We have still borrowed roughly $450 billion in the first 4 months of this year, so on a net basis, we will have still borrowed over $400 billion per month...
ABC trying to make chicken salad out of chicken ^^^^.
Oops...$100 billion per month...
Huh. You know iirc those units have been getting something like $40B/month from the fed's MBS purchases.
>>All it means is that a lot of income like cap gains and dividends were accelerated into 2012 to avoid a possible large tax increase that might have happened in 2013.
Ding! Ding! Ding!
We have a winner!
This shouldn’t be any surprise... receipts and outlays are seasonal and the forecast for 2H13 has been around $100 billion. Go watch David Tepper’s interview on CNBC from last Tuesday where he talks about this (in conjunction with the Fed’s asset purchases of ~$500 billion in 2H13).
Ouch!
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.