Skip to comments.The Government Just Posted Its First Four-Month Budget Surplus In Years
Posted on 07/11/2014 11:34:50 AM PDT by SeekAndFind
The U.S. government posted a net surplus over a four-month period for the first time since 2007 in the March-June, according to the latest monthly Treasury statement.
For June, the surplus totaled $71 billion. That actually fell short of expectations of a surplus of $80 billion.
Still, Washington is now on pace to record the lowest annual deficit since 2008, with a fiscal year to date deficit of $366 billion. That's 28% less than the shortfall recorded in the same period last year, according to Marketwatch, thanks mostly to increased revenue.
“Deficits are rapidly declining,” Paul Edelstein, director of U.S. financial economics at IHS Global Insight Inc. in Lexington, Massachusetts, said before the report according to Bloomberg. “A lot of it is coming on the revenue side, mostly from taxes -- there were increases in payroll taxes last year, which are still being felt this year, corporate profits are up and they are paying more in taxes.”
Here's the chart:
(Excerpt) Read more at businessinsider.com ...
As we saw in 2001, Deficits seem to fall just before the buildings do.
Hmmmm, as this comes from the same gubmit that has lied on virtually everything associated with the economy, unemployment, the IRS, the NSA, etc. etc, please forgive me if I don’t believe a d*med thing coming out of their wretched printers.
$71 billion surplus.....How many billions in 17.8 trillion?
How is this even possible? How do you have a SURPLUS when we’re nearly 20 TRILLION in DEBT?
Do they explain how we can have a budget surplus when we don’t have a budget ???
The bloated, unconstitutional $4 TRILLION government beast hasn’t overeaten lately? So what? He needs a radical FORCED DIET and lose at least 80% of his bloated weight.
For June, the surplus totaled $71 billion. No need to ask Congress for money, Obama will use this Magic Cash
What surplus? National debt $17 trillion + and growing.
Debt is up, the deficit is down.
We borrowed enough extra to pay on the deficit- let’s celebrate!
All is well, folks... the boat isn't sinking as fast as it was last year.
The nation is functioning on continuing spending resolutions passed by congress..
National Disgrace. Against the Constitution. Blame the Republicans. They never mention it and it's their job.
THERE MUST BE AN ELECTION AROUND THE CORNER!
The last time I read about this subject the analysis revealed that the bonds were sold and part of the proceeds were used to pay down the deficit.
And I thought then what a sham. It’s like taking your credit card and paying your bills.At the end of the billing cycle, you may show a little extra in the bank. But where did it come from? Tax Revenue or Bond Sales?
It’s like refinancing a mortgage to bring down your payments.
It’s not a good sign.
Talk about your coincidences.
We would only need to do this for 251 quarters to clear out the deficit, so just under 63 years.
But don’t get concerned, Obama’s new crises should clear out these nasty surpluses.
Hint: the quarter includes April 15.
And, and there’s a national election coming up in November.
Talk about your coincidences.
No No , Obama needs money for his Illegals and congress is not going to give him any ,so Surplus ,WOW Magic Cash
They just mean that revenues exceed outlays.
But your point is well taken.
RE: But where did it come from? Tax Revenue or Bond Sales?
Tax season was just 3 months before.
Mid-terms are coming. The Dems just manufacture good news.
Good way to look at it...
The excerpt talks about payroll and corporate taxes. Can’t open the link, but does the article talk at all about Capital Gains taxes?
The stock markets are superheated right now. They means people are both buying and selling at increasing prices which means the gvt is raking in Cap gains.
What happens when the markets contract (or possibly collapse/implode?). No only do cap gains revenues dry up, but stockholders start taking writeoffs on the losses. Deficits will spike ...
“$71 billion surplus.....How many billions in 17.8 trillion?”
How do you have a surplus when over the past five years the total budget has increased by 30% and the GDP is growing at less than 2% per year?
Have the checks to AQ, ISIS, and the MB gone out yet?
That’s an EASY one.
The difference is the same as that between a stock
and a flow.
How can you have water flowing into a tub at the rate of 2 gals per minute,while the tub holds 50 gals?
If you understand your bathtub, then you can understand the difference between defict/surplus and debt.
I bet you can thank the oil producing states for the majority of that.
Can someone please explain how the numbers add up to a “surplus”, when we still borrow more than is taken in?
If my monthly total income is $4000, and I spend even $4001, I do not have a “surplus”, even if I had budgeted/planned to spend $4002...
It’s kind of like the supposed surplus/balanced budget that happened in the Clinton years... (or didn’t) - it was a surplus on paper, but in reality - the government still borrowed to pay its bills.
Hint: the quarter includes April 15.
Suppose I have $17,000 in credit card debt, and I have to forge checks to even make the minimum payments. The pay-day loans I’ve been stacking up have left me $71.00 ahead on rent and utilities for this month.
So do I run around the country boasting about how prosperous and financially astute I am? (If I’m a Democrat the answer is obviously yes.)
Key difference - deficit is not the same thing as debt.
Very nice illustration.
Unfortunately the financially challenged liberals still won’t get it.
THEY meaning 'you'.
The answer was in JIMT's response.
It's a BUDGET SURPLUS. That means they budgeted to spend xx amount, but didn't spend it all(yet). It has nothing to do with the DEBT.
How in the HELL can they post a surplus when they’re $17T in debt?
THAT little goody bad news is never reported in conjunction with the goody good news.
See how the marxist government uses and skews the language.....and omits facts.....to its own advantage in every way possible?
Public debt was 16,699 Bil. at the start of this fiscal year. It is now today 17,586 Bil. How does this add to 366 Bil. ?
I’ve lost track of the Billions in fines and penalties the DOJ has levied against the Banks.
Tried twice to post a comment at the link but could only get as far as an error message about technical difficulties and to try later. Guess they didn’t like what I had to say?
BTW, saw Lone Survivor. Excellent!
I think this is something where conservatives miss a key opportunity.
By being the party of “NO” we have stifled federal spending and regulatory activity.
While the President continues to try private expansions of both items, the Congress is now handcuffed by the House.
That has slowed spending and allowed the economy to lift slightly.
If the Senate were to shift Republican and the Presidency to Republican the economy would grow massively in a 3-5% range.
If that happened, surpluses would return almost immediately.
Texas and North Dakota are limping America forward economically while Virginia thrives on theft from taxpayers.
The more Republicans and conservatives control politics, the better life gets.
The House republicans are “doing there job” the president is not. That is why spending has slowed and revenue increased.