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.