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

Skip to comments.

The Government Just Posted Its First Four-Month Budget Surplus In Years
Business Insider ^ | 07/11/2014 | Rob Wile

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 ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: budget; budgetsurplus; surplus
Navigation: use the links below to view more comments.
first 1-5051 next last

1 posted on 07/11/2014 11:34:50 AM PDT by SeekAndFind
[ Post Reply | Private Reply | View Replies]

To: SeekAndFind

As we saw in 2001, Deficits seem to fall just before the buildings do.


2 posted on 07/11/2014 11:36:23 AM PDT by AppyPappy
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

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.


3 posted on 07/11/2014 11:37:08 AM PDT by Da Coyote
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

$71 billion surplus.....How many billions in 17.8 trillion?


4 posted on 07/11/2014 11:37:13 AM PDT by Sacajaweau
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

How is this even possible? How do you have a SURPLUS when we’re nearly 20 TRILLION in DEBT?


5 posted on 07/11/2014 11:37:33 AM PDT 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: SeekAndFind

Do they explain how we can have a budget surplus when we don’t have a budget ???


6 posted on 07/11/2014 11:37:46 AM PDT by jimt (Fear is the darkroom where negatives are developed.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

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.


7 posted on 07/11/2014 11:38:08 AM PDT by PapaNew
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

For June, the surplus totaled $71 billion. No need to ask Congress for money, Obama will use this Magic Cash


8 posted on 07/11/2014 11:39:25 AM PDT by molson209 (Blank)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

What surplus? National debt $17 trillion + and growing.


9 posted on 07/11/2014 11:39:50 AM PDT by Jim Robinson (Resistance to tyrants is obedience to God!!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Debt is up, the deficit is down.
We borrowed enough extra to pay on the deficit- let’s celebrate!


10 posted on 07/11/2014 11:40:48 AM PDT by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Jim Robinson

Kabuki Theater..


11 posted on 07/11/2014 11:40:57 AM PDT by ConservativeMan55 (In America, we don't do pin pricks. But sometimes we elect them.)
[ Post Reply | Private Reply | To 9 | View Replies]

To: SeekAndFind

Riiiight!!


12 posted on 07/11/2014 11:41:30 AM PDT by ColdOne (I miss my poochie... Tasha 2000~3/14/11))
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind
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,

All is well, folks... the boat isn't sinking as fast as it was last year.

13 posted on 07/11/2014 11:41:49 AM PDT by So Cal Rocket (Task 1: Accomplished, Task 2: Hold them Accountable!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind; butterdezillion
There is no budget.

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.

14 posted on 07/11/2014 11:41:59 AM PDT by Kenny Bunk (The GOP is dying. What do we do now?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

THERE MUST BE AN ELECTION AROUND THE CORNER!


15 posted on 07/11/2014 11:42:30 AM PDT by CivilWarBrewing
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

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?


16 posted on 07/11/2014 11:42:32 AM PDT by Hostage (ARTICLE V)
[ Post Reply | Private Reply | To 1 | View Replies]

To: jimt
Do they explain how we can have a budget surplus when we don’t have a budget ???

Easy. Wooden wall. Throw two darts. Measure height difference. There's your surplus.

17 posted on 07/11/2014 11:43:30 AM PDT by BitWielder1 (Corporate Profits are better than Government Waste)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Diana in Wisconsin

It’s like refinancing a mortgage to bring down your payments.

It’s not a good sign.


18 posted on 07/11/2014 11:43:56 AM PDT by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
[ Post Reply | Private Reply | To 5 | View Replies]

To: SeekAndFind
And, and there's a national election coming up in November.

Talk about your coincidences.

.

19 posted on 07/11/2014 11:45:04 AM PDT by Seaplaner (Never give in. Never give in. Never...except to convictions of honour and good sense. W. Churchill)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Sacajaweau

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.


20 posted on 07/11/2014 11:47:32 AM PDT by LucianOfSamasota (Tanstaafl - its not just for breakfast anymore...)
[ Post Reply | Private Reply | To 4 | View Replies]

To: SeekAndFind

Hint: the quarter includes April 15.


21 posted on 07/11/2014 11:47:53 AM PDT by Ingtar (The NSA - "We're the only part of government who actually listens to the people.")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Seaplaner

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


22 posted on 07/11/2014 11:48:17 AM PDT by molson209 (Blank)
[ Post Reply | Private Reply | To 19 | View Replies]

To: jimt

They just mean that revenues exceed outlays.

But your point is well taken.


23 posted on 07/11/2014 11:48:43 AM PDT by LucianOfSamasota (Tanstaafl - its not just for breakfast anymore...)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Hostage

RE: But where did it come from? Tax Revenue or Bond Sales?

Tax season was just 3 months before.


24 posted on 07/11/2014 11:49:59 AM PDT by SeekAndFind
[ Post Reply | Private Reply | To 16 | View Replies]

To: Da Coyote

Mid-terms are coming. The Dems just manufacture good news.


25 posted on 07/11/2014 11:50:27 AM PDT by kabar
[ Post Reply | Private Reply | To 3 | View Replies]

To: mrsmith

Good way to look at it...


26 posted on 07/11/2014 11:55:52 AM PDT by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
[ Post Reply | Private Reply | To 18 | View Replies]

To: AppyPappy

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 ...


27 posted on 07/11/2014 11:57:40 AM PDT by tanknetter
[ Post Reply | Private Reply | To 2 | View Replies]

To: Sacajaweau

“$71 billion surplus.....How many billions in 17.8 trillion?”

17,800


28 posted on 07/11/2014 11:58:28 AM PDT by H8Libs
[ Post Reply | Private Reply | To 4 | View Replies]

To: Diana in Wisconsin

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?


29 posted on 07/11/2014 11:58:35 AM PDT by skeeter
[ Post Reply | Private Reply | To 5 | View Replies]

To: SeekAndFind

Statistical manipulations.


30 posted on 07/11/2014 11:58:52 AM PDT by fella ("As it was before Noah so shall it be again,")
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Have the checks to AQ, ISIS, and the MB gone out yet?


31 posted on 07/11/2014 11:59:02 AM PDT by morphing libertarian ( On to impeachment and removal (IRS, Open Borders, pro-terrorist, Fast and furious, VA, Benghazi)!!!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Diana in Wisconsin

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.


32 posted on 07/11/2014 11:59:10 AM PDT by noah (noah)
[ Post Reply | Private Reply | To 5 | View Replies]

To: SeekAndFind

I bet you can thank the oil producing states for the majority of that.


33 posted on 07/11/2014 12:07:08 PM PDT by Parley Baer
[ Post Reply | Private Reply | To 1 | View Replies]

To: Ingtar

Hint: the quarter includes April 15.

34 posted on 07/11/2014 12:07:46 PM PDT by SoFloFreeper
[ Post Reply | Private Reply | To 21 | View Replies]

To: SeekAndFind

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.


35 posted on 07/11/2014 12:08:13 PM PDT by TheBattman (Isn't the lesser evil... still evil?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Ingtar

Hint: the quarter includes April 15.

36 posted on 07/11/2014 12:08:34 PM PDT by SoFloFreeper
[ Post Reply | Private Reply | To 21 | View Replies]

To: SeekAndFind

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.)


37 posted on 07/11/2014 12:09:35 PM PDT by Junk Silver
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind
The U.S. government posted a net surplus over a four-month period for the first time since 2007

Another way to say that might be:

The U.S. government posted a net surplus over a four-month period for the first time since George W. Bush was President.
38 posted on 07/11/2014 12:10:58 PM PDT by chrisser (Senseless legislation does nothing to solve senseless violence.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Diana in Wisconsin

Key difference - deficit is not the same thing as debt.


39 posted on 07/11/2014 12:11:11 PM PDT by USNA74
[ Post Reply | Private Reply | To 5 | View Replies]

To: Junk Silver

Very nice illustration.

Unfortunately the financially challenged liberals still won’t get it.


40 posted on 07/11/2014 12:14:52 PM PDT by SeekAndFind
[ Post Reply | Private Reply | To 37 | View Replies]

To: SeekAndFind

41 posted on 07/11/2014 12:16:02 PM PDT by Vendome (Don't take life so seriously-you won't live through it anyway-Enjoy Yourself ala Louis Prima)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind
"... corporate profits are up and they are paying more in taxes.”

THEY meaning 'you'.

42 posted on 07/11/2014 12:16:07 PM PDT by UCANSEE2 (Lost my tagline on Flight MH370. Sorry for the inconvenience.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Diana in Wisconsin; jimt
How do you have a SURPLUS when we’re nearly 20 TRILLION in DEBT?

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.

43 posted on 07/11/2014 12:19:11 PM PDT by UCANSEE2 (Lost my tagline on Flight MH370. Sorry for the inconvenience.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: SeekAndFind

How in the HELL can they post a surplus when they’re $17T in debt?


44 posted on 07/11/2014 12:19:59 PM PDT by wdk535
[ Post Reply | Private Reply | To 1 | View Replies]

To: UCANSEE2; pax_et_bonum; Maine Mariner; mickie; flaglady47
"It (the budget surplus) has nothing to do with the 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?

Leni

45 posted on 07/11/2014 12:27:14 PM PDT by MinuteGal
[ Post Reply | Private Reply | To 43 | View Replies]

To: SeekAndFind

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. ?


46 posted on 07/11/2014 12:27:57 PM PDT by fastkelly
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

I’ve lost track of the Billions in fines and penalties the DOJ has levied against the Banks.


47 posted on 07/11/2014 12:58:58 PM PDT by griswold3 (I was born here in America. I will die here in a third world country. Obama succeeded.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

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?


48 posted on 07/11/2014 1:09:11 PM PDT by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Vendome

Funny.

BTW, saw Lone Survivor. Excellent!


49 posted on 07/11/2014 2:23:19 PM PDT by Gene Eric (Don't be a statist!)
[ Post Reply | Private Reply | To 41 | View Replies]

To: SeekAndFind

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.


50 posted on 07/11/2014 3:48:16 PM PDT by lonestar67 (I remember when unemployment was 4.7 percent / Cruz 2016)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first 1-5051 next last

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