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 ...
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?”
17,800
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?
Statistical manipulations.
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.
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