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 ...
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?
Leni
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?
Funny.
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.
Yep.
Pretty awesome.....
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