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Keyword: surplus

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  • Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January

    02/13/2018 10:46:12 AM PST · by Red Badger · 23 replies
    www.cnsnews.com ^ | 02/12/2018 | By Terence P. Jeffrey
    (CNSNews.com) - The federal government this January ran a surplus while collecting record total tax revenues for that month of the year, according to the Monthly Treasury Statement released today. January was the first month under the new tax law that President Donald Trump signed in December. During January, the Treasury collected approximately $361,038,000,000 in total tax revenues and spent a total of approximately $311,802,000,000 to run a surplus of approximately $49,236,000,000. Despite the monthly surplus of $49,236,000,000, the federal government is still running a deficit of approximately $175,718,000,000 for fiscal year 2018. That is because the government entered the...
  • U.S. government posts $182 billion surplus in April (win)

    05/11/2017 9:56:03 AM PDT · by Stopthethreat · 17 replies
    WASHINGTON (Reuters) - The U.S. government had a $182 billion budget surplus in April, confounding market expectations for a deficit, according to Treasury Department data released on Wednesday. The budget surplus was $106 billion in April 2016, according to Treasury's monthly budget statement. The fiscal 2017 year-to-date deficit was $344 billion compared with $353 billion in the same period of fiscal 2016. When accounting for calendar adjustments, the surplus last month was $145 billion compared with an adjusted surplus of $146 billion the prior year. The adjusted deficit for the fiscal year to date was $373 billion compared with $314...
  • We Do Not Have a Trade Deficit, We have a capital surplus

    12/07/2016 8:34:45 AM PST · by SeekAndFind · 69 replies
    National Review ^ | 12/06/2016 | Kevin Williamson
    ‘Thank goodness for Kevin McCarthy!” isn’t something one says every day, but in the matter of President-elect Donald J. Trump’s backward and destructive plan to resurrect 19th-century tariffs, the gentleman from California is invaluable. Trump wants to impose 35 percent tariffs on . . . somebody. He does not seem quite sure. One of the reasons for that is that Trump has the question of trade deficits mixed up in his head with the question of offshoring and, like most Americans, he does not understand either of them very well. The president-elect, writing on Facebook (because that’s what presidents-elect...
  • The Rise and Fall of the Army Surplus Store

    10/13/2016 4:19:09 PM PDT · by vannrox · 76 replies
    The Art of Manliness ^ | Oct 11, 2016 05:05 pm | By Brett and Kate McKay
    The Rise and Fall of the Army Surplus StoreBy Brett and Kate McKay on Oct 11, 2016 05:05 pm You’ve probably been to an army surplus store.They all look pretty much the same wherever you live. Surplus stores can be found in strip malls in the rough part of town or as stand-alone warehouse-style buildings with corrugated metal roofing and very few windows. They’re easy to miss while driving because they typically only announce themselves with a small yellow sign emblazoned with “Army Surplus” in black lettering.When you walk in, your nose is met with that distinct army surplus...
  • US government buys 11 million pounds of cheese to tackle dairy mountain

    08/28/2016 12:05:10 AM PDT · by Olog-hai · 43 replies
    Daily Telegraph (UK) ^ | 27 August 2016 • 11:40PM | David Millward
    Washington has stepped in to tackle America’s cheese mountain with the Federal government buying 11 million pounds of the surplus. It has cost the American taxpayer $20 million (Ł15 million), the US Department of Agriculture said. The cheese will be distributed to food banks across the country. There are several reasons for the cheese mountain in the US. Farmers had boosted production when they were getting record prices. But thanks to the strength of the dollar, demand has slumped, creating a huge cheese surplus which has reached a 30-year high. Cheese has been a source of tension between the United...
  • Germany's big surplus to cover costs of refugees

    01/14/2016 4:01:32 PM PST · by Olog-hai · 12 replies
    TheLocal.de ^ | 14 Jan 2016 11:36 GMT+01:00 | (AFP/DPA/The Local)
    Germany's economy picked up speed and afforded the government a big surplus in 2015 - which will be put straight towards spending on refugees. [...] In concrete terms, GDP amounted to €3.027 trillion in 2015, the first time ever that it has topped the three-trillion mark, (the federal statistics office) Destatis said. [...] Under current plans, the federal government will spend roughly €8 billion on refugees in 2016. That's made up of around €3.3 billion in extra federal spending on unemployment and other benefits, plus €4.3 billion for the states and municipalities. ...
  • Minnesota Gov. Dayton vetoes education bill, ready to call special session

    05/19/2015 6:27:12 PM PDT · by TurboZamboni · 14 replies
    NNCNOW.com ^ | 5-19-15 | Kevin Jacobsen
    14 hours after the 2015 session wrapped up, Governor Mark Dayton addressed the media and confirmed what most of us already knew; he is going to send the education bill back to lawmakers. The biggest sticking point is the measure didn't include his request for $171 million in additional funding for universal prekindergarten which he says will help 47,000 four-year- olds get a head start on education. The House and Senate passed the bill on Monday, despite an earlier warning from the Governor. The Governor says it's astonishing with a $1.9 billion surplus the legislature didn't include his request and...
  • Minnesota Republican Party ads pitch giving surplus back

    03/11/2015 5:56:01 AM PDT · by TurboZamboni · 6 replies
    Pioneer Press ^ | 3-11-15 | rachel stassenberger
    The Minnesota Republican Party answered a complex Capitol budget question with a simple solution: Give it all back. With a print, television and online ad campaign, the party is proposing that lawmakers and the governor return all of the projected $1.9 billion surplus to taxpayers. 'The Republican Party of Minnesota says send it back -- send it all back," Party Chairman Keith Downey says in the ad. Downey, who is running for re-election to the party post this spring, said Tuesday he did not have a prescription for how he thought the nearly $1.9 billion should be returned. He declined...
  • Give it back(MN surplus)

    03/11/2015 5:29:21 AM PDT · by TurboZamboni · 10 replies
    mngop ^ | 3-11-15 | mngop
    Today the Republican Party of Minnesota held a press conference calling for Democrats to give back the nearly $2 billion state budget surplus to hardworking Minnesotans! That surplus belongs to Minnesotans and the Democrats should give it back, not spend it. That's roughly $350 per every Minnesotan. The Democrats raised taxes by an unnecessary $2 billion, and now state government has a nearly $2 billion surplus, which they are proposing to spend! On top of that, Democrats are actually proposing to raise taxes another $6 billion on top of the $2 billion surplus!
  • Can We Believe Anything Coming From The U.S. Government?

    12/30/2014 8:00:38 AM PST · by GilGil · 29 replies
    Silverdoctors.com ^ | 12/30/2014 | The Doc
    To begin with, Russia has no need to sell gold. In fact, Russia added 150 tonnes of gold to its Central Bank holdings in August, September and October. It didn’t make any sense that Russia would then turn around and sell gold. Why? Russia runs a current account surplus - LINK. It has cash on its balance sheet. Something the U.S. can only dream about, as the U.S. Government has to issue debt every hour to fund itself. The last time the U.S. sniffed a positive balance of payments was in the 1980’s. Second, Russia just got through paying down...
  • Pentagon Fires Back At Critics of 'Police Militarization' Program

    08/21/2014 6:59:06 AM PDT · by stevie_d_64 · 39 replies
    The Wire via Yahoo news ^ | August 19, 2014 | Russell Berman
    ~ snip ~ Despite the move, however, Kirby insisted the Defense Department was not "militarizing" police departments and that the program as a whole was "useful" and "served a purpose." "Let’s be careful not to throw the baby out with the bathwater here," Kirby said.
  • The Government Just Posted Its First Four-Month Budget Surplus In Years

    07/11/2014 11:34:50 AM PDT · by SeekAndFind · 50 replies
    Business Insider ^ | 07/11/2014 | Rob Wile
    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...
  • Tax break bill passes Minnesota House by 126-2 vote

    03/07/2014 4:38:51 AM PST · by TurboZamboni · 12 replies
    Pioneer Press ^ | 3-7-14 | Billy Salisbury
    Gov. Mark Dayton wants to use half of the state's $1.2 billion budget surplus for tax relief, and the Minnesota House gave him most of what he's after by passing a $503 million package of tax cuts on a 126-2 vote Thursday. Hours before the vote, Dayton proposed a supplemental budget that calls for cutting taxes by $616 million, stashing most of the rest of the surplus in a rainy-day reserve account and providing a relatively small sum for "essential" new spending. "Our improving economy has greatly improved the state's budget forecast, giving us the opportunity to put more money...
  • TURNAROUND! $1 Billion Surplus in Wisconsin...Gov. Scott Walker Returning It to Taxpayers

    01/24/2014 4:47:29 PM PST · by mandaladon · 19 replies
    Fox Nation ^ | 24 Jan 2014 | MARY SPICUZZA and MATTHEW DeFOUR |
    Gov. Scott Walker used his election-year State of the State address Wednesday to rally support for his plans to use the majority of Wisconsin’s $912 million in unexpected revenue for tax cuts. “What do you do with a surplus?” he said. “Give it back to the people who earned it. It’s your money.” He said he would call a special session of the Legislature to consider his income and property tax cut package — part of a broader fiscal plan called “A Blueprint for Prosperity” — which would save average Wisconsin families about $150 this year. Assembly Speaker Robin Vos,...
  • Column: The militarization of U.S. police forces

    10/23/2013 1:36:15 AM PDT · by stevie_d_64 · 80 replies
    Reuters ^ | 10/22/2013 | Michael Shank and Elizabeth Beavers
    This month, more Mine-Resistant Ambush-Protected vehicles (MRAPs) have found their way from the wars in Afghanistan and Iraq to the Main Streets of America. These are just the latest acquisitions in a growing practice by Pentagon that's militarizing America's municipal police forces. Police departments in Boise and Nampa, Idaho, each acquired an MRAP, as did the force in High Springs, Florida. The offer of war-ready machinery, at practically no cost, has proven hard to resist for local police departments. Increasingly, they are looking like soldiers equipped for battle. The growing similarity between our domestic police forces and the U.S. military...
  • Tax return: WI Senate passes $100 million property tax cut

    10/16/2013 7:12:01 AM PDT · by afraidfortherepublic · 18 replies
    The Wisconsin Reporter ^ | 10-16-13 | Ryan Ekvall
    MADISON – After more than an hour of political ping pong Tuesday, with the taxpayer playing the familiar role of ball, most Senate Democrats agreed with Republicans that a $100 million property tax cut was too good a deal to pass up. Or, perhaps, political suicide to turn it down. Last week, Democrats gave Gov. Scott Walker and legislative Republicans an earful after Walker called a special session to pass a $100 million property tax cut last week. Mike Tate, chairman of the Democratic Party of Wisconsin, called the tax cut a “gimmick.” Sen. President Mike Ellis, R-Neenah, excoriated senate...
  • Now that’s better: WI ends fiscal year with $760 million surplus

    10/15/2013 9:53:31 AM PDT · by afraidfortherepublic · 21 replies
    The Wisconsin Reporter ^ | 10-15-13 | M. D. Kittle
    MADISON – Better than expected. That’s been the story of state revenue and surplus in Wisconsin over the past year and a half. An improving economy has pushed the state’s surplus up to $759.2 million, according to the Wisconsin Department of Administration State Controller’s Office’s Annual Fiscal Report released Monday. That’s up nearly $90 million from the last budget estimate earlier this year, and an increase of $274.5 million higher than the $484.7 million projected in the Legislative Fiscal Bureau’s 2013 re-estimates in January. Word of the better-than expected balance, which doesn’t take into account the hundreds of millions of...
  • WI gov. calls for $100 million in immediate property tax relief

    10/11/2013 6:13:11 AM PDT · by afraidfortherepublic · 16 replies
    The Wisconsin Reporter ^ | 10-10-13 | Ryan Ekvall
    MADISON – The tax cuts just keep on coming. Gov. Scott Walker on Thursday proposed $100 million tax cut for property taxpayers. Walker said he would call a fall special session, and legislative leaders indicate the bill could pass in the next couple of weeks. “That’s $100 million worth of tax relief for working families, senior citizens, farmers and small business owners all across the state,” Walker said. “For the third consecutive year (homeowners will) see a reduction of property tax levy for the median value home across the state of Wisconsin.” Walker said property tax cut would be reflected...
  • U.S. Surplus Hits June Record of $116.5B; Best Since 2008

    07/12/2013 8:25:08 AM PDT · by SeekAndFind · 17 replies
    Street Insider ^ | 07/12/2013 | BY: JOHN PRESTA
    The U.S. posted record budget surplus for the month of June, bolstered by dividend payments from GSE's Fannie Mae (OTCBB: FNMA) and Freddie Mac (OTCBB: FMCC). It was also the largest surplus since 2008, data show. The U.S. Treasury Department said today that revenue outpaced spending by $116.50 billion last month, up from a deficit of $59.74 billion reported in the same period last year. Fannie and Freddie kicked-in about $67 billion in payments last month. Mandatory cuts, coupled with higher taxes and the domestic economy showing continued signs of improvement both contributed to the surplus. Despite the positive June...
  • US posts surprisingly big budget surplus (No need to raise debt ceiling after Hussein's sequester?)

    07/12/2013 1:35:20 AM PDT · by Libloather · 8 replies
    NBC News ^ | 7/11/13 | Jason Lange
    The U.S. government posted an unexpectedly large budget surplus in June, a further sign of the rapid improvement in public finances that has taken the heat off Congress to find savings and raise the nation's borrowing limit. Rising tax revenue, public spending cuts and big payments to the Treasury from government-backed mortgage companies helped the government take in $117 billion more last month than it paid out, the U.S. Treasury said on Thursday. Analysts polled by Reuters had expected a surplus of $39.5 billion. June's surplus was the largest on record for that month. While the government is still $510...