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U.S. Treasury Says Balanced Budget in December—Yet Hit Debt Limit During Fiscal Cliff Negotiations
Cybercast News Service ^ | January 11, 2013 | Terence P. Jeffrey

Posted on 01/11/2013 6:45:45 PM PST by Olog-hai

In its monthly statement for December, released Friday, the U.S. Treasury says the federal government balanced its budget during the month, bringing in roughly $270 billion in revenues while making roughly $270 billion in expenditures.

Yet, the Treasury also says that during December it increased by $63.079 billion the national debt subject to the statutory legal limit set by Congress, thus dramatically bringing the debt to the legal limit on Dec. 31, just as Congress and the White House were involved in final negotiations on a deal to avert the so-called “fiscal cliff”—which would have canceled all of the lower income tax rates signed into law by President George W. Bush. …

(Excerpt) Read more at cnsnews.com ...


TOPICS: Business/Economy; Government; News/Current Events; US: District of Columbia
KEYWORDS: debtlimit; fiscalabyss; fiscalcliff; treasury
Full title:
U.S. Treasury Says It Balanced Budget in December—Yet Hit Debt Limit on Dec. 31 During Fiscal Cliff Negotiations
The Treasury Department is playing with fire here.
1 posted on 01/11/2013 6:45:54 PM PST by Olog-hai
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To: Olog-hai

Place books in a 350 degree oven.......


2 posted on 01/11/2013 6:52:16 PM PST by Proud2BeRight
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To: Olog-hai

Would that be the budget dingy Harry hasnt passed in almost four years?


3 posted on 01/11/2013 6:52:44 PM PST by muir_redwoods (Don't fire until you see the blue of their helmets)
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To: Olog-hai

Budget?..... What budget?


4 posted on 01/11/2013 6:53:24 PM PST by EagleUSA
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To: Olog-hai

So what exactly did we do here? Did we take out a loan to pay off our debt so we are now debt-free?


5 posted on 01/11/2013 6:54:08 PM PST by Taxbilly
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To: Olog-hai

Lies, lies, and more lies.


6 posted on 01/11/2013 6:57:20 PM PST by bmwcyle (We have gone over the cliff and we are about to hit the bottom)
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To: Olog-hai

I’m not getting anything at the link.

So where did the 60+ billion dollars go?


7 posted on 01/11/2013 6:59:58 PM PST by Girlene
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To: All

US Dec. budget deficit $260 million: Treasury
MarketWatch-7 hours ago
WASHINGTON (MarketWatch) — The U.S. government ran a budget deficit of $260 million in December, the Treasury Department reported ...


8 posted on 01/11/2013 7:05:17 PM PST by John W (Viva Cristo Rey!)
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To: Olog-hai

“They” must have gotten a ‘do-over’.

Or, at the least, this is the greatest case of creative book keeping in the history of mankind.

Like ‘they’ say,
“the computer is only as smart as what is entered into it”
OR
“that paper just lays there and accepts whatever is put on it”.


9 posted on 01/11/2013 7:09:21 PM PST by xrmusn (6/98 "It is virtually impossible to clean the pond as long as the pigs are still crapping in it")
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To: Girlene
Don't know what happened with the link. This should work.

Looks like a whole bunch of games played with Geithner to bully the RINOs, or at least get them to stop listening to the Tea Party folk and other conservatives. That’s what made me say that the treasury was playing with fire.
10 posted on 01/11/2013 7:12:18 PM PST by Olog-hai
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To: All


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11 posted on 01/11/2013 7:14:59 PM PST by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: Olog-hai

Thanks for the link....now it makes more sense. So Geithner borrowed 95 (or was it 63?) billion to ensure we would reach the debt limit right on schedule...Dec. 31. Tada!

Can’t wait to see what shennigans Jack Lew might be willing to pull for obama.


12 posted on 01/11/2013 8:07:33 PM PST by Girlene
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To: EagleUSA

If the budget is balanced then why to they need to raise the debt ceiling?


13 posted on 01/11/2013 8:37:28 PM PST by Revel
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To: Olog-hai
And this is surprising, why???

Every quarter end tax payments are due, so quarter end, plus April, are the big months of revenue.

This is similar to the press reporting that in 2012, the Government had a deficit funding in the social security balances by ($49 billion). No-where in the press reports is it acknowledged that congress cut the SS income by 2% for individuals again for the year, smacking SS income by over (16%), thus causing the deficit!

What a bunch of partisian hacks!

14 posted on 01/11/2013 9:24:08 PM PST by Noob1999 (Loose Lips, Sink Ships)
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