Treasury Department Reports Rare Budget Surplus

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Full Truth

Minneapolis, MN

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#1
Feb 12, 2013
 

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What Deficit? Treasury Department Reports Rare Budget Surplus

WASHINGTON The federal government reported a rare surplus for January and is on track to run the lowest annual deficit since President Barack Obama took office.

The Treasury Department said Tuesday that the government took in a surplus of $2.9 billion in January, helped by nearly $9 billion more in Social Security taxes. Last month Congress and the White House allowed a temporary cut in Social Security taxes to expire.

The monthly surplus was the first since September.

Through the first four months of the 2013 budget year, the deficit has grown $290.4 billion. That's nearly $60 billion lower than the same period a year ago.

Revenue through those four months is 12.4 percent higher compared with the same period last year, while spending has grown only 3.5 percent.

The budget year began on Oct. 1.

The Congressional Budget Office forecasts that the deficit will total $845 billion when the budget year ends on Sept. 30. If correct, that would be first time the government has run annual deficit below $1 trillion since 2008.

The deficit is the amount the government must borrow when its expenses exceed its revenue. Each month's deficit is volatile and can be affected by calendar quirks that shift government spending or revenue from one month to another.

The annual deficit is projected to be smaller this year because the government is collecting more revenue this year, mainly because of faster job growth and higher taxes.
non-starter

Burnsville, MN

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#2
Feb 12, 2013
 

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Full Truth wrote:
What Deficit? Treasury Department Reports Rare Budget Surplus
WASHINGTON The federal government reported a rare surplus for January and is on track to run the lowest annual deficit since President Barack Obama took office.
The Treasury Department said Tuesday that the government took in a surplus of $2.9 billion in January, helped by nearly $9 billion more in Social Security taxes. Last month Congress and the White House allowed a temporary cut in Social Security taxes to expire.
The monthly surplus was the first since September.
Through the first four months of the 2013 budget year, the deficit has grown $290.4 billion. That's nearly $60 billion lower than the same period a year ago.
Revenue through those four months is 12.4 percent higher compared with the same period last year, while spending has grown only 3.5 percent.
The budget year began on Oct. 1.
The Congressional Budget Office forecasts that the deficit will total $845 billion when the budget year ends on Sept. 30. If correct, that would be first time the government has run annual deficit below $1 trillion since 2008.
The deficit is the amount the government must borrow when its expenses exceed its revenue. Each month's deficit is volatile and can be affected by calendar quirks that shift government spending or revenue from one month to another.
The annual deficit is projected to be smaller this year because the government is collecting more revenue this year, mainly because of faster job growth and higher taxes.
I guess I will wait for the Congressional Budget Office report, the treasury department head can't even figure out how to pay his own taxes.

Since: Sep 11

Rogers, MN

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#3
Feb 12, 2013
 

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As I mentioned in another thread on this same issue, the government should not have a surplus or a deficit. If there is this money, it should be returned to the SS fund that has been raped so many times in the past by Congress. That money belongs to the taxpayers, not Congress or Obama.
non-starter

Burnsville, MN

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#4
Feb 12, 2013
 
cantmakeitup wrote:
As I mentioned in another thread on this same issue, the government should not have a surplus or a deficit. If there is this money, it should be returned to the SS fund that has been raped so many times in the past by Congress. That money belongs to the taxpayers, not Congress or Obama.
Notice, the reason stated for the mythical surplus is the 2% reinstated to the payroll tax that is supposed to go to the Social Security fund. It isn't technically available to be spent, it is for future benefits.
non-starter

Burnsville, MN

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#5
Feb 12, 2013
 
cantmakeitup wrote:
As I mentioned in another thread on this same issue, the government should not have a surplus or a deficit. If there is this money, it should be returned to the SS fund that has been raped so many times in the past by Congress. That money belongs to the taxpayers, not Congress or Obama.
I think to pay down the debt, the government is going to have to start running a surplus, this just isn't it. It is really a positive cash flow, has nothing to do with a surplus.
Amused Slew

Seattle, WA

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#6
Feb 12, 2013
 

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Looks like the usual whiners are complaining about good news.. Too bad, you guys hate America...
Full Truth

Minneapolis, MN

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Feb 12, 2013
 

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non-starter wrote:
<quoted text>Notice, the reason stated for the mythical surplus is the 2% reinstated to the payroll tax that is supposed to go to the Social Security fund. It isn't technically available to be spent, it is for future benefits.
Mythical? When you take in more money than you spend in a given time period, you have a surplus. Any high school grad knows that.
quzluz

Pittsburgh, PA

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#8
Feb 12, 2013
 
http://youtube.com/watch...
Goverment at Work,,hopefully
non-starter

Burnsville, MN

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#9
Feb 13, 2013
 

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Full Truth wrote:
<quoted text>
Mythical? When you take in more money than you spend in a given time period, you have a surplus. Any high school grad knows that.
It isn't a surplus, it is a postitive cash flow. The article is calling money being collected again for social security a surplus, when there isn't enough money to cover future system payouts. If you owe $16 trillion, and take in $3 billion more than you pay out, you still owe $16 trillion.

I think I will wait for the CBO report, the Treasury is run by a guy that can't even pay his own taxes.
Amused Slew

Seattle, WA

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Feb 13, 2013
 

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We'll have a surplus after wing nuts pay for Iraq, after all, you said the your people are responsible for bushwhacker's mistakes....
Awful Truth

Grantsburg, WI

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#11
Feb 13, 2013
 

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Amused Slew wrote:
We'll have a surplus after wing nuts pay for Iraq, after all, you said the your people are responsible for bushwhacker's mistakes....
Emotional Defective,

Will you ever grow enough emotionally or intellectually to realize that your Childish Defense of your Despicable Messiah is not found in your childish, regular, and stupid response that you feel applies to EVERY fauching stupid post you write?

"Ya well what about your guy"

A clue for you Retard, What your neighbor or anyone else did or did not do has nothing to do with what you do.....

This principal applies to the Scumbags like Barry and his Co-Communist Tyrants, that you in the 20% who were purchased by them, think you are defending because somebody else did something that in your sick mind you can "equate" to the scum you feel you are defending.
Amused Slew

Seattle, WA

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#12
Feb 13, 2013
 

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Brought to you, by DELICIOUS PhillipKs VodKa, BREAKFAST OF Cons.... LMAOROTFU~!

Served with the usual side of SPAM ~!

Of course, I'd be remiss if I didn't like some con "accomplishments" too......

AH.... maybe later.
Awful Truth

Grantsburg, WI

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#13
Feb 13, 2013
 

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Amused Slew wrote:
Brought to you, by DELICIOUS PhillipKs VodKa, BREAKFAST OF Cons.... LMAOROTFU~!
Served with the usual side of SPAM ~!
Of course, I'd be remiss if I didn't like some con "accomplishments" too......
AH.... maybe later.
Psychotic,

(The principal that I posted as an adult also applies to your 16 hour a day "Projections" to your fellow posters.)

A clue for you Retard, What your neighbor or anyone else did or did not do has nothing to do with what you do.....

This principal applies to the Scumbags like Barry and his Co-Communist Tyrants, that you in the 20% who were purchased by them, think you are defending because somebody else did something that in your sick mind you can "equate" to the scum you feel you are defending.
Amused Slew

Seattle, WA

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#14
Feb 13, 2013
 

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Brought to you, by DELICIOUS PhillipKs VodKa, BREAKFAST OF Cons.... LMAOROTFU~!

Served with the usual side of SPAM ~!

Of course, I'd be remiss if I didn't like some con "accomplishments" too....

Diversion/deflection/dumb& ss ???

AH.... maybe later
non-starter

Burnsville, MN

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#15
Feb 13, 2013
 
Full Truth wrote:
<quoted text>
Mythical? When you take in more money than you spend in a given time period, you have a surplus. Any high school grad knows that.
It isn't a surplus, it is a postitive cash flow. The article is calling money being collected again for social security a surplus, when there isn't enough money to cover future system payouts. If you owe $16 trillion, and take in $3 billion more than you pay out, you still owe $16 trillion.

I think I will wait for the CBO report, the Treasury is run by a guy that can't even pay his own taxes.
Awful Truth

Grantsburg, WI

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#16
Feb 13, 2013
 
non-starter wrote:
<quoted text>It isn't a surplus, it is a postitive cash flow. The article is calling money being collected again for social security a surplus, when there isn't enough money to cover future system payouts. If you owe $16 trillion, and take in $3 billion more than you pay out, you still owe $16 trillion.
I think I will wait for the CBO report, the Treasury is run by a guy that can't even pay his own taxes.
No!

Obamanomics 101. If Barry redistributes YOUR Investments and he only spends 90% of what his Brownshirts at the IRS stole from you.....Then barry has a Surplus.

Obamanomics States;

"That Free Shaat ain't Free" !

Dem rich folks gottsta pony up to pay the Inbestment Dollars that the Country needs to spend to be buying the Shepples Botes, keep da Plantation Massa's happy, and da Inbester fromb da Chicago Mob Happy!

End of lesson.

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