April Surplus: Shades of Clinton?

[Sallow]

Read it and weep.

WASHINGTON (AP) – The U.S. government took in more money than it spent in April, the first monthly surplus in nearly four years.

Sponsored LinksBut that black ink won't last. The federal government is on track to exceed a $1 trillion deficit for the fourth straight year, keeping the contentious issue front and center during the 2012 presidential election.

The Treasury Department said Thursday that the U.S. deficit totaled $719 billion through the first seven months of the budget year, which began on Oct. 1. That's $150 billion lower than a year ago, but still large by historical standards.

STORY: House OKs cuts to social programs to aid Pentagon
For April, the government recorded a surplus of $59.1 billion. That's not unusual for this time of year, given that annual tax returns are due. But this marks the first April surplus since the 2008 financial crisis, a sign that the economy is healthier and producing more tax revenue.
U.S. deficit looms large despite April surplus

 

[MeBelle]

Hmmm, wonder if that had anything to do with April 17th?

 

[CrusaderFrank]

Read it and weep.

WASHINGTON (AP) – The U.S. government took in more money than it spent in April, the first monthly surplus in nearly four years.

Sponsored LinksBut that black ink won't last. The federal government is on track to exceed a $1 trillion deficit for the fourth straight year, keeping the contentious issue front and center during the 2012 presidential election.

The Treasury Department said Thursday that the U.S. deficit totaled $719 billion through the first seven months of the budget year, which began on Oct. 1. That's $150 billion lower than a year ago, but still large by historical standards.

STORY: House OKs cuts to social programs to aid Pentagon
For April, the government recorded a surplus of $59.1 billion. That's not unusual for this time of year, given that annual tax returns are due. But this marks the first April surplus since the 2008 financial crisis, a sign that the economy is healthier and producing more tax revenue.
U.S. deficit looms large despite April surplus

First, this was covered already

Second, April is tax receipts

Third, The Government borrowed another $100B in April

Fourth, I thought Government spending stimulated the economy, are you worried that this austerity will plunge us into a recession?

 

[SniperFire]

This one is pretty stupid, even for swallow.

 

[Sallow]

Hmmm, wonder if that had anything to do with April 17th?

Sure.

But it's the first in 4 years.

And three years after a financial calamity created by George W. Bush.

 

[TakeAStepBack]

US Posts First Budget Surplus In 42 Months, And It Is Less Than Meets The Eye | ZeroHedge

The results in both years were influenced by timing shifts of certain payments; adjusted for those shifts, the surplus in April 2012 would have been $27 billion, compared with a deficit of $13 billion in April 2011.... The federal government incurred a budget deficit of $721 billion in the first seven months of fiscal year 2012, $149 billion less than the shortfall reported during the same period last year. Without shifts in the timing of certain payments, however, the deficit so far this year would have been only $92 billion smaller." In other words, without various temporal adjustments, the April surplus of $58 billion would have been completely netted out by the cumulative $57 billion in deficit time shifts. However, in an election year, every beneficial item such as this is an extended talking point as the president will gladly take the praise for a number which is indicative of anything but the underlying US financial "health." After all, others can bother with the explanations.

There is more: the April receipts of $319 billion were a near all time record, and $30 billion more than last year, again driven by the temporal vagaries of tax return season, and a big drop in tax refunds handed out. Sadly, this number is very much unsustainable as the end of tax season year after year sees a dramatic plunge in receipts. Furthermore, while cumulative receipts are running at about 6% higher compared to the prior year, they are $20 billion less than the CBO's own estimate for where revenues would have been at this point as of March. In other words, enjoy the surplus while you can: for another 30 or so days.

Finally, confirming the outlier nature of the surplus, the Treasury did not take any respite in funding its future liquidity needs, and raised a total of $110 billion in cash, proving that sadly the April number is anything but sustainable, especially with a surge in short-term debt maturities that will need to be funded.

 

[Sallow]

This one is pretty stupid, even for swallow.

Watch out faggot, Romney might clip your hair.

 

[TakeAStepBack]

Moving payments around through different months and time periods to attempt to make it look like a surplus, is ridiculous for even the slowest fiscal understanding people.

No budget? No budget surplus.

 

[Sallow]

Read it and weep.

WASHINGTON (AP) – The U.S. government took in more money than it spent in April, the first monthly surplus in nearly four years.

Sponsored LinksBut that black ink won't last. The federal government is on track to exceed a $1 trillion deficit for the fourth straight year, keeping the contentious issue front and center during the 2012 presidential election.

The Treasury Department said Thursday that the U.S. deficit totaled $719 billion through the first seven months of the budget year, which began on Oct. 1. That's $150 billion lower than a year ago, but still large by historical standards.

STORY: House OKs cuts to social programs to aid Pentagon
For April, the government recorded a surplus of $59.1 billion. That's not unusual for this time of year, given that annual tax returns are due. But this marks the first April surplus since the 2008 financial crisis, a sign that the economy is healthier and producing more tax revenue.
U.S. deficit looms large despite April surplus

First, this was covered already

Second, April is tax receipts

Third, The Government borrowed another $100B in April

Fourth, I thought Government spending stimulated the economy, are you worried that this austerity will plunge us into a recession?

Apparently the GOP is worried that austerity..might plunge us into a recession..

GOP plans East Coast missile defense shield - Video on msnbc.com

Yesiree..a brand new exotic weapons system. Good stuff.

 

[The Rabbi]

The desperation of the Left is palpable. ANy good news is because of Obama. Any bad news is because of the GOP.
The public isn't buying it. Obama's agenda will be rolled back both by the Supreme Court and by voters and he and the Dums will be turned out of office in droves. It will be called The Great American Sobering Up.

 

[SniperFire]

The best you can hope for is for this thread to sink fast, swallow.

LOL

 

[Sallow]

The best you can hope for is for this thread to sink fast, swallow.

LOL

Sorry. my Homosexual friend..there's no swallow coming for you..at least from me.

In any case..watch your back. I hear Romney's got a wrestler looking for you.

And a haircut is a comin'..

Just not in your mouth..fagboi.

 

[Sallow]

The desperation of the Left is palpable. ANy good news is because of Obama. Any bad news is because of the GOP.
The public isn't buying it. Obama's agenda will be rolled back both by the Supreme Court and by voters and he and the Dums will be turned out of office in droves. It will be called The Great American Sobering Up.

 

[The Rabbi]

The desperation of the Left is palpable. ANy good news is because of Obama. Any bad news is because of the GOP.
The public isn't buying it. Obama's agenda will be rolled back both by the Supreme Court and by voters and he and the Dums will be turned out of office in droves. It will be called The Great American Sobering Up.

People laugh at what they don't understand.

 

[Sallow]

The desperation of the Left is palpable. ANy good news is because of Obama. Any bad news is because of the GOP.
The public isn't buying it. Obama's agenda will be rolled back both by the Supreme Court and by voters and he and the Dums will be turned out of office in droves. It will be called The Great American Sobering Up.

People laugh at what they don't understand.

Don't understand what?

We were on the brink. That's what you don't understand. Trying to explain it to you is exercise in futility.

Hence the laughter..

 

[Old Rocks]

The desperation of the Left is palpable. ANy good news is because of Obama. Any bad news is because of the GOP.
The public isn't buying it. Obama's agenda will be rolled back both by the Supreme Court and by voters and he and the Dums will be turned out of office in droves. It will be called The Great American Sobering Up.

Yep, real desperation;


President Obama 253 Governor Romney 170

RealClearPolitics - 2012 Election Maps - Battle for White House

 

[Old Rocks]

And only two battleground states in Romneys column. Missouri and Arizone. Just Ohio puts the President over the top.

 

[Sallow]

And only two battleground states in Romneys column. Missouri and Arizone. Just Ohio puts the President over the top.

Here's the funny thing. After hemming and hawing about it...and believe me, old Bishop Romney's stance on the economy has "evolved" many times..

He now admits there was a financial calamity. He also admits things have gotten better. His main point at this point (Because who knows what the future holds for old mittens and his points) is that the economy would have recovered much faster under his leadership.

Which..to some extent..might be true. Under Reagan, government hiring was expanded to ease unemployment. Reagan's first term..UE was around 7%. Had Republicans had acquiesced to Obama, like Democrats did with Reagan..you'd probably see the same numbers. But under Republicans with Obama..we've lost some 600,000 government employees. Which is in keeping with their plan to make Obama a one term president, no matter what the cost to the American people.

Even with the obstruction, Obama's policies are still leading America out of the dismal atrocity wrought by conservatives and their failed economic dogma.

 

[The Rabbi]

People laugh at what they don't understand.

Don't understand what?

We were on the brink. That's what you don't understand. Trying to explain it to you is exercise in futility.

Hence the laughter..

Yes, we were on the brink. Brink of what I don't know.
But by Jan 2009 it was all over and things were recovering. ANd then Obama came to town. And the rest is history.

 

[skookerasbil]

This one is pretty stupid, even for swallow.

LMAO..................classic