U.S. posts budget surplus

[g5000]

A surplus presumes that the federal budget got balanced some time in the last several months.

Don't believe I got the memo on that one.

See the top of the page.

that rancid smell you just noticed----------you stepped in shit on this one oooopie.

better run away before you sink in up to your eyeballs.

Um...There hasn't been a budget in over three years....Thanks for stomping on that flaming bag of poo, nitwit.

Um...it seems you don't know how government works.

There have been continuing resolutions for the past three years. Otherwise the government would have shut down three years ago.

So there is a budget. The exact same budget we have had for three years. Spending has been occurring, and revenues have been received. For the first time in a long time, more revenues have come in than expenditures paid out.

Here's the bottom line you missed: We are therefore not running up more debt.

No matter how you spin it with idiotic statements demonstrating ignorance about government budgets, that's good news.

 

[BasicGreatGuy]

Do you understand what the term "budget surplus" means?

Yes, I do. It is all smoke and mirrors. It is nothing more than code for the hacks in Washington to justify more spending.

You are being lied to.

I don't think you do. You sound like a complete idiot to me. Go read a blog.

Disagreeing with your position does not make me or anyone else an idiot. Text does not produce sound. As such, it is impossible for my text based responses to "sound" like anything other than whatever biased projection you give it.

 

[OohPooPahDoo]

Because the housing sector is recovering, the GSEs are finally returning to a profit. Since the GSEs were nationalized back when they imploded, those profits are going to the Treasury.

That is how the federal budget managed to pull off a surplus last month.

The GSEs have a long, long, long way to go before they pay off their bailout, though.

If the government continues to hold the stock, yes. It could sell though. It acquired the shares almost for nothing. My understanding FNMA was about 50 cents a share at the time, now its trading ~$1.50 - a three-fold increase!

I'm betting the government unwinds the position as the shares come up in value. The taxpayer may indeed profit considerably.

 

[Oddball]

I read this earlier, but as a republican I choose to ignore it. (-:

Seriously, the sequester really is hurting some people, but the econ slowly improves and spending really is down. I can't believe the congress was so inept they couldn't have cut spending in a more responsible way .... but it is that inept.

Your Dear Leader was presented with the opportunity to deal with the lower baseline increases (there were no spending cuts) in a "more responsible way" and he turned it down, in favor of causing as much pain and chaos as possible, just like the spoiled rotten little punk that he is.

 

[Redfish]

See the top of the page.

that rancid smell you just noticed----------you stepped in shit on this one oooopie.

better run away before you sink in up to your eyeballs.

Um...There hasn't been a budget in over three years....Thanks for stomping on that flaming bag of poo, nitwit.

Um...it seems you don't know how government works.

There have been continuing resolutions for the past three years. Otherwise the government would have shut down three years ago.

So there is a budget. Spending has been occurring, and revenues have been received. For the first time in a long time, more revenues have come in than expenditures paid out.

No matter how you spin it with idiotic statements demonstrating ignorance about government budgets, that's good news.

There has been no federal government budget bill passed for the last 5 years. A CR is not a budget, it just temporarily allows the govt to continue spending.

you are the one making idiotic statements,

 

[g5000]

that rancid smell you just noticed----------you stepped in shit on this one oooopie.

better run away before you sink in up to your eyeballs.

Um...There hasn't been a budget in over three years....Thanks for stomping on that flaming bag of poo, nitwit.

Um...it seems you don't know how government works.

There have been continuing resolutions for the past three years. Otherwise the government would have shut down three years ago.

So there is a budget. Spending has been occurring, and revenues have been received. For the first time in a long time, more revenues have come in than expenditures paid out.

No matter how you spin it with idiotic statements demonstrating ignorance about government budgets, that's good news.

There has been no federal government budget bill passed for the last 5 years. A CR is not a budget, it just temporarily allows the govt to continue spending.

you are the one making idiotic statements,

A CR is a budget. It is the same budget we have had for a long time. It is Congress's way of not writing a new budget and just staying with the old budget.

I will use small words for you: We are not running up more debt.

That's good news.

Nice try.

 

[boedicca]

O-Sack-O-Poo is always neglecting the aspect that the Feds are collecting a bunch of fees and taxes for ObamaCare...while deferring a great deal of expense. When that spending tidal wave hits, it ain't gonna be pretty.

 

[Oddball]

See the top of the page.

that rancid smell you just noticed----------you stepped in shit on this one oooopie.

better run away before you sink in up to your eyeballs.

Um...There hasn't been a budget in over three years....Thanks for stomping on that flaming bag of poo, nitwit.

Um...it seems you don't know how government works.

There have been continuing resolutions for the past three years. Otherwise the government would have shut down three years ago.

So there is a budget. The exact same budget we have had for three years. Spending has been occurring, and revenues have been received. For the first time in a long time, more revenues have come in than expenditures paid out.

We are therefore not running up more debt.

No matter how you spin it with idiotic statements demonstrating ignorance about government budgets, that's good news.

There's no budget...The temporary uptick in revenues to the treasury still won't cover the shortfall from the last CR, or for this year's spending....There is neither a budget -let alone one that is balanced- nor any surplus.

Might as well be the chump with a mortgage two years in arrears, jumping up and down with glee because he just hit a $100.00 scratch-off ticket.

 

[boedicca]

Um...it seems you don't know how government works.

There have been continuing resolutions for the past three years. Otherwise the government would have shut down three years ago.

So there is a budget. Spending has been occurring, and revenues have been received. For the first time in a long time, more revenues have come in than expenditures paid out.

No matter how you spin it with idiotic statements demonstrating ignorance about government budgets, that's good news.

There has been no federal government budget bill passed for the last 5 years. A CR is not a budget, it just temporarily allows the govt to continue spending.

you are the one making idiotic statements,

A CR is a budget. It is the same budget we have had for a long time. It is Congress's way of not writing a new budget and just staying with the old budget.

I will use small words for you: We are not running up more debt.

That's good news.

Nice try.

Calling a CR a budget is REALLY a stretch.

It's not a budget as defined under the law to have a budget. Obama and the Senate Dems have ignored the rule of law and played a game with CRs...just as they ignore many laws.

 

[g5000]

If there's a surplus, why will the debt ceiling need to be raised again?

It the surplus continues, the debt ceiling won't need to be raised. I know that will disappoint you.

 

[Oddball]

Oh, BTW, anyone remember what it is that the Fed has been buying up, at a clip of $40BB+ a month, for at least the last year?....It slipped my mind.

 

[Oddball]

If there's a surplus, why will the debt ceiling need to be raised again?

It the surplus continues, the debt ceiling won't need to be raised. I know that will disappoint you.

Um, according to the propaganda piece in the OP, the debt ceiling raise is still on the agenda.

Not the least bit curious as to why that is, areya?

 

[Redfish]

Um...it seems you don't know how government works.

There have been continuing resolutions for the past three years. Otherwise the government would have shut down three years ago.

So there is a budget. Spending has been occurring, and revenues have been received. For the first time in a long time, more revenues have come in than expenditures paid out.

No matter how you spin it with idiotic statements demonstrating ignorance about government budgets, that's good news.

There has been no federal government budget bill passed for the last 5 years. A CR is not a budget, it just temporarily allows the govt to continue spending.

you are the one making idiotic statements,

A CR is a budget. It is the same budget we have had for a long time. It is Congress's way of not writing a new budget and just staying with the old budget.

I will use small words for you: We are not running up more debt.

That's good news.

Nice try.

The national debt increased by 1 trillion every year that obama has been in power, current projections for 2013 are another trillion in debt increase.

If our debt is not growing why does congress have to keep increasing the debt limit?

and once more, a CR is NOT a budget. A budget bill must be passed by both houses and signed by the president. The house has passed several, Reid has not let a single one reach the floor of the senate.

A CR just says-------in the absense of a budget bill, the govt can continue spending up to $___________between now and _________. Then we either need a budget of another CR.

 

[Rozman]

We don't have a surplus. We are in debt over 16 trillion dollars. The size of government continues to grow due to increased spending of monies which we don't have.

Not buying the hype you are selling.

Will this surplus be put toward the national debt ?
I doubt that very much.

 

[g5000]

Oh, BTW, anyone remember what it is that the Fed has been buying up, at a clip of $40BB+ a month, for at least the last year?....It slipped my mind.

They have been buying agency MBS. Which means they will also be turning a profit on them now, and turning that profit over to the Treasury as well.

 

[Moonglow]

Better than a poke in the eye with a sharp stick.

 

[boedicca]

Oh, BTW, anyone remember what it is that the Fed has been buying up, at a clip of $40BB+ a month, for at least the last year?....It slipped my mind.

They have been buying agency MBS. Which means they will also be turning a profit on them now, and turning that profit over to the Treasury as well.

Oh brother.....

 

[g5000]

Oh, BTW, anyone remember what it is that the Fed has been buying up, at a clip of $40BB+ a month, for at least the last year?....It slipped my mind.

They have been buying agency MBS. Which means they will also be turning a profit on them now, and turning that profit over to the Treasury as well.

Oh brother.....

'Tis true.

 

[LoneLaugher]

Yo G!,

Don't you know better than to ruin a good pity party with positive news? You must allow these sore losers to wallow in their desperate hope that the economy takes another shit.

 

[Stephanie]

SO? is this some big deal for you, poo poo doodle?

you sure act like it is