U.S. posts budget surplus

[RandallFlagg]

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,

BINGO!!!!!


OBarry has not operated under a budget since the day he took office. Never once.

 

[LoneLaugher]

Say it again nutters. Maybe it will suddenly become truth!

 

[Oddball]

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.

ORLY?

Got a receipt?

 

[RandallFlagg]

Say it again nutters. Maybe it will suddenly become truth!

Well, Okay.

Tell me when the Senate passed the last budget and no, I do NOT mean a continuing resolution. I mean a budget passed by both Houses and signed by the president as they are required by law to do.


I'll be waiting for your well thought and reasoned response.

 

[Sallow]

U.S. posts $117 billion budget surplus in June - Yahoo! Finance,

July 11 (Reuters) - The U.S. government posted abudget surplus in June, the latest sign of rapidly improvingpublic finances that could reduce the urgency in Congress tostrike a deal to raise the nation's limit on borrowing.

Rising tax revenues, public spending cuts and big paymentsto the Treasury from state-backed mortgage firms helped thegovernment take in $117 billion more last month than it paidout, the U.S. Treasury said on Thursday.

Will the teabaggers now STFU?

It's the fucking Clinton years all over again. (without the sex with fat chicks)

No wonder they are so upset.

 

[g5000]

Oh brother.....

'Tis true.

ORLY?

Got a receipt?

You mean to tell me you are bloviating about the Fed buying agency MBS and are unaware they have been turning a profit on them and turning that over to the Treasury?

 

[g5000]

Here's your receipt:

The Federal Reserve Board on Thursday announced preliminary unaudited results indicating that the Reserve Banks provided for payments of approximately $88.9 billion of their estimated 2012 net income to the U.S. Treasury. Under the Board's policy, the residual earnings of each Federal Reserve Bank are distributed to the U.S. Treasury, after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in.

The Federal Reserve Banks' 2012 estimated net income of $91.0 billion was derived primarily from $80.5 billion in interest income on securities acquired through open market operations (U.S. Treasury securities, federal agency and government-sponsored enterprise (GSE) mortgage-backed securities (MBS), and GSE debt securities).

NEXT!

 

[RandallFlagg]

U.S. posts $117 billion budget surplus in June - Yahoo! Finance,

July 11 (Reuters) - The U.S. government posted abudget surplus in June, the latest sign of rapidly improvingpublic finances that could reduce the urgency in Congress tostrike a deal to raise the nation's limit on borrowing.

Rising tax revenues, public spending cuts and big paymentsto the Treasury from state-backed mortgage firms helped thegovernment take in $117 billion more last month than it paidout, the U.S. Treasury said on Thursday.

Will the teabaggers now STFU?

It's the fucking Clinton years all over again. (without the sex with fat chicks)

No wonder they are so upset.

Yeah, you're right. OBarry will leave office, we'll be 20 Trillion in debt but have a "surplus" of a billion dollars. Yeah.....good times.

 

[Wyatt earp]

U.S. posts $117 billion budget surplus in June - Yahoo! Finance,

July 11 (Reuters) - The U.S. government posted abudget surplus in June, the latest sign of rapidly improvingpublic finances that could reduce the urgency in Congress tostrike a deal to raise the nation's limit on borrowing.

Rising tax revenues, public spending cuts and big paymentsto the Treasury from state-backed mortgage firms helped thegovernment take in $117 billion more last month than it paidout, the U.S. Treasury said on Thursday.

Will the teabaggers now STFU?

playing with numbers again? Lmao... so 117 billion surplus of the projected number for june, back in may? fucking stupid..we already knew freddie and frannie is trying pay it back fast so the US government dont liquefy them. they are trying to save their fucking jobs.
Fannie, Freddie and the Government's House of Cards - WSJ.com

When Fannie and Freddie were losing money, Congress had a strong incentive to privatize or liquidate them. Many plans were devised. The Obama administration proposed three options, the third of which was to restore them to the public-private status that fueled their rapid expansion in the late 1990s and early 2000s—and contributed to their downfall.

 

[Sallow]

U.S. posts $117 billion budget surplus in June - Yahoo! Finance,

Will the teabaggers now STFU?

It's the fucking Clinton years all over again. (without the sex with fat chicks)

No wonder they are so upset.

Yeah, you're right. OBarry will leave office, we'll be 20 Trillion in debt but have a "surplus" of a billion dollars. Yeah.....good times.

Had Bush really "stayed the course"?

No debt.

 

[RandallFlagg]

It's the fucking Clinton years all over again. (without the sex with fat chicks)

No wonder they are so upset.

Yeah, you're right. OBarry will leave office, we'll be 20 Trillion in debt but have a "surplus" of a billion dollars. Yeah.....good times.

Had Bush really "stayed the course"?

No debt.

Should have known.....It's all Bush's fault. Dang, that is getting old after 5 years..but, I guess when that's all ya got........

 

[Oddball]

'Tis true.

ORLY?

Got a receipt?

You mean to tell me you are bloviating about the Fed buying agency MBS and are unaware they have been turning a profit on them and turning that over to the Treasury?

Got a receipt?

 

[Toro]

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.

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.

We're being lied to?

Wow.

Could you please show us how?

Thanks.

 

[g5000]

From a perspective of debt, we have been heading "into the woods".

For the month of June, we stopped going further into the woods and actually took a step in the direction that will take us out of the woods.

No one is saying we can all pop a bottle of champagne, the trouble is over. No one.

We have a long way to go, but this is nothing less than good news.

No one knows if this will be the only month, or if this is the beginning of many more steps heading out of the woods. We should all be hoping it is the latter, even if you hate Obama's guts as much as I do. Because the alternative means a near future of human suffering that is too harsh to contemplate.

We are still in the middle of a bond and derivatives bubble that can end civilization as we know it in the blink of an eye. So don't assume I am breathing a sigh of relief when I cheer this bit of good news in an otherwise terrifying landscape we find ourselves in.

If you hear me saying, "Go, baby, go!" then you should now understand why.

 

[boedicca]

Here's your receipt:

The Federal Reserve Board on Thursday announced preliminary unaudited results indicating that the Reserve Banks provided for payments of approximately $88.9 billion of their estimated 2012 net income to the U.S. Treasury. Under the Board's policy, the residual earnings of each Federal Reserve Bank are distributed to the U.S. Treasury, after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in.

The Federal Reserve Banks' 2012 estimated net income of $91.0 billion was derived primarily from $80.5 billion in interest income on securities acquired through open market operations (U.S. Treasury securities, federal agency and government-sponsored enterprise (GSE) mortgage-backed securities (MBS), and GSE debt securities).

NEXT!

Check Mate:

 

[g5000]

Here's your receipt:

The Federal Reserve Board on Thursday announced preliminary unaudited results indicating that the Reserve Banks provided for payments of approximately $88.9 billion of their estimated 2012 net income to the U.S. Treasury. Under the Board's policy, the residual earnings of each Federal Reserve Bank are distributed to the U.S. Treasury, after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in.

The Federal Reserve Banks' 2012 estimated net income of $91.0 billion was derived primarily from $80.5 billion in interest income on securities acquired through open market operations (U.S. Treasury securities, federal agency and government-sponsored enterprise (GSE) mortgage-backed securities (MBS), and GSE debt securities).

NEXT!

Check Mate:

Apparently someone doesn't understand the difference between "percent of GDP" and profit.

How embarrassed I feel for you!

And believe me, I have spoken quite often about the amount of spending and debt we have taken on. It is simply terrifying.

 

[g5000]

If (I should say when) interest rates rise by one percent, the annual interest on our national debt will be equal to how much the Vietnam War cost us each year.

And if (I should say when) the bond bubble bursts, the Fed is completely fucked.

Bad, bad, bad times ahead. It will be a miracle if we pull this one out. I don't see how we get out by any other means than brutally punitive inflation.

 

[boedicca]

Here's your receipt:



NEXT!

Check Mate:

Apparently someone doesn't understand the difference between "percent of GDP" and profit.

How embarrassed I feel for you!

And believe me, I have spoken quite often about the amount of spending and debt we have taken on. It is simply terrifying.

I understand rate of return. Earning an eensy beensy profit compared to the massive debt undertaken is a fool's game.

When interest rates spike, that eensy beensy profit will be wiped out in a nanosecond.

 

[g5000]

I understand rate of return. Earning an eensy beensy profit compared to the massive debt undertaken is a fool's game.

When interest rates spike, that eensy beensy profit will be wiped out in a nanosecond.

This is the case for every investment house/bank right now, not just the Fed. Astronomical carry trades and derivative speculation that will blow up in their faces and bring down the entire planet in a flash.

Which is why we better start praying that will never happen. We are WAAAAAAAAAY past Too Big To Fail and deep in Too Big To Save territory.

 

[Oddball]

Here's your receipt:

The Federal Reserve Board on Thursday announced preliminary unaudited results indicating that the Reserve Banks provided for payments of approximately $88.9 billion of their estimated 2012 net income to the U.S. Treasury. Under the Board's policy, the residual earnings of each Federal Reserve Bank are distributed to the U.S. Treasury, after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in.

The Federal Reserve Banks' 2012 estimated net income of $91.0 billion was derived primarily from $80.5 billion in interest income on securities acquired through open market operations (U.S. Treasury securities, federal agency and government-sponsored enterprise (GSE) mortgage-backed securities (MBS), and GSE debt securities).

NEXT!

The Fed has never submitted to any external audit.

But you can bet your bottom dollar that they return as much of the profits from their commercial script Ponzi scheme to the U.S. Treasury as possible....Dutifully, even!

Just giving them profits away!

P.T. Barnum was right.