The reason? Bitcoin.
Posted on 05/15/2013 1:57:41 AM PDT by SoFloFreeper
Since the recession ended four years ago, the federal budget deficit has topped $1 trillion every year. But now the government's annual deficit is shrinking far faster than anyone in Washington expected, and perhaps even faster than many economists think is advisable for the health of the economy.
That is the thrust of a new report released Tuesday by the nonpartisan Congressional Budget Office, estimating that the deficit for this fiscal year, which ends on Sept. 30, will fall to about $642 billion, or 4 percent of the nation's annual economic output, about $200 billion lower than the agency estimated just three months ago.
(Excerpt) Read more at cnbc.com ...
artificial low interest rates and issuing short term bonds.
When these bonds come due and the Fed has to sell their trillions in bonds there will be hell to pay.
This is all fake, anomaly caused by money printing.
It’s spin we just have to examine it to find out where he fudged the numbers. Plus let’s not forget its because he’s taxing the crap out of us.
A lot of the Obama Care tax increases and a lot of other tax increases just went in to effect
bingo
I’m not sure one bit they are even telling the truth on this. The government (FED) has been printing up $85 Billion per month of non-value scrip and buying T-Bills with it.
It would not surprise me at all that they are counting this $1.020 Trillion as an asset... It’s kinda like taking out the max cash advances on all your credit cards and saying you’re ‘solvent’.
I just don’t believe anything anyone connected with the government says anymore.
The fact is if economists are surprised by how fast the deficit is falling then perhaps they didn’t know what they were talking about to start with. Why am i going to take them seriously?
Also fails to look at the how much smaller the 'Economic Output' is since Democrats took over Congress, since January 2007, it is 20%+ smaller as I have extrapolate from the labor participation rate, and the “Out Of Business” signs, the ex-employers aren’t collecting unemployment and go uncounted. GDP may have risen because of government spending, but there isn't private sector growth.
“With the government running a hefty $113 billion surplus in the tax payment month of April, according to the Treasury, analysts now do not expect the country to run out of room under its debt ceiling “
If things are so rosy whats the big deal about borrowing? Why should borrowing go up if their cash flows are so good? This sort of, not directly, addresses what you stated.
“””Since the recession ended four years ago””””
I got that far before I started to laugh. Everything about the hussein regime is fake.
The reason? Bitcoin.
You can BET that increasing Taxes, and handing out MORE TAXPAYER EARNINGS to cronies, special interests, and "Holder's People" is the ever-present goal of these socialist bastards.
Hmmm... perhaps those of us who work every day at Going Gault are having an effect?
Not to worry. Between the Fed and nobama, they’ve got it covered.
Some people sold capital assets in late 2012 to avoid the higher tax rates that Obama proposed for 2013.
A lot of the taxes due on those gains was paid in the first quarter of 2013.
Don’t count on a repeat of that “surprise” in the second quarter.
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