[Jim Robinson]

Riiight. And at the same time Obama’s asking for another debt limit increase!

[Jonty30]

Un huh.

[DoughtyOne]

40 million U. S. workers idle, many of them getting government benefits of some sort, and we’re paying down the debt?

I’m not sure what medication they’re passing out in D. C., but it must be a long acting gigantic pill.

[FlingWingFlyer]

So how does this work? The Treasury prints a bunch of money and pays themselves back?

[Jim Robinson]

Btw, what government spending cuts? They haven’t cut a dime.

[SampleMan]

So.... We are still increasing total debt by ~$1 trillion annually, but we made a $35 billion principle payment. Therefore, “we are paying down the debt.”

My God, people must be stupid.

[staytrue]

But the return to at least one quarter of debt paydown is a clear sign government spending cuts and tax increases have helped lower the deficit.

No it doesn't.

All it means is that a lot of income like cap gains and dividends were accelerated into 2012 to avoid a possible large tax increase that might have happened in 2013.

The 2nd quarter tax receipts reflect 2012 income for april 15. Also estimated taxes for people who file quarterly are based on 2012 income so those are higher even though they are likely overpaying due to income getting moved from quarter 1 of 2013 to quarter 4 of 2012

[staytrue]

On a personal note, I accelerated 100k of cap gains into December of 2012.

My income for 2013 will likely show about a 150,000 drop from 2012 with only 30,000 drop from business falling off while 120,000 fall is due to tax planning.

[entropy12]

That is like saying I am only drinking 5 beers/day instead of 6...so I am alcohol free!

[mountainlion]

Obama can’t prove that he has had any math training let alone Economics.

[Forrestfire]

Projected debt maybe??

[NoLibZone]

I blame the Sequester.

[Chode]

yeah, right...

[unixfox]

Wow. Such a “feel good” report. On top of all the other lies.

[andyk]

They’re saying that at the beginning of the third quarter, the total national debt will be lower than it was at the end of the second quarter. Or something like that. How do you run a trillion dollar deficit and make that claim?

[MacMattico]

Wow! Now we can drop all of these “scandals” and words like “impeachment” because he’s saving us from the debt!/S

[RS_Rider]

Don’t we officially run out of money this week?

[dragnet2]

This is total BS...

[Hostage]

Still running a deficit means money has to be borrowed and the debt is higher but....a pay down on the increased debt is surprising? Yes, it is surprising, surprising how stupid they think we are that it can’t be seen as the nonsense that it is.

Higher tax revenue and spending cuts mean the deficit is not as much as expected but it’s still a deficit and it still means money needs to be borrowed ergo the debt is increased.

Clinton was good at these games. Obama is lame at it but is good at intimidating the press and others, so expect it to run in the press for awhile to talk up his ‘accomplishment’.

[GenXteacher]

A feat of bookkeeping legerdermain.