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Posted on 07/11/2025 1:03:59 PM PDT by Red Badger
I am sure that Donald Trump and Treasury Secretary Scott Bessent don't want to say "I told you so," but...
Yes, according to CNBC the United States just posted some big economic dubs, with the budget hitting a surplus thanks to the tariffs that - one day, I am constantly assured - will tank the economy.
The U.S. government posted a surplus in June as tariffs gave an extra bump to a sharp increase in receipts, the Treasury Department said Friday.
With government red ink swelling throughout the year, last month saw a surplus of just over $27 billion, following a $316 billion deficit in May.
That's a big, big jump.
Can we keep the good times a-rolling?
The government last posted a June surplus in 2017, during President Donald Trump's first term.
Increasing tariff collections are helping shore up the government finances.
Customs duties totaled about $27 billion for the month, up from $23 billion in May and 301% higher than June 2024. On an annual basis, tariff collections have totaled $113 billion, or 86% more than a year ago.
I know, it's a long game. But this is a heck of a start to the second Trump term.
We'll have to see what happens when the tariff deadline passes on August 1!
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The big tariff collections havent really started yet
Don’t tell Congress!
It's part of his strategy (really Trump) to tackle the deficit by charging other countries tariffs but at the same time expanding the economy in the U.S. by bringing industry back.
Sneaky, that!.................
Tariffs will be a blessing in the long run - once everyone gets past the hysteria of the MSM. Slowly add on more and more and gradually work them into the system. I'll be a WIN.
I hate to burst anyone’s bubble, but a $343 billion swing in net surplus, from May to June, isn’t explained by a $4 billion swing in tariff revenues. Hint: June is the month of quarterly estimated tax payments.
We are going to see a lot of reduced spending as non citizens get cut from the all the welfare, entitlements, SNAP, Section 8 housing, child and other tax credits, free daycare and free healthcare benefits they are sucking off the system.
People are going to be stunned at how much taxpayer money has been illegally flowing to support illegal aliens , undocumented recipients, fraudulent and phantom enrollees, migrants and other non citizens who often are receiving benefits under multiple false identities.
The government is doing all it can to hide this spending but we will learn just how much is being spent when the money spigot gets systematically shut off over the next year or so.
We’re probably looking at deficit-reduction of at least half a trillion dollars. And keep in mind that the what the media is saying about BBB adding trillions to the debt over a decade is deeply misleading: the BBB isn’t making new revenue cuts; it’s just preventing an enormous automatic tax hike. I’m very optimistic that we can cut the deficit to below the amount we’re paying for interest.
If a judge doesn’t stop it all..................
Is this the first surplus since 2000?
Probably..................
“a $343 billion swing in net surplus, from May to June, isn’t explained by a $4 billion swing in tariff revenues.”
Check those numbers against the article (and other sources).
The budget surplus in June was $27 Billion.
Tariff revenue was also $27 Billion in June.
At this week’s televised cabinet meeting, Treasury Secretary Bessent said we could expect that tariff revenue could be well over $300 billion by the end of this year (31 December).
and devaluing the dollar
The Doomers are claiming BIG BIG BIG debts!
Since when are estimated tax payments considered a “surplus” in revenue?
Don’t tell Rand Paul or Thomas Massie neither of whom are economists
“Is this the first surplus since 2000?”
They are talking about monthly surplus, not the total for the budget year. We are still running a big total deficit for the current fiscal year.
The Federal Government typically runs a surplus every April, when a disproportionate amount of tax revenue is received. As microeconomist pointed out in post#7, June is also typically boosted by quarterly tax payments.
Since the June tax payments are less than April (when a lot of taxpayers pay their whole year’s worth of tax), it is less common to run a surplus in June.
The article said that this is the first monthly surplus in June, since 2017 (Trump’s first term).
“Is this the first surplus since 2000?”
They are talking about monthly surplus, not the total for the budget year. We are still running a big total deficit for the current fiscal year.
The Federal Government typically runs a surplus every April, when a disproportionate amount of tax revenue is received. As microeconomist pointed out in post#7, June is also typically boosted by quarterly tax payments.
Since the June tax payments are less than April (when a lot of taxpayers pay their whole year’s worth of tax), it is less common to run a surplus in June.
The article said that this is the first monthly surplus in June, since 2017 (Trump’s first term).
Positive news, informative thread. Thanks to all posters.
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