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The Government Just Posted Its First Four-Month Budget Surplus In Years
Business Insider ^ | 07/11/2014 | Rob Wile

Posted on 07/11/2014 11:34:50 AM PDT by SeekAndFind

The U.S. government posted a net surplus over a four-month period for the first time since 2007 in the March-June, according to the latest monthly Treasury statement

For June, the surplus totaled $71 billion. That actually fell short of expectations of a surplus of $80 billion.

Still, Washington is now on pace to record the lowest annual deficit since 2008, with a fiscal year to date deficit of $366 billion. That's 28% less than the shortfall recorded in the same period last year, according to Marketwatch, thanks mostly to increased revenue.

“Deficits are rapidly declining,” Paul Edelstein, director of U.S. financial economics at IHS Global Insight Inc. in Lexington, Massachusetts, said before the report according to Bloomberg. “A lot of it is coming on the revenue side, mostly from taxes -- there were increases in payroll taxes last year, which are still being felt this year, corporate profits are up and they are paying more in taxes.”

Here's the chart:

(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: budget; budgetsurplus; surplus
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1 posted on 07/11/2014 11:34:50 AM PDT by SeekAndFind
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To: SeekAndFind

As we saw in 2001, Deficits seem to fall just before the buildings do.


2 posted on 07/11/2014 11:36:23 AM PDT by AppyPappy
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To: SeekAndFind

Hmmmm, as this comes from the same gubmit that has lied on virtually everything associated with the economy, unemployment, the IRS, the NSA, etc. etc, please forgive me if I don’t believe a d*med thing coming out of their wretched printers.


3 posted on 07/11/2014 11:37:08 AM PDT by Da Coyote
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To: SeekAndFind

$71 billion surplus.....How many billions in 17.8 trillion?


4 posted on 07/11/2014 11:37:13 AM PDT by Sacajaweau
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To: SeekAndFind

How is this even possible? How do you have a SURPLUS when we’re nearly 20 TRILLION in DEBT?


5 posted on 07/11/2014 11:37:33 AM PDT by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: SeekAndFind

Do they explain how we can have a budget surplus when we don’t have a budget ???


6 posted on 07/11/2014 11:37:46 AM PDT by jimt (Fear is the darkroom where negatives are developed.)
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To: SeekAndFind

The bloated, unconstitutional $4 TRILLION government beast hasn’t overeaten lately? So what? He needs a radical FORCED DIET and lose at least 80% of his bloated weight.


7 posted on 07/11/2014 11:38:08 AM PDT by PapaNew
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To: SeekAndFind

For June, the surplus totaled $71 billion. No need to ask Congress for money, Obama will use this Magic Cash


8 posted on 07/11/2014 11:39:25 AM PDT by molson209 (Blank)
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To: SeekAndFind

What surplus? National debt $17 trillion + and growing.


9 posted on 07/11/2014 11:39:50 AM PDT by Jim Robinson (Resistance to tyrants is obedience to God!!)
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To: SeekAndFind

Debt is up, the deficit is down.
We borrowed enough extra to pay on the deficit- let’s celebrate!


10 posted on 07/11/2014 11:40:48 AM PDT by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
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To: Jim Robinson

Kabuki Theater..


11 posted on 07/11/2014 11:40:57 AM PDT by ConservativeMan55 (In America, we don't do pin pricks. But sometimes we elect them.)
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To: SeekAndFind

Riiiight!!


12 posted on 07/11/2014 11:41:30 AM PDT by ColdOne (I miss my poochie... Tasha 2000~3/14/11))
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To: SeekAndFind
Still, Washington is now on pace to record the lowest annual deficit since 2008, with a fiscal year to date deficit of $366 billion. That's 28% less than the shortfall recorded in the same period last year,

All is well, folks... the boat isn't sinking as fast as it was last year.

13 posted on 07/11/2014 11:41:49 AM PDT by So Cal Rocket (Task 1: Accomplished, Task 2: Hold them Accountable!)
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To: SeekAndFind; butterdezillion
There is no budget.

The nation is functioning on continuing spending resolutions passed by congress..

National Disgrace. Against the Constitution. Blame the Republicans. They never mention it and it's their job.

14 posted on 07/11/2014 11:41:59 AM PDT by Kenny Bunk (The GOP is dying. What do we do now?)
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To: SeekAndFind

THERE MUST BE AN ELECTION AROUND THE CORNER!


15 posted on 07/11/2014 11:42:30 AM PDT by CivilWarBrewing
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To: SeekAndFind

The last time I read about this subject the analysis revealed that the bonds were sold and part of the proceeds were used to pay down the deficit.

And I thought then what a sham. It’s like taking your credit card and paying your bills.At the end of the billing cycle, you may show a little extra in the bank. But where did it come from? Tax Revenue or Bond Sales?


16 posted on 07/11/2014 11:42:32 AM PDT by Hostage (ARTICLE V)
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To: jimt
Do they explain how we can have a budget surplus when we don’t have a budget ???

Easy. Wooden wall. Throw two darts. Measure height difference. There's your surplus.

17 posted on 07/11/2014 11:43:30 AM PDT by BitWielder1 (Corporate Profits are better than Government Waste)
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To: Diana in Wisconsin

It’s like refinancing a mortgage to bring down your payments.

It’s not a good sign.


18 posted on 07/11/2014 11:43:56 AM PDT by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
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To: SeekAndFind
And, and there's a national election coming up in November.

Talk about your coincidences.

.

19 posted on 07/11/2014 11:45:04 AM PDT by Seaplaner (Never give in. Never give in. Never...except to convictions of honour and good sense. W. Churchill)
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To: Sacajaweau

We would only need to do this for 251 quarters to clear out the deficit, so just under 63 years.

But don’t get concerned, Obama’s new crises should clear out these nasty surpluses.


20 posted on 07/11/2014 11:47:32 AM PDT by LucianOfSamasota (Tanstaafl - its not just for breakfast anymore...)
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