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Old 02-18-2013, 07:39 PM  
BigRedChief BigRedChief is offline
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Federal Gov has a surplus in Jan., Budget deficit cut in half from last Jan. deficit.

I thought that deficit was causing an economic catastrophe.

Read more: http://www.foxnews.com/politics/2013...#ixzz2LJBzQ5GW

January surplus shrinks 2013 US budget deficit


The federal government reported a rare surplus for January and is on track to run its smallest annual budget deficit since President Obama took office.

The Treasury Department said Tuesday that the government took in a surplus of $2.9 billion in January. That's the first monthly surplus since April, a month that benefited from income tax payments.


January's budget benefited from an estimated $9 billion in extra revenue from higher Social Security taxes. That helped lowered the deficit through the first four months of the budget year to $290.4 billion -- nearly $60 billion lower than the same period a year ago.
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http://www.reuters.com/article/2012/...8161WV20120207

http://www.reuters.com/article/2013/...91615R20130207

(Reuters) - The budget deficit shrank by nearly half in January compared to a year earlier as tax collections from individuals rose and outlays fell, the Congressional Budget Office said on Tuesday.


The CBO said it expects the Treasury Department to report a $27 billion deficit for January, versus a $50 billion deficit in January 2011.
The January budget gap will bring the total deficit for the first four months of fiscal 2012 to $349 billion, a decrease of about $70 billion from the same period of fiscal 2011.


The CBO last week predicted that the United States would rack up a $1-trillion-plus deficit for a fourth straight year, forecasting a $1.08 trillion gap for fiscal 2012, which ends on September 30. The fiscal 2011 U.S. deficit was $1.3 trillion.


January U.S. receipts were up about $9 billion, or 4 percent from a year earlier, largely because of higher withholdings of individual income and payroll taxes, CBO said.


Outlays were $13 billion, or 5 percent, lower in January 2012 than they were a year earlier. But because of the New Year's holiday, some benefit payments were shifted into December, reducing outlays during the month.


Were it not for these timing changes, the January deficit would have been slightly higher at about $31 billion, CBO said.


The Treasury is expected to report official January budget details on Friday.
(Reporting By David Lawder; Editing by Chizu Nomiyama)
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Old 02-19-2013, 11:12 AM   #46
FishingRod FishingRod is offline
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lol I know

maybe change it to "digging the hole slower, but still digging"
or

It is kind of like late in the 2nd half when the Washington Generals Score, the Harlem Globetrotters miss a shot and then the Generals score again. They have chipped away at that deficit but, we all know they aren’t going to win the game.
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Old 02-19-2013, 11:13 AM   #47
BigRedChief BigRedChief is offline
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Originally Posted by FishingRod View Post
The nation had a $17.8 billion surplus in January 2008, the last month of the Bush Presidency.
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Originally Posted by FishingRod View Post
I suppose it would be fun to rail on about this administration taking the Bush surplus and wasting it in the same manner as when Bush took over after Clinton. Misleading and dishonest , but fun.
Just where are you getting this information that Bush left a surplus?
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I believe Hitler hated Jews and had a lot of them killed. I dont believe it was anywhere close to 6 million though. I'm not an anti-semite; I just think that number has been severely inflated and there is a lot of evidence that supports this belief.
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Old 02-19-2013, 11:13 AM   #48
cosmo20002 cosmo20002 is offline
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Originally Posted by FishingRod View Post
The nation had a $17.8 billion surplus in January 2008, the last month of the Bush Presidency. This was followed by a deficit every single month of the Obama Administration until this one. The one in 2008 even though it was over 6 times larger, was not an indicator of a healthy robust economy or a start of a cycle of deficit reduction. Both were more like the meteor that hit Russia the other day, just an oddity to make note of because, we don’t see them very often. I suppose it would be fun to rail on about this administration taking the Bush surplus and wasting it in the same manner as when Bush took over after Clinton. Misleading and dishonest , but fun.
The last month of the Bush presidency was January 2009. Obama wasn't even elected until November 2008. Ooops.
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Old 02-19-2013, 11:25 AM   #49
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Originally Posted by cosmo20002 View Post
The last month of the Bush presidency was January 2009. Obama wasn't even elected until November 2008. Ooops.

LOL That Certainly screws up the premise of the joke. I try to stick stick to fixing the budget and avoid the complicated things like adding and subtracting the number 4
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Old 02-19-2013, 11:25 AM   #50
BigChiefTablet BigChiefTablet is offline
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I'm still trying to figure out how you can claim a surplus when you don't even have a ****ing budget
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Old 02-19-2013, 11:29 AM   #51
ChiTown ChiTown is offline
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Originally Posted by BigChiefTablet View Post
I'm still trying to figure out how you can claim a surplus when you don't even have a ****ing budget
Yeah, that is so ****ing lol true
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Old 02-19-2013, 11:32 AM   #52
cosmo20002 cosmo20002 is offline
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Originally Posted by BigChiefTablet View Post
I'm still trying to figure out how you can claim a surplus when you don't even have a ****ing budget
More money came in than went out = surplus

Now you know.
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As long as Jesus Christ was the president of the US and approved of it Yes.
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Old 02-19-2013, 11:32 AM   #53
cosmo20002 cosmo20002 is offline
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Originally Posted by ChiTown View Post
Yeah, that is so ****ing lol true
No, not true.

More money came in than went out = surplus
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As long as Jesus Christ was the president of the US and approved of it Yes.
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Old 02-19-2013, 11:40 AM   #54
BigRedChief BigRedChief is offline
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Originally Posted by FishingRod View Post
LOL That Certainly screws up the premise of the joke. I try to stick stick to fixing the budget and avoid the complicated things like adding and subtracting the number 4
So you are saying the whole post was a joke?
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I believe Hitler hated Jews and had a lot of them killed. I dont believe it was anywhere close to 6 million though. I'm not an anti-semite; I just think that number has been severely inflated and there is a lot of evidence that supports this belief.
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Old 02-19-2013, 12:01 PM   #55
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So you are saying the whole post was a joke?
Well I turned into one. Bush did have a Surplus in Jan of 2008 but, I had a huge brain fart thinking that was his last month in office instead of 2009. Then I took my error and poured gasoline all over it trying to be funny. The point was that one month of the government bringing in more revenue than it spends doesn’t really indicate any sort of trend.
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Old 02-19-2013, 12:30 PM   #56
BigRedChief BigRedChief is offline
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Originally Posted by FishingRod View Post
Well I turned into one. Bush did have a Surplus in Jan of 2008 but, I had a huge brain fart thinking that was his last month in office instead of 2009. Then I took my error and poured gasoline all over it trying to be funny. The point was that one month of the government bringing in more revenue than it spends doesn’t really indicate any sort of trend.
The point is that the Bush presidency was an economic disaster. Any improvement was based on smoke and mirrors that blew up in our face in 2008. He inherited a surplus and left a huge deficit. Thats the reality.
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Originally Posted by MTG#10 View Post
I believe Hitler hated Jews and had a lot of them killed. I dont believe it was anywhere close to 6 million though. I'm not an anti-semite; I just think that number has been severely inflated and there is a lot of evidence that supports this belief.
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Old 02-19-2013, 01:28 PM   #57
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The point is that the Bush presidency was an economic disaster. Any improvement was based on smoke and mirrors that blew up in our face in 2008. He inherited a surplus and left a huge deficit. Thats the reality.
Bush was bad enough to chase me out of the Republican party, if you care to argue the current resident “sucks less” knock yourself out. That seems to be the most frequently used retort when the current administration is criticized. I sometimes argue that premise but, even if one accepts as gospel the current administration being better than the last, I’d really like to set the bar higher than “ sucks Less”.
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Old 02-19-2013, 01:35 PM   #58
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Originally Posted by cosmo20002 View Post
More money came in than went out = surplus

Now you know.
I can claim a surplus too if I avoid paying all my bills. So we've paid off that 16.5 trillion in debt now?
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Old 02-19-2013, 02:08 PM   #59
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And we haven't really started paying for any of the messes that Obamacare is going to create.

And as Tooge has already noted, I couldn't give a large rat's ass about the government surplus; my check has decreased and my overhead has increased.

But hurray, while my personal outlook has been diminished, we're taking in more money that we can waste on asinine pet projects or use to cover the cost overruns that everyone swore weren't going to happen.
Rest easy, sir. Direckshun and his people plan to spend the money wisely on such pressing problems as violence against women (which has been declining on it's own) and brain research. He hasn't tipped his hand, but I'm pretty sure the problems of someone getting picked last for the kickball game at recess and gender discriminatory bathrooms in federal buildings are up next.
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Old 02-19-2013, 02:10 PM   #60
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Originally Posted by BigRedChief View Post
The point is that the Bush presidency was an economic disaster. Any improvement was based on smoke and mirrors that blew up in our face in 2008. He inherited a surplus and left a huge deficit. Thats the reality.
Well, now that you put it that way, by comparison the Obama presidency is still a complete failure.
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