U.S. to run first surplus since 2008: CBO

[smallLliberal]

how did that happen so quick?

I guess ending the Iraq helped as well as the improving economy .. they give other reasons as well

U.S. to run first surplus since 2008: CBO

Surplus is first of Obama’s presidency

WASHINGTON (MarketWatch) — The U.S. government recorded a budget surplus of $58 billion in April, the Congressional Budget Office estimated on Monday, breaking a streak of deficits that began in 2008.


The surplus — the first of Barack Obama’s presidency — was the result of both increased tax collection and lower government spending. Before April, the government had not run a surplus since September 2008, the month that the financial crisis struck the U.S. economy. Read CBO report.

The CBO’s estimate is released before the Treasury Department’s monthly budget report. That report is scheduled for later this week.

CBO estimated that receipts were $30 billion higher in April than the same month a year ago, due to declining refunds that month and higher corporate income tax receipts. Spending fell by $69 billion compared to April 2011, marked by lower outlays on defense, Medicaid and the Postal Service.

more: http://www.marketwatch.com/Story/Story/ ... 8049AD6%7D

[Edward Kennedy]

:shock:

how did that happen so quick?

I guess ending the Iraq helped as well as the improving economy .. they give other reasons as well

U.S. to run first surplus since 2008: CBO

Surplus is first of Obama’s presidency

WASHINGTON (MarketWatch) — The U.S. government recorded a budget surplus of $58 billion in April, the Congressional Budget Office estimated on Monday, breaking a streak of deficits that began in 2008.


The surplus — the first of Barack Obama’s presidency — was the result of both increased tax collection and lower government spending. Before April, the government had not run a surplus since September 2008, the month that the financial crisis struck the U.S. economy. Read CBO report.

The CBO’s estimate is released before the Treasury Department’s monthly budget report. That report is scheduled for later this week.

CBO estimated that receipts were $30 billion higher in April than the same month a year ago, due to declining refunds that month and higher corporate income tax receipts. Spending fell by $69 billion compared to April 2011, marked by lower outlays on defense, Medicaid and the Postal Service.

more: http://www.marketwatch.com/Story/Story/ ... 8049AD6%7D

Any fool including the ahole mcsquinty can reduce/eliminate the deficit by raising taxes and in this scenario, piles are saved on the elimination of a war.

Now what about the illegal alien problems costing billions? What about MOOCHELLE the Clydesdale wasting money having her ass carted around on world vacations?

This kenyan is a liability to the nation and is not even legally entitled to be president on two counts, what is he doing there?

[Julian]

I don't believe it. This is electioneering. I ill wait for independent confirmation.

[wildernessvoice]

April??? Is that the month that everybody has to file their income tax for 2011 and pay the taxes owed??

[smallLliberal]

I don't believe it. This is electioneering. I ill wait for independent confirmation.

you dont believe the CBO?

you realize the GOP runs the show in the Congress?

besides, this is only one month and not an entire year

I am guessing that now they are are not spending billions flying around Iraq delivering ice cream to the troops, it has to figure in this ... "peace dividend" as Clinton would call it.

Good news if you ask me. I also read in the Globe today that auto production is nearly at full capacity and they will have to expand production soon.

[free_life2]

And there will be a magically free chicken in every pot by November.

The water bucket you are carrying for comrade Obama must be getting heavy with that extra $7 trillion he spent on wars, socialist goodies and payola to banksters and other powerful elite groups he puppets for.

Next week Obama will discovery the cure for cancer and create world peace followed by zero unemployment.... budget surplus

[smallLliberal]

April??? Is that the month that everybody has to file their income tax for 2011 and pay the taxes owed??

Ya, I figure that has to be part of it as well.

But the majority of Americans have it withheld on every paycheque. So there would be refunds to deduct from the payments that come in during April.

Time will tell.

[smallLliberal]

if you check out this article, they discuss the effect of tax time

they also point out that last April is was a 40 billion deficit, so it is nearly a 100 billion dollar swing to the positive.

https://mninews.deutsche-boerse.com/ind ... 40b-yr-ago

[smallLliberal]

And there will be a magically free chicken in every pot by November.

The water bucket you are carrying for comrade Obama must be getting heavy with that extra $7 trillion he spent on wars, socialist goodies and payola to banksters and other powerful elite groups he puppets for.

Next week Obama will discovery the cure for cancer and create world peace followed by zero unemployment.... budget surplus

it is the CBO saying it .. not the White House. Last I checked the GOP were in charge of the House.

[styky]

I don't believe it. This is electioneering. I ill wait for independent confirmation.

you dont believe the CBO?

you realize the GOP runs the show in the Congress?

besides, this is only one month and not an entire year

I am guessing that now they are are not spending billions flying around Iraq delivering ice cream to the troops, it has to figure in this ... "peace dividend" as Clinton would call it.

Good news if you ask me. I also read in the Globe today that auto production is nearly at full capacity and they will have to expand production soon.

That's a surplus only for the month of April.

[Maestro_T]

Book cooking has been turned into a fine art of late.

[styky]

Book cooking has been turned into a fine art of late.

Which set

[smallLliberal]

I don't believe it. This is electioneering. I ill wait for independent confirmation.

you dont believe the CBO?

you realize the GOP runs the show in the Congress?

besides, this is only one month and not an entire year

I am guessing that now they are are not spending billions flying around Iraq delivering ice cream to the troops, it has to figure in this ... "peace dividend" as Clinton would call it.

Good news if you ask me. I also read in the Globe today that auto production is nearly at full capacity and they will have to expand production soon.

That's a surplus only for the month of April.

Ya so, as mentioned in the very first post.

Good news anyways. First time since 2008, that is a significant milestone.

[RedDog]

Yes, there's bound to be a few spare billion dollars just laying around in the kitty as unemployment benefits expire for millions of people.

[Charles J. White]

This is good news, only one single month but good news anyways. I don't believe the next month will remain in balance, but we shall see