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(Huffington Post)   Amidst all the doom and gloom over "out-of-control" government spending, the Treasury Department notes that in January, the U.S. had a $3 billion surplus. No, that is not a typo   (huffingtonpost.com) divider line 326
    More: Spiffy, Treasury Department, Uncle Sam, government spending, Dean Baker, federal government, Inside the Beltway  
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8633 clicks; posted to Main » on 13 Feb 2013 at 10:09 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-02-13 08:41:15 AM  
So, that's enough to by a single B-2 stealth bomber?

/or 429 million slinkies
 
2013-02-13 08:48:15 AM  
miss diminutive:  429 million slinkies

WE MUST CLOSE THE SLINKY GAP!
 
2013-02-13 08:50:50 AM  
The monthly surplus was the first since September.

In other news, even the Cubs win once in a while.
 
2013-02-13 08:51:51 AM  

miss diminutive: enough to buy


Sweet merciful crap, I need coffee.
 
2013-02-13 09:02:28 AM  
Bush finally got us out of the debt hell created in the Clinton years. Congrats, all!
 
2013-02-13 09:59:15 AM  
Its obvious then that the wealthy are paying too much in taxes.
 
2013-02-13 10:11:16 AM  
Quick!  Give that money to rich people and huge corporations!
 
2013-02-13 10:12:19 AM  
Anybody concerned with out of control spending is basically an idiot. Since WII we have literally never reduced government spending as much as we have in the last couple years.

www.slate.com
 
2013-02-13 10:12:26 AM  

Gulper Eel: The monthly surplus was the first since September.

In other news, even the Cubs win once in a while.


We had a surplus in September?
 
2013-02-13 10:13:04 AM  
This is because every federal agency with a budget had no idea how much they could spend in the first quarter, so they cut back on overhead spending like it was going out of style.

Obama =/= Clinton

Clinton knew what to do when congress shirked its responsibility to pass a budget, he shut down the federal government. Obama is an idealistic weakling.
 
2013-02-13 10:13:24 AM  
It's because taxes went up--not just for the rich, but mine as well.  How about some spending cuts now?
 
2013-02-13 10:14:17 AM  
Oh, bad news for Republicans.  They need something to create a distraction fast.
 
2013-02-13 10:14:53 AM  
and... it's gone
 
2013-02-13 10:16:12 AM  
So we're running $290 billion in the red for 3 months and somehow we have a $3 billion surplus?

i.huffpost.com
 
2013-02-13 10:16:28 AM  
Sorry. It's all my fault. I'm claiming single zero on my W2 when I could be claiming Married 1 or 2.
 
2013-02-13 10:16:51 AM  

cfroelic: How about some spending cuts now?


Okay, where?
 
2013-02-13 10:16:54 AM  
This is GREAT news for fiscal conservatives!

Now there is clearly NO reason to raise the debt ceiling.

Suck on that, you crappy liberals.
 
2013-02-13 10:16:58 AM  
Oh boy if this year were to run 334 months we will not have to borrow a single penny to pay our bills. This is GREAT news
 
2013-02-13 10:18:15 AM  
Fantastic news.  Now if we just keep that up every month, we'll pay off 2010's deficit spending in ~30 years.  Not counting inflation, mind you.
 
2013-02-13 10:18:39 AM  
Oh, good. I thought we had a 16 TRILLION dollar national debt. Good to know we paid that off.
 
2013-02-13 10:18:41 AM  
 How much was attributed to the delayed filing for tax refunds?
 
2013-02-13 10:18:53 AM  
Big Man On Campus:
Clinton knew what to do when congress shirked its responsibility to pass a budget, he shut down the federal government. Obama is an idealistic weakling.

uh....that's not how it works. Without a budget Congress still has to pass a bill authorizing money for basic services to continue(medicare/SS payments, payroll for essential employees/military service members, etc). That's what happened under Clinton. The President can't just say "nobody come in on Monday, we're shuttin' this thing down"
 
2013-02-13 10:19:09 AM  

Big Man On Campus: This is because every federal agency with a budget had no idea how much they could spend in the first quarter, so they cut back on overhead spending like it was going out of style.

Obama =/= Clinton

Clinton knew what to do when congress shirked its responsibility to pass a budget, he shut down the federal government. Obama is an idealistic weakling.


Actually no.  It's because farm income has to be reported and taxes paid by Jan 15th much like regular income has to be reported and taxes paid by April 15th.  What you are seeing is witheld income/taxes that are being sent in causing a bump in the revenue numbers just like every year.

The structural deficit is still there.
 
2013-02-13 10:19:24 AM  
soopey: W2
 W4
 
2013-02-13 10:19:51 AM  

rev. dave: They need something to create a distraction fast.


I wonder what issue was driven in to the ground with congressional hearings and froth and idiotic political theatre that allowed the GOP to avoid talking about the fact that the economy continues to be fine and government spending has decreased pretty consistently...

wait...

I'll think of it in a minute. I could've sworn something happened.
 
2013-02-13 10:20:59 AM  

untaken_name: Oh, good. I thought we had a 16 TRILLION dollar national debt. Good to know we paid that off.


Is there a reason you put trillion in capital letters?
 
2013-02-13 10:22:11 AM  
I'm really surprised there are still people under the illusion that the United States government can be or will be fiscally solvent at some point. You will all be in a rude awakening in a few years.
 
2013-02-13 10:22:11 AM  

DamnYankees: untaken_name: Oh, good. I thought we had a 16 TRILLION dollar national debt. Good to know we paid that off.

Is there a reason you put trillion in capital letters?


I was temporarily out of the little letters.
 
2013-02-13 10:22:38 AM  

untaken_name: Oh, good. I thought we had a 16 TRILLION dollar national debt. Good to know we paid that off.


Yeah, Obama is so irresponsible! I can't believe he would spend so much without paying off the debt, like all the presidents before him like... um... Andrew Jackson?
 
2013-02-13 10:23:03 AM  

ChuDogg: I'm really surprised there are still people under the illusion that the United States government can be or will be fiscally solvent at some point. You will all be in a rude awakening in a few years.


We're fiscally solvent right now and will be tomorrow. So I don't now what you're talking about.
 
2013-02-13 10:24:58 AM  

hstein3: Fantastic news.  Now if we just keep that up every month, we'll pay off 2010's deficit spending in ~30 years.  Not counting inflation, mind you.


Why would you adjust that for inflation?
 
2013-02-13 10:24:58 AM  

DamnYankees: ChuDogg: I'm really surprised there are still people under the illusion that the United States government can be or will be fiscally solvent at some point. You will all be in a rude awakening in a few years.

We're fiscally solvent right now and will be tomorrow. So I don't now what you're talking about.


Not according to the CBO.
 
2013-02-13 10:25:32 AM  

ChuDogg: DamnYankees: ChuDogg: I'm really surprised there are still people under the illusion that the United States government can be or will be fiscally solvent at some point. You will all be in a rude awakening in a few years.

We're fiscally solvent right now and will be tomorrow. So I don't now what you're talking about.

Not according to the CBO.


We're going to declare bankruptcy tomorrow? Are you aware of something no one else is?
 
2013-02-13 10:25:36 AM  
ChuDogg:
Not according to the CBO.

link please
 
2013-02-13 10:25:41 AM  

GranoblasticMan: cfroelic: How about some spending cuts now?

Okay, where?


Not Job Corps. People actually use that program. Somewhere else.
 
2013-02-13 10:25:59 AM  
So the Bush tax cuts are finally starting to work?
 
2013-02-13 10:26:16 AM  

DamnYankees: ChuDogg: I'm really surprised there are still people under the illusion that the United States government can be or will be fiscally solvent at some point. You will all be in a rude awakening in a few years.

We're fiscally solvent right now and will be tomorrow. So I don't now what you're talking about.


Have you looked at forecasts for the percentage of revenues which interest on debt will take up?
 
2013-02-13 10:26:38 AM  
This is why we need to cut Social Security as quickly as possible. If we wait any longer the deficit crisis might not look so crisisy.
 
2013-02-13 10:26:50 AM  

YixilTesiphon: Have you looked at forecasts for the percentage of revenues which interest on debt will take up?


Is that going to happen tomorrow?
 
2013-02-13 10:26:58 AM  

MadMattressMack: So we're running $290 billion in the red for 3 months and somehow we have a $3 billion surplus?


For January only
 
2013-02-13 10:27:02 AM  

DamnYankees


untaken_name: Oh, good. I thought we had a 16 TRILLION dollar national debt. Good to know we paid that off.

Is there a reason you put trillion in capital letters?


He wanted to be ABSOLUTELY sure everyone saw that he doesn't know the difference between DEBT and DEFICIT.
 
2013-02-13 10:27:05 AM  

GranoblasticMan: cfroelic: How about some spending cuts now?

Okay, where?


We can start with the bloated military. If the air force or army leaders don't want that fancy new weapons system being pushed by an influential congressman, don't buy it. It wouldn't hurt for our carriers to spend a bit more time in US ports. After that we can move on to foreign aid to countries with leaders who bank the money in Switzerland. Maybe some Medicare repairs to eliminate the tens of billions of fraud it gets hit with every year. Also pay and benefit cuts for ALL federal politicians and no more farm subsidies to corporate farms. And last ,but certainly not least, entitlement reform. Get the ball rolling.
 
2013-02-13 10:27:20 AM  

Big Man On Campus: This is because every federal agency with a budget had no idea how much they could spend in the first quarter, so they cut back on overhead spending like it was going out of style.

Obama =/= Clinton

Clinton knew what to do when congress shirked its responsibility to pass a budget, he shut down the federal government. Obama is an idealistic weakling.


Actually, that was Gingrich....
 
2013-02-13 10:27:25 AM  

DamnYankees: Anybody concerned with out of control spending is basically an idiot. Since WII we have literally never reduced government spending as much as we have in the last couple years.

[www.slate.com image 568x346]


But poor people get free cellphones so we must cut spending.
 
2013-02-13 10:28:15 AM  
Meant to preview, not post that.  Payroll tax increase is a large part of the reason that January is a surplus
 
2013-02-13 10:28:48 AM  

Arkanaut: untaken_name: Oh, good. I thought we had a 16 TRILLION dollar national debt. Good to know we paid that off.

Yeah, Obama is so irresponsible! I can't believe he would spend so much without paying off the debt, like all the presidents before him like... um... Andrew Jackson?


Feel free to bold the part of my post which, in your twisted imagination, blamed Obama.
 
2013-02-13 10:28:50 AM  
Helped by 9 billion in SS taxes?

Are we using SS taxes to pay for other stuff again?
 
2013-02-13 10:29:21 AM  

soopey: soopey: W2
 W4


www.northarvestbean.org
 
2013-02-13 10:29:31 AM  

DamnYankees: YixilTesiphon: Have you looked at forecasts for the percentage of revenues which interest on debt will take up?

Is that going to happen tomorrow?


No, but the decisions we make tomorrow have an effect. We can't afford to be nonchalant about the debt.
 
2013-02-13 10:30:01 AM  
Mr. Eugenides: It's because farm income has to be reported and taxes paid by Jan 15th much like regular income has to be reported and taxes paid by April 15th.  What you are seeing is witheld income/taxes that are being sent in causing a bump in the revenue numbers just like every year.

Bam. Happens every year, followed shortly by a clone of the linked article.
 
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