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(Washington Post)   The United States is projected to have a $71 billion surplus and the smallest deficit in over six years. THANKS, OBAMA. No, really...thanks. It's like they halcyon days of the Bill Clinton administration   (washingtonpost.com) divider line 112
    More: Spiffy, economic surplus  
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2691 clicks; posted to Politics » on 12 Jul 2014 at 4:14 PM (9 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2014-07-12 02:35:55 PM
That article was way too long
 
2014-07-12 02:50:19 PM
Um... forgive me, but how do you have a surplus and a deficit in the same budget at the same time?
 
2014-07-12 02:52:10 PM

Benevolent Misanthrope: Um... forgive me, but how do you have a surplus and a deficit in the same budget at the same time?


Monthly surplus, annual deficit.
 
2014-07-12 03:04:51 PM

Mentat: Benevolent Misanthrope: Um... forgive me, but how do you have a surplus and a deficit in the same budget at the same time?

Monthly surplus, annual deficit.


Ah.  Thank you.
 
2014-07-12 03:07:35 PM
Dammit.  Who can we declare war on to stimulate our economy?  Kazhakstan has oil.  Can we invade them?
 
2014-07-12 03:25:50 PM
Yeah, I think I'll just wait until the third or fourth revision of these numbers before I take note.
 
2014-07-12 03:40:53 PM
No thanks for austerity.
 
2014-07-12 04:16:32 PM

Dusk-You-n-Me: No thanks for austerity.


Shows what you know libtard, just look at how fantastic Europe is doing thanks to the Austerity measure that have been implemented there.
 
2014-07-12 04:18:07 PM
I'm gonna need to look at the Unskewed numbers. These have too many statistical quarks.
 
2014-07-12 04:18:27 PM
Democrats. The fiscally responsible party.
 
2014-07-12 04:19:09 PM

BravadoGT: Yeah, I think I'll just wait until the third or fourth revision of these numbers before I take note.


Yeah, because over the last four years, the revisions have always been upward.

And by that I mean downward.
 
2014-07-12 04:20:29 PM

BravadoGT: Yeah, I think I'll just wait until the third or fourth revision of these numbers before I take note.


No you won't.
 
2014-07-12 04:22:23 PM
No, no.  This can't possibly be true.  I mean, isn't Obama a giant socialist who wants to spend all of our hard earned money?
 
2014-07-12 04:22:50 PM
Does anyone have a link to a story on this topic that contains more than one sentence?

/and no, they don't get credit for the semi-colon, it's still one sentence
 
2014-07-12 04:22:51 PM
A surplus? That means we have enough money for tax cuts!
 
2014-07-12 04:23:28 PM

Mentat: Benevolent Misanthrope: Um... forgive me, but how do you have a surplus and a deficit in the same budget at the same time?

Monthly surplus, annual deficit.



It's a lot like having a surplus on payday . . . you received more money than you spent that day, but you're still in hole for the week, month, year, life, etc.
 
2014-07-12 04:23:29 PM
10 IF [LEN(subby'sHeadline) > LEN (articleHeadline)] AND [LEN (articleHeadline) = LEN (actualArticle)] THEN PRINT $err(articleFail)
20 END THREAD
 
2014-07-12 04:24:25 PM

BravadoGT: Yeah, I think I'll just wait until the third or fourth revision of these numbers before I take note.


Paging Mr. Chambers to white courtesy phone..
 
2014-07-12 04:25:06 PM

BravadoGT: Yeah, I think I'll just wait until the third or fourth revision of these numbers before I take note.


Whats that?  I cant hear you over the sound of the butthurt.
 
2014-07-12 04:28:02 PM
Good thing Obama made the Bush tax cuts permanent and added his own "95% of Americans" tax cuts on top of that, or this never would have happened.
 
2014-07-12 04:28:33 PM

qorkfiend: A surplus? That means we have enough money for tax cuts!


that would be funny if people didn't actually think like that.

I'm sad now.
 
2014-07-12 04:30:50 PM

hardinparamedic: qorkfiend: A surplus? That means we have enough money for tax cuts!

that would be funny if people didn't actually think like that.

I'm sad now.


The same kind of people who say "we don't need an EPA, the environment's much cleaner than it was!" and "we don't need civil rights legislation, our society's much fairer than before!" You know, morons.
 
2014-07-12 04:31:15 PM
Keep in mind this is a surplus for the month, not the year. Even so, it's going down.

Here is a link (beware, it's Market Watch)

http://www.marketwatch.com/story/us-posts-705-billion-june-budget-sur p lus-2014-07-11-141031458

FTA: Including the June surplus, the budget deficit for the first nine months of the 2014 fiscal year totaled $366 billion, down 28% from the same period a year ago. That is the smallest year-to-date budget deficit since 2008.
 
2014-07-12 04:31:18 PM
I'm sorry, the rules dictate that Obama is culpable for ALL deficits because he's a fascist socialist cryptoIslamist, but Congress is responsible for ALL surpluses because they're capitalist puppy-kisses-and-sugar-cookies Job Creators.
 
2014-07-12 04:31:33 PM

BravadoGT: Yeah, I think I'll just wait until the third or fourth revision of these numbers before I take note.


um, you already took note
 
2014-07-12 04:32:43 PM
A better article, minus partylinehackmitter's kool-aid-drenched supine worshipfulness.

The Treasury Department said Friday that its June surplus totaled $71 billion, following a $130 billion deficit in May. The government also ran a surplus in June 2013, bolstered by dividends from Fannie Mae, the mortgage giant under federal conservatorship for the past six years.

For the first nine months of this budget year, the deficit totals $366 billion, down 28 percent from the same period in 2013. Tax receipts are up 8 percent compared to the prior year-to-date, while spending has increased 1 percent.

The Congressional Budget Office is forecasting a deficit of $492 billion for the full budget year ending Sept. 30. That would be the narrowest gap since 2008.

In 2008, the government recorded a deficit of $458.6 billion, which was the record high for deficits up to that time.
But with the outbreak of the recession, deficits soared to unprecedented levels, exceeding $1 trillion for four consecutive years. Tax revenues fell during that period, while government boosted spending in an attempt to stabilize the financial system and provide relief to people who had lost jobs.

The yearly deficit peaked at $1.4 trillion in 2009 during the worst of the financial crisis. It gradually fell from there, plunging to $680.2 billion last year.

Over the next decade, CBO is projecting that the deficits will total $7.6 trillion.

The deficit will fall to $469 billion in 2015 before rising again and topping $1 trillion annually starting in 2023, according to the CBO. Spending on the government's major benefit programs, including Social Security and Medicare, will drive those increases as more baby boomers retire.
 
2014-07-12 04:33:18 PM

Wooly Bully: The same kind of people who say "we don't need an EPA, the environment's much cleaner than it was!" and "we don't need civil rights legislation, our society's much fairer than before!" You know, morons.


My personal fave is "You never hear anything about the ozone hole anymore, now do you? Government solves nothing, home dunk, libtard."
 
2014-07-12 04:33:19 PM
2.bp.blogspot.com

Still, Obama makes Bush look like a wise fiscal steward.
 
2014-07-12 04:35:17 PM

Gulper Eel: The deficit will fall to $469 billion in 2015 before rising again and topping $1 trillion annually starting in 2023, according to the CBO. Spending on the government's major benefit programs, including Social Security and Medicare, will drive those increases as more baby boomers retire.


Projections of budget surpluses or deficits more than a year or two out are pretty much useless and pretty much only invoked by politicians to support whatever it is they want to do anyway.
 
2014-07-12 04:39:21 PM

Flying Lasagna Monster: [2.bp.blogspot.com image 850x531]

Still, Obama makes Bush look like a wise fiscal steward.



You wanna know why everybody here that understands how deficits and fiscal years actually work thinks that you are stupid?
 
2014-07-12 04:39:37 PM

Flying Lasagna Monster: [2.bp.blogspot.com image 850x531]

Still, Obama makes Bush look like a wise fiscal steward.


You mean the Bush budgets that didn't include the costly Iraq and Afghanistan wars?
 
2014-07-12 04:42:03 PM
So, we get a good Democratic President in place, the economy starts to improve over 8 years and now the GOP wants to take over again.

https://www.youtube.com/watch?v=KyAgdCZJ4Cw
 
2014-07-12 04:42:04 PM

Flying Lasagna Monster: [2.bp.blogspot.com image 850x531]

Still, Obama makes Bush look like a wise fiscal steward he kept two wars off the books.

 
2014-07-12 04:48:24 PM
There was no surplus under Clinton.  There wasn't even a budget cut.  Washington's definition of budget cut is "didn't increase the budget as much as we wanted".
 
2014-07-12 04:49:48 PM

Summoner101: You mean the Bush budgets that didn't include the costly Iraq and Afghanistan wars?


Budget deficits in the chart include the wars, but thanks for playing.
 
2014-07-12 04:53:04 PM

Flying Lasagna Monster: [2.bp.blogspot.com image 850x531]

Still, Obama makes Bush look like a wise fiscal steward.


Gee, could something have happened in 2008/2009 that affected those numbers? Nope, nothing that comes to mind.

/Your "point" would be like posting a graph from 1915 to 1955 and try to use it to claim that FDR was some sort of spendthrift because of the huge bulge in 1941-1945.
 
2014-07-12 04:56:06 PM

syrynxx: Dammit.  Who can we declare war on to stimulate our economy?  Kazhakstan has oil.  Can we invade them?


Montana and the Dakotas.

/Stay away from Wyoming though. I have it on good authority it's never been conquered from the left or from the right.
 
2014-07-12 04:56:30 PM

OgreMagi: There was no surplus under Clinton.  There wasn't even a budget cut.  Washington's definition of budget cut is "didn't increase the budget as much as we wanted".


That's funny, I remember when the Treasury was getting a little worried that the quarterly T-bill auction wasn't going to be enough to meet demand and that was going to drive interest rates up. Thank God George Bush gave everyone in the nation 300 bucks, that solved that problem in a hurry.
 
2014-07-12 04:58:14 PM
Hey, it's the quarterly "we have a surplus this month because of the way taxes are paid" thread.

OgreMagi: There was no surplus under Clinton.


In order to make that statement, you must believe the SS Trust Fund is not an accounting fiction.
 
2014-07-12 05:03:34 PM
Smallest in six years...so we're almost to Bush tax cuts and war levels again. Hooray, I guess.
 
2014-07-12 05:12:34 PM

syrynxx: Dammit.  Who can we declare war on to stimulate our economy?  Kazhakstan has oil.  Can we invade them?



Well, as we've recently hit the number 1 spot for oil production, why not just invade ourselves? Think of all the savings!
 
2014-07-12 05:13:51 PM

OgreMagi: There was no surplus under Clinton.  There wasn't even a budget cut.  Washington's definition of budget cut is "didn't increase the budget as much as we wanted".


origin.factcheck.org

It's going to look like we're ignoring you, but keep posting.
 
2014-07-12 05:14:12 PM
Democrats are amazed every morning when sunlight appears in the sky.Every few months we get these naive rosy submissions about monthly surpluses.
 
2014-07-12 05:14:49 PM

Flying Lasagna Monster: Summoner101: You mean the Bush budgets that didn't include the costly Iraq and Afghanistan wars?

Budget deficits in the chart include the wars, but thanks for playing.


woooooooooooooooooosh
 
2014-07-12 05:15:34 PM

asquian: syrynxx: Dammit.  Who can we declare war on to stimulate our economy?  Kazhakstan has oil.  Can we invade them?


Well, as we've recently hit the number 1 spot for oil production, why not just invade ourselves? Think of all the savings!


We could finally bring ourselves democracy and freedom.
 
2014-07-12 05:18:16 PM

BMFPitt: Hey, it's the quarterly "we have a surplus this month because of the way taxes are paid" thread.

OgreMagi: There was no surplus under Clinton.

In order to make that statement, you must believe the SS Trust Fund is not an accounting fiction.


That's a shaky statement. It is, and it isn't. The SS trust fund is a nebulous monster, one whose corporeal existence depends on the level of light in the room. You can be technically correct saying that SS has all the money it needs, that there is no lock box and Congress is raiding the fund, and that SS is bankrupt. It's Schroedinger's retirement.
 
2014-07-12 05:19:15 PM
Economic Recovery + Sequestration = smaller budget deficits

Fascinating.
 
2014-07-12 05:21:18 PM

El Pachuco: origin.factcheck.org

It's going to look like we're ignoring you, but keep posting.


That chart is using numbers that ignore inter-agency transfers.  Since excess social security dollars must by law purchase US treasury bonds, the government is double counting Social Security money as general income.  It should be counted as debt, not an asset.  It's like taking cash against your credit card and putting it into your savings account.
 
2014-07-12 05:21:24 PM

eiger: Gulper Eel: The deficit will fall to $469 billion in 2015 before rising again and topping $1 trillion annually starting in 2023, according to the CBO. Spending on the government's major benefit programs, including Social Security and Medicare, will drive those increases as more baby boomers retire.

Projections of budget surpluses or deficits more than a year or two out are pretty much useless and pretty much only invoked by politicians to support whatever it is they want to do anyway.


Where's that "number of husbands per day" comic?
 
2014-07-12 05:24:22 PM

llortcM_yllort: Economic Recovery + Sequestration = smaller budget deficits

Fascinating.


So sequestration is a good thing now?

I still remember when the GOP was trying to blame that on the Democrats.
 
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