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Old 02-12-2013, 01:55 PM
 
Location: Florida
76,871 posts, read 47,170,347 times
Reputation: 14726

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U.S. posts $3 billion budget surplus for January | Reuters

(Reuters) - The budget posted a surprise surplus in January for the first time in five years, as the Treasury likely benefited from a windfall when payroll tax cuts expired.

The budget registered a $3 billion surplus, the first time there had been a surplus in January since 2008, Treasury Department data showed on Tuesday. Economists had been looking for a $2 billion gap. The surplus compared with a $27 billion deficit in January 2012.

It appeared the Treasury got a boost from the expiration of a payroll tax reduction on January 1 following the last-minute "fiscal cliff" deal. In its estimate last week, the Congressional Budget Office said the Treasury got an extra $9 billion in taxes from the expiry.

The January surplus means the government's cumulative deficit for the fiscal year, which starts in October, is $290 billion, 17 percent lower than the comparable first four months of fiscal 2012.
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Old 02-12-2013, 02:00 PM
 
Location: Massachusetts
10,029 posts, read 8,311,743 times
Reputation: 4211
Can someone explain how you have a budget surplus when you don't have a budget?
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Old 02-12-2013, 02:03 PM
 
1,169 posts, read 1,511,699 times
Reputation: 763
Quote:
Originally Posted by Rick Roma View Post
Can someone explain how you have a budget surplus when you don't have a budget?


You're right, it's not possible. It's doing the math in their favor.

If my rent and utilities cost $1900 per month and I've paid all of them with the exception of my cable, I have a surplus of $42..................... Before paying my cable.
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Old 02-12-2013, 02:09 PM
 
Location: USA
13,255 posts, read 12,069,249 times
Reputation: 4228
Sounds like good news to me. Hoping that its true for the sake of our country.
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Old 02-12-2013, 02:16 PM
 
13,900 posts, read 9,720,420 times
Reputation: 6856
Quote:
Originally Posted by Rick Roma View Post
Can someone explain how you have a budget surplus when you don't have a budget?
Can you explain how the government operated if it didn't have a budget?
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Old 02-12-2013, 02:33 PM
 
Location: Sonoran Desert
38,955 posts, read 50,875,947 times
Reputation: 28134
Quote:
Originally Posted by Finn_Jarber View Post
U.S. posts $3 billion budget surplus for January | Reuters

(Reuters) - The budget posted a surprise surplus in January for the first time in five years, as the Treasury likely benefited from a windfall when payroll tax cuts expired.

The budget registered a $3 billion surplus, the first time there had been a surplus in January since 2008, Treasury Department data showed on Tuesday. Economists had been looking for a $2 billion gap. The surplus compared with a $27 billion deficit in January 2012.

It appeared the Treasury got a boost from the expiration of a payroll tax reduction on January 1 following the last-minute "fiscal cliff" deal. In its estimate last week, the Congressional Budget Office said the Treasury got an extra $9 billion in taxes from the expiry.

The January surplus means the government's cumulative deficit for the fiscal year, which starts in October, is $290 billion, 17 percent lower than the comparable first four months of fiscal 2012.
Obama is a genius!
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Old 02-12-2013, 02:36 PM
 
Location: Alaska
7,429 posts, read 5,683,522 times
Reputation: 4818
Quote:
Originally Posted by Rick Roma View Post
Can someone explain how you have a budget surplus when you don't have a budget?
LMAO! I was thinking the exact same thing. What's even funnier is the moron politicians will tote this and the sheeple will all sing it is good. We are screwed.
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Old 02-12-2013, 02:38 PM
 
Location: Alaska
7,429 posts, read 5,683,522 times
Reputation: 4818
Quote:
Originally Posted by Winter_Sucks View Post
Can you explain how the government operated if it didn't have a budget?
You are the perfect example of why we are screwed. Your joking with this post right? Please tell me your joking.
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Old 02-12-2013, 02:40 PM
 
15,913 posts, read 20,117,456 times
Reputation: 7693
Quote:
Originally Posted by Winter_Sucks View Post
Can you explain how the government operated if it didn't have a budget?
Simple, it's called print more money when you run out....
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Old 02-12-2013, 02:43 PM
 
118 posts, read 207,224 times
Reputation: 163
According to prospect.org the last time congress passed a budget was in 1997.
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