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This cannot be right. The Obama administration and the Democrats told us that sequestration was supposed to move all people into the streets begging for food and leave our country in economic calamity. Those Republicans must be cooking these numbers to make everything seem wonderful.
I think we haven't yet seen the full impact of the sequester cuts. We will just have to wait and see.
On the other hand, according to Republican economy theory the increased taxes that kicked in this year should have produced lower government revenues. That has yet to occur.
Way to leave out the credit of the sizable spending cuts that were going to cripple the economy (according to Obama and the left), but I won't let facts get in the way of you being a political hack.
Spending STILL rose, so it's NOT sequestration that's responsible for the surplus, it's the increase in REVENUE. In regards to the impact to the economy, sequestration IS starting to hurt (and more pain is to come) but we'll survive it.
Drawing conclusions about the fiscal health of the federal government by looking at a single month's revenues and outlays is about as dumb as trying to draw conclusions about the quality of a football team by watching a single series. Even the Jacksonville Jaguars put together an impressive-looking touchdown drive every once in a while. Doesn't mean they're a good team.
Drawing conclusions about the fiscal health of the federal government by looking at a single month's revenues and outlays is about as dumb as trying to draw conclusions about the quality of a football team by watching a single series. Even the Jacksonville Jaguars put together an impressive-looking touchdown drive every once in a while. Doesn't mean they're a good team.
I agree. One good month doesn't mean we've turned a corner. It's just "one good month" due to various income/expenses hitting at the same time.
This just shows you how dishonest all of this surplus talk is, the government gives F&F $116 billion, and they pay back half of it, and this is called a part of a revenue surplus? It's not revenue, it's money that never really existed, it was computer generated ones and zeros. This amounts to me giving you $116 in monopoly money, and you give me back $66 in Monopoly money, and I tell everyone that I just received $66 billion.
The financial system is broken. Its really that simple. Its akin to trying to farm with waste water from a water park as gamblers in Wall Street play and splash about. They do not directly finance industry. There is no direct investment. It will sustain itself, albeit painfully, as long as the dollar value system remains in tact. However value of that nature is , as we know, is not stable, especially when real capital keeps mouldering. We print money with nothing on the supply side. Amazing how people whine about "Keynesianism " when in fact that would result in roads, bandwidth, electrical grids and other tangible publicly created assets as if strip malls are so much better. We are far worse then activist government Keynesian policy gone bad. We don't waste money on government. We give money to bankers who were running up their credit cards on hookers and continue to drive up the cost of housing. We would be better off closing the banks and just running deficits with tax cuts and rebates. We are already doing money for nothing, but in this case with a big bank subsidy. There is no national debt per se. Its complete fiction. The foreign debt is much more of a concern when we don't make anything anyone wants to buy.
I agree. One good month doesn't mean we've turned a corner. It's just "one good month" due to various income/expenses hitting at the same time.
True, but it is not just one good month. The 2013 Fiscal year is on track to be a huge improvement over prior years. One year good year also doesn't mean we have turned a corner, but the projections for next couple of years show further improvements.
The trend seems to be higher revenues and lower spending, so I'd say the direction is correct, although the speed should be faster.
One time tax changes need to be taken into account.
That does not make a "trend".
The Bush cuts modifications and Obamacare tax changes and FICA reinstatement are one time events that happened last year.
You're not really comparing apples to apples here unless you remove the one time changes and look at the constant revenue/expenses that occurred between the 2 years.
True, but it is not just one good month. The 2013 Fiscal year is on track to be a huge improvement over prior years. One year good year also doesn't mean we have turned a corner, but the projections for next couple of years show further improvements.
We've gone from profuse bleeding to merely severe bleeding. Yeah, its an improvement, but there's still a risk we're going to bleed out before we get it down to a manageable trickle.
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