Papamoka Straight Talk: US Budget Surplus is Back

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Sunday, June 03, 2012

US Budget Surplus is Back

For the first time since 2008 the US Government has run a surplus. And the winner in all of this is the current occupant of the White House, President Obama! This was posted over at the Congressional Budget Office, aka CBO, in the beginning of May...

The Treasury realized a surplus of $58 billion in April 2012, CBO estimates, in contrast with the $40 billion deficit reported for the same month last year. The results in both years were influenced by shifts in the timing of certain payments; adjusted for those shifts, the surplus in April 2012 would have been $27 billion, compared with a deficit of $13 billion in April 2011.

I wonder how the Republican's are going to take credit for this? You know it's going to happen. Just a matter of time. One thing is for certain, they didn't help the economy in any single way as the party of "NO!".

Papamoka

3 Comments:

Anonymous said...: Talk about misleading.
A payment made at a certain time?
We still have over one trillion debt for the yearly budget and a 15 trillion dollar debt.
Don't be like a Republican.; 12:07 PM
Papamoka said...: So we should toss the $58 billion in the trash Anon??? You see hope and you say fuck that because Obama has it under his watch. Same people said the same thing when Clinton had SURPLUS after surplus. But W. fixed all that by giving it back to the rich instead of paying the fucking debt down.; 4:18 PM
Sue said...: The surplus -- the first of Barack Obama’s presidency -- was the result of both increased tax collection and lower government spending. I'm not an expert on this but isn't it true we can have a budget surplus and that has nothing to do with the deficit. It's also true Pres. Obama has decreased government spending but the R's can't talk about that because it's too much of a positive for Obama! You can have a budget deficit, budget surplus, or balanced budget, the surplus is A GOOD THING no matter how you spin it!; 4:48 PM

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