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Thread: Surprise! Huge US Budget Surplus Shatters Record

  1. #41
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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Quote Originally Posted by poweRob View Post
    Looks like good news. I can't wait for all the deficit hawks to come in here and also crow about how great this is for our economy. You guys will right? Or is the sky still falling?

    Surprise! Huge US Budget Surplus Shatters Record

    The U.S. government posted a budget surplus in June, the latest sign of rapidly improving public finances that could reduce the urgency in Congress to strike a deal to raise the nation's limit on borrowing.

    Rising tax revenues, public spending cuts and big payments to the Treasury from state-backed mortgage firms helped the government take in $117 billion more last month than it paid out, the U.S. Treasury said on Thursday.

    Analysts polled by Reuters had expected a smaller surplus of $39.5 billion.

    June's surplus was the largest for that month on record.
    So furloughs were unnecessary. Anyone else believe this surplus story?
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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Quote Originally Posted by fmw View Post
    I hate to tell you this but my opinion is that republicans would prefer a strong economy moreso than the democrats. Many are business people who will earn more money in a healthy economy.
    Then why does the right-wing have a persistent bearish mentality beginning with the election of Barrack Obama in 2008? The economy is obviously stronger than it was when the man went into office.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Quote Originally Posted by Papa bull View Post
    Wrong. If this was any indication that the economy was improving at a faster pace than we had hoped, we'd see it in the markets. Instead, all we see are the same fuzzy math games that politicians are always playing to sucker the rubes.
    WTF are you talking about? Financial markets (specifically credit markets) are so much more further looking as opposed to lagging data like unemployment. Asset markets recently set all time highs and credit markets are showing signs of increased demand for credit. This has been occurring for months now.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Quote Originally Posted by Kushinator View Post
    Then why does the right-wing have a persistent bearish mentality beginning with the election of Barrack Obama in 2008? The economy is obviously stronger than it was when the man went into office.
    Because they are realists. And I wouldn't categorize the "right wing mentality" as bearish, but very cautious because the economic growth is slow. It is very, very slow. Bernanke keeps backing down on his assertion that QE3 must wind down and only the fact that 85 billion a month in bond buying is keeping the market Bullish. Every time there is a threat to the "free money" from the Fed, the stock market takes a huge dip.
    You can't reason anyone out of a position they didn't reason themselves into in the first place.

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Quote Originally Posted by Kushinator View Post
    WTF are you talking about? Financial markets (specifically credit markets) are so much more further looking as opposed to lagging data like unemployment. Asset markets recently set all time highs and credit markets are showing signs of increased demand for credit. This has been occurring for months now.
    If this "RECORD BUDGET SURPLUS" was real news and real evidence of some wonderful economic boom, the markets would have bounced hundreds of points this morning. Instead it's bouncing around between -10 and +20 points all morning. This is nothing but smoke and mirrors and means absolutely zip to anyone except partisan democrats who are running around spreading this embarrassingly transparent "talking point".
    You can't reason anyone out of a position they didn't reason themselves into in the first place.

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Quote Originally Posted by poweRob View Post
    Looks like good news. I can't wait for all the deficit hawks to come in here and also crow about how great this is for our economy. You guys will right? Or is the sky still falling?

    Surprise! Huge US Budget Surplus Shatters Record

    The U.S. government posted a budget surplus in June, the latest sign of rapidly improving public finances that could reduce the urgency in Congress to strike a deal to raise the nation's limit on borrowing.

    Rising tax revenues, public spending cuts and big payments to the Treasury from state-backed mortgage firms helped the government take in $117 billion more last month than it paid out, the U.S. Treasury said on Thursday.

    Analysts polled by Reuters had expected a smaller surplus of $39.5 billion.

    June's surplus was the largest for that month on record.
    Good thing Republicans resisted Obama and the Democrats pleas to not enforce the sequestration and the end of the payroll tax holiday. Remarkable what good governance can do in opposition to a spendthrift President. If Obama had his way, another $1 trillion stimulus pig-out for government employees would have been slushing around the country.
    "Liberals claim to want to give a hearing to other views, but then are shocked and offended to discover that there are other views." William F. Buckley Jr.

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Quote Originally Posted by Papa bull View Post
    Because they are realists.
    I disagree. Where are the gold bugs?

    And I wouldn't categorize the "right wing mentality" as bearish, but very cautious because the economic growth is slow.
    I would. While the "blue-chip" data releases are rather hum-ho, a deeper look shows an actual recovery. It just so happens that recoveries that follow financial crises are drawn out due to the deleveraging nature of the cycle. Deleveraging and liquidation does not happen all at once; and even if it did, its not something you want. Reason be, it leads to a market being dictated by emotion rather than fundamentals.

    Bernanke keeps backing down on his assertion that QE3 must wind down and only the fact that 85 billion a month in bond buying is keeping the market Bullish. Every time there is a threat to the "free money" from the Fed, the stock market takes a huge dip.
    True, but take into consideration this unchartered territory. Market makers have never navigated 4 years of ZIRP. We should expect the Fed-fighting-speculators to take a bath every now and then.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Somehow I think Republicans worse fear is Obama leaving office with both a surplus/nearly balanced budget and a strong economy....
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Quote Originally Posted by Papa bull View Post
    When any demographic group is so overwhelmingly one-sided as to vote 98% plus for "their color", you know it's racism and that's not a bigoted remark. That's reality. Democrats won't get 98+ percent of the black vote again without another black candidate to pander to capitalize on the racism that is so rampant in the AA community.
    Even calling the victims of racism racists ... Dam, you're a real piece of work ...

    In the first place, Obama got 93% of the black vote ... it just looked like 98% to bigots ...
    He also got 71% of the Latino vote and 73% of the Asian vote? Are Latinos and Asians racists too?
    Gore got 92% of the black vote in 2000 ... 92% compared to Obama's 93% ... Huge difference, no? Were blacks racists in 2000or just if the candidate is black? How about the 88% Kerry got in 2004? Racists as well, or not if the candidate is white?

    Romney got only 47% of the vote in 2012, but got nearly 60% of the white vote. Were the whites who voted for Romney racists, or are blacks (and maybe Latinos and asians) the only racists?

  10. #50
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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Quote Originally Posted by Papa bull View Post
    If this "RECORD BUDGET SURPLUS" was real news and real evidence of some wonderful economic boom, the markets would have bounced hundreds of points this morning.
    Come on man, this **** has been priced in for months.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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