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Thread: Surprise! Huge US Budget Surplus Shatters Record

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    Surprise! Huge US Budget Surplus Shatters Record

    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.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

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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.

    I heard something about this today. Isn't a big portion of that interest from Fannie Mae and Freddie Mac? So this is a government benefit from the foreclosure spree that involved all that robo signing and fraud? I remember when we were going thru ours that the banks basically skimmed the equity off of 20-25% of the housing marketnand the quasi goverment agencies ended up with the properties. This looks anbit like organized crime to me.

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Doesn't surprise me. IMO 30 year fixed rates are a good barometer of the economy. They are chasing the market up to an equilibrium point. Real Estate volume is really starting to improve greatly in my area and we are an off the beaten path market. Unemployment rate still sucks, but people are starting to borrow and spend as credit is loosening up some and reaching Main Street.

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    So sequestration worked.
    "When the people find they can vote themselves money, that will herald the end of the republic." -- Benjamin Franklin

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Quote Originally Posted by PerfectStorm View Post
    So sequestration worked.
    Tax revenues increased. That worked. Sequestration's contribution is to a lower extent. As Tech said, a lot of it was Fannie Mae contribution.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    While a portion is in fact a product of GSE dividends, it is also indicative of a rapidly improving fiscal picture. The deficit as a percentage of GDP for the past four quarters has been nearly halved from the previous four, from 8 to 4.4 percent.

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    This is great news

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    I wouldn't get to happy about the monthly figure given that we still are in the red. The deficit may be shrinking, but it is still not even close to break even levels, much less a surplus. Its good progress but our economic situation isn't over yet.

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Let us know when we're no longer 17 trillion in the hole.
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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Let me know when it happens for more than a month.

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