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Surprise! Huge US Budget Surplus Shatters Record

windowdressing said:
if nothing else, it's making cons a little nervous ... OH MY GOD! THE ECONOMY MAY BE IMPROVING AT A FASTER PACE THAN WE HAD HOPED! NOOOOOOOOOOOOOOOOOOOO .... :eek:
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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.
 
Papa bull said:
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.
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it's too early to tell what it means, but it's enough to worry the GOP ... the last thing they need in 2014, but especially in 2016 is an improved economy ... that, coupled with their wars agtainst women, the poor, the working class, gays, minorities, will kill them ....
 
poweRob said:
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?
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It is good for our economy. But it is also driven by short-term factors; it doesn't exactly put us anywhere close to even for the year.

IOW, if we were morbidly obese, this month we actually got off the couch and walked on the treadmill for 15 minutes a day. Before going back to eating cheeseburgers. Hooray.
 
windowdressing said:
if nothing else, it's making cons a little nervous ... OH MY GOD! THE ECONOMY MAY BE IMPROVING AT A FASTER PACE THAN WE HAD HOPED!
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Er... not as such. The majority of it apparently came from Fannie and Freddie paybacks. So, we spent $200 Bn to get back $50 Bn. Yay. Go Team.
 
Budget surplus, means your not spending as much as you budgeted for *that period*.
 
windowdressing said:
it's too early to tell what it means, but it's enough to worry the GOP ... the last thing they need in 2014, but especially in 2016 is an improved economy ... that, coupled with their wars agtainst women, the poor, the working class, gays, minorities, will kill them ....
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What makes you think it's "enough to worry the GOP"? Apparently, they're only releasing the result of their fuzzy math on that this morning and the markets aren't impressed..... what makes you think smoke and mirrors has the GOP worried? In actuality, an improved economy would be good for everyone and I don't think it's going to have much of an impact on the next election, anyway. Hillary isn't black, so there goes that high black turnout and 98 percent plus vote from the black community. Democrats will be hard pressed to field someone that can beat "anybody but Obama", no matter what the economy is like. Right now it's limping the right direction. I wish it was running with a full head of steam instead.
 
The total US debt also declined by 521 million. Public debt increased by 20 billion and intra-gov debt decreased by 20 billion
 
cpwill said:
Er... not as such. The majority of it apparently came from Fannie and Freddie paybacks. So, we spent $200 Bn to get back $50 Bn. Yay. Go Team.
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still, it's making the GOP and cons nervous ... go figure ...
 
Papa bull said:
What makes you think it's "enough to worry the GOP"? Apparently, they're only releasing the result of their fuzzy math on that this morning and the markets aren't impressed..... what makes you think smoke and mirrors has the GOP worried? In actuality, an improved economy would be good for everyone and I don't think it's going to have much of an impact on the next election, anyway. Hillary isn't black, so there goes that high black turnout and 98 percent plus vote from the black community. Democrats will be hard pressed to field someone that can beat "anybody but Obama", no matter what the economy is like. Right now it's limping the right direction. I wish it was running with a full head of steam instead.
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why is it so often that a con is only a stone's throw away from a bigoted statement? How do you feel about Latinos? They voted over 70% for Obama? Asians? 71%. And women? How do you feel about them (but especially young women)? Gays? Do you like any of them? Maybe you're one? Are you any of these and hate yourself for it?
 
windowdressing said:
I agree, as long as it is not under the big-eared guy ... What could be clearer
than this after witnessing the last five years of a GOP, especially in the House, bent on destroying this man and his presidency? (and I'm far from Obama's biggest fan, but this has been utterly shameful ...)
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Talking points again ?

There are 40 jobs bills from the House sitting in the Senate that will never see the light of day.
 
windowdressing said:
still, it's making the GOP and cons nervous ... go figure ...
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Liberal math should make everyone nervous.

Your'e actually celbrating a huge loss.

Go figure.
 
windowdressing said:
why is it so often that a con is only a stone's throw away from a bigoted statement? How do you feel about Latinos? They voted over 70% for Obama? Asians? 71%. And women? How do you feel about them (but especially young women)? Gays? Do you like any of them? Maybe you're one? Are you any of these and hate yourself for it?
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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.
 
rathi said:
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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With unemployment still @ 7.6%, it should not be close to break even levels.
 
Fenton said:
BWHAHA..!!

A " surplus" with a rising debt.

Only in Liberal-ville.

You would think these Libs would get tired of being lied to and manipulated, but apparently....no.
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I know this is hard for partisans to accept but... deficit ≠ debt.
 
poweRob said:
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.​
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So furloughs were unnecessary. Anyone else believe this surplus story?
 
fmw said:
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.
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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.
 
Papa bull said:
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.
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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.
 
Kushinator said:
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.
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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.
 
Kushinator said:
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.
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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".
 
poweRob said:
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.​
Click to expand...

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.
 
Papa bull said:
Because they are realists.
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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.
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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.
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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.
 
Papa bull said:
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.
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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?
 
Papa bull said:
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.
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Come on man, this **** has been priced in for months.
 
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