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U.S. government posts $49 billion surplus in January

j-mac

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WASHINGTON (Reuters) - The U.S. government reported a $49 billion surplus in January, the Treasury Department said on Monday.

https://www.investing.com/news/economic-indicators/us-government-posts-49-billion-surplus-in-january-1233032


(CNSNews.com) - The federal government this January ran a surplus while collecting record total tax revenues for that month of the year, according to the Monthly Treasury Statement released today.

January was the first month under the new tax law that President Donald Trump signed in December.

https://www.cnsnews.com/news/article/terence-p-jeffrey/feds-collect-record-taxes-first-month-under-tax-cut-run-surplus


More good news that the usual suspects will ignore.
 
More good news that the usual suspects will ignore.

Too short of time frame to credit the tax cuts. While I would grant that there were some additional bonus checks that got taxed, there's not a whole lot the tax cuts could do in that short a span of time. Over the long haul, we'll continue to see revenues increase as teh economy continues to improve, but what you're posting is just too soon to credit the tax cuts. Id' give credit to a rising market due to greater market confidence in a more conservative/pro-business Congress than anything else.
 
More good news that the usual suspects will ignore.

You make yourself look stupid by posting this and simultaneously supporting policies that double the budget deficit. I don't know how you can't understand how dumb that makes you look.
 
More good news that the usual suspects will ignore.

/facepalm

Did you even look at the pdf that site links to? The surplus months are January, April, June, Sept. Guess when estimated taxes are due. Guess when most people choose to pay end-year taxes. The same months are almost always going to be surplus months because that's when the revenue comes in.





Too short of time frame to credit the tax cuts. While I would grant that there were some additional bonus checks that got taxed, there's not a whole lot the tax cuts could do in that short a span of time. Over the long haul, we'll continue to see revenues increase as teh economy continues to improve, but what you're posting is just too soon to credit the tax cuts. Id' give credit to a rising market due to greater market confidence in a more conservative/pro-business Congress than anything else.

Too short a time frame, yes, but that's just another reason he fails. The overriding reason is that a whole bunch of people paid estimated taxes on or before Jan. 16.

Just look at the monthly receipts pdf. If there's a surplus month, it falls on an estimated tax payment month. April runs the biggest surplus because that's both an estimated tax month and the month when most people put off paying end-year taxes on.
 
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/facepalm

Did you even look at the pdf that site links to? The surplus months are January, April, June, Sept. Guess when estimated taxes are due. Guess when most people choose to pay end-year taxes. The same months are almost always going to be surplus months because that's when the revenue comes in.







Too short a time frame, yes, but that's just another reason he fails. The overriding reason is that a whole bunch of people paid estimated taxes on or before Jan. 16.

Just look at the monthly receipts pdf. If there's a surplus month, it falls on an estimated tax payment month. April runs the biggest surplus because that's both an estimated tax month and the month when most people put off paying end-year taxes on.

<bolded> That makes a lot of sense. We'll have to check back at mid year and see how it's going.
 
You make yourself look stupid by posting this and simultaneously supporting policies that double the budget deficit. I don't know how you can't understand how dumb that makes you look.

Took the words out of my mouth. Wait for the deficit numbers along with interest rate increases to come.
 
You make yourself look stupid by posting this and simultaneously supporting policies that double the budget deficit. I don't know how you can't understand how dumb that makes you look.

You make yourself look stupid for posting as if you are wholly ignorant of the reality that we've always increased government revenues, even when tax cuts have occurred and that the only thing so far that has ever lowered government revenues is a sputtering or weak economy (i.e. recessions, bubbles popping).
 
Ok, first, I did not say it was due to the tax cuts, and neither did CNSnews....In fact they said tax policy which is different....Second, to those liberals that just can't acknowledge good news unless it's their guy in office, sour grapes to you....
 
<bolded> That makes a lot of sense. We'll have to check back at mid year and see how it's going.

Another reason that there was a big surprlus is a change in the overseas holding regulations. A lot of companies are being forced to move their overseas funds back to the USA, and paying taxes on it. While in general, I do not like the tax package, the fact that companies are doing so is I think a GOOD step. For example, Apple is bringing back it's cash, and is doing a one time tax of 38 BILLION dollars. U.S. companies will pay billions in tax on offshore cash piles - Jan. 2, 2018

I suspect that a good portion of this influx is that money. Out of the entire tax package, that is ending a loophole that I think is well over due. It's a one time shot, and will only be good for 2018.. but the ongoing taxation will remain (a good think IMO).
 
Ok, first, I did not say it was due to the tax cuts, and neither did CNSnews....In fact they said tax policy which is different....

Second, to those liberals that just can't acknowledge good news unless it's their guy in office, sour grapes to you....

The only tax policy Trump passed is the tax cut bill. Your defense makes even less sense than your OP.
 
It's not good news, it's just expected.
 
The only tax policy Trump passed is the tax cut bill. Your defense makes even less sense than your OP.

Then don't post if you think it's stupid....replies like this are what's wrong with DP lately.
 
More good news that the usual suspects will ignore.

If anyone believes there is any meaning in a monthly surplus or deficit figure, they are fooling themselves. These numbers go up and down based upon when people and corporations pre-pay their estimated taxes and when they pay their taxes.

There were months that had surpluses during Obama's term but they understood that fact as meaningless and didn't use it as an opportunity to brag, like the orange-twit. Moreover, trying to take credit for January 2018's surplus while ignoring the deficits since April 2017, is like the Vegas gambler who only counts her winnings and not her losses.

None of this will have any effect on the annual deficit that has estimated to be a trillion dollars.


fredgraph.png
 
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Ok, first, I did not say it was due to the tax cuts, and neither did CNSnews....In fact they said tax policy which is different....Second, to those liberals that just can't acknowledge good news unless it's their guy in office, sour grapes to you....

I don't believe in the "sour grapes" thing, because for me it's country over party.
But I have this problem, it's called THINKING.
I wouldn't dare dispute your assertion that the Right is succeeding in "drowning government in the bathtub".
It's true. They are.

The thinking part of me wonders how much it's going to cost when the consequences of that drowning manifest themselves.
Short term January surplus?
Okayfinewhatever, that's cool.
Now show me what happens when we have to pay for some of the other actions in the long term.
No matter how much you insist that America needs to be run "like a business", the fact is, no country should be run that way, because it can't be.
And we the people are not a "product" or a commodity, which is what the natural end of that argument would be.
Where's YOUR BAR CODE?
 
The only tax policy Trump passed is the tax cut bill. Your defense makes even less sense than your OP.

Why can't you leftists celebrate good news? What is it about liberalism that creates this kind of loyalty and desire to always be negative? You buy PROJECTIONS and ignore data because of an ideology that promotes negativity and anti growth economic policies.
 
After 8 years of mediocre news from this sector, I think it is good news...

The economy improved rather greatly under Obama, and you can find these types of numbers in the same tax receiving months under Obama.
 
I don't believe in the "sour grapes" thing, because for me it's country over party.
But I have this problem, it's called THINKING.
I wouldn't dare dispute your assertion that the Right is succeeding in "drowning government in the bathtub".
It's true. They are.

The thinking part of me wonders how much it's going to cost when the consequences of that drowning manifest themselves.
Short term January surplus?
Okayfinewhatever, that's cool.
Now show me what happens when we have to pay for some of the other actions in the long term.
No matter how much you insist that America needs to be run "like a business", the fact is, no country should be run that way, because it can't be.
And we the people are not a "product" or a commodity, which is what the natural end of that argument would be.
Where's YOUR BAR CODE?

I used to argue that Trump isn't really draining the swamp as he promised. It took me awhile to realize that Trump supporters defined the "swamp" very differently from the way I did. I simply misunderstood what they meant, and I think a lot of us liberals do.

I had thought the "swamp" was about self-dealing insiders who profited from their connections in government by pulling strings for their own private benefit or profit. But I now realize that's not what they meant at all. They meant "government officials who help people I don't like."

That's why it doesn't faze Trump supporters at all when he fills the government with lobbyists and corporate executives who'll directly benefit from their regulatory decisions, or when he relaxes or simply ignores ethics laws and regulations.

That's not the swamp to them. Instead, the swamp is government employees who write regulations to help "Those People," or prevent discrimination, or make people use energy-efficient light bulbs. It doesn't matter whether those are civil service employees who'll never earn an extra dime due to the decisions they make. They're still the "swamp." And Trump is absolutely clearing THAT swamp -- and we will be all worse off because of it.
 
If anyone believes there is any meaning in a monthly surplus or deficit figure, they are fooling themselves. These numbers go up and down based upon when people and corporations pre-pay their estimated taxes and when they pay their taxes.

There were months that had surpluses during Obama's term but they understood that fact as meaningless and didn't use it as an opportunity to brag, like the orange-twit.

None of this will have any effect on the annual deficit that has estimated to be a trillion dollars.


fredgraph.png

What is it about liberalism that cannot allow celebration of good economic news? Your ideology is a failure and we are seeing that in the actual results we are seeing right not, record employment is generating more FIT revenue as well as SS and Medicare money but that reality escapes you. Full time employment generates more revenue than the part time employment Obama generated.
 
Why can't you leftists celebrate good news? What is it about liberalism that creates this kind of loyalty and desire to always be negative? You buy PROJECTIONS and ignore data because of an ideology that promotes negativity and anti growth economic policies.

It's not "Good News". It happens regularly. It is not a sign of things getting better.

Focus on deficits on a year by year basis. Oh, and bear in mind that they're about to explode up and past a trillion again, thanks to the GOP


Then don't post if you think it's stupid....replies like this are what's wrong with DP lately.

No, what's wrong with DP lately is a lot of people are saying a whole lot of really stupid and often dishonest stuff.

Why should people just sit there silently listening to it?
 
It's not "Good News". It happens regularly. It is not a sign of things getting better.

Focus on deficits on a year by year basis. Oh, and bear in mind that they're about to explode up and past a trillion again, thanks to the GOP




No, what's wrong with DP lately is a lot of people are saying a whole lot of really stupid and often dishonest stuff.

Why should people just sit there silently listening to it?

No it doesn't happen regularly but keep buying the leftwing spin.

Debt to the Penny (Daily History Search Application)
 
The economy improved rather greatly under Obama, and you can find these types of numbers in the same tax receiving months under Obama.

Except that I am being told now that they don't mean squat....So, what else you got? :mrgreen:
 
Why can't you leftists celebrate good news? What is it about liberalism that creates this kind of loyalty and desire to always be negative? You buy PROJECTIONS and ignore data because of an ideology that promotes negativity and anti growth economic policies.

Will the deficit increase over the next 4-8 years?
 
No, what's wrong with DP lately is a lot of people are saying a whole lot of really stupid and often dishonest stuff.

Why should people just sit there silently listening to it?

Oh, so you only want to civilly engage people that you agree with....Ok, there's already a site that may suit you better, here's the link....

https://www.dailykos.com/
 
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