U.S. to run first (monthly) surplus since 2008: CBO
Source: MarketWatch
The U.S. government recorded a budget surplus of $58 billion in April, the Congressional Budget Office estimated on Monday, breaking a streak of deficits that began in 2008.
The surplus the first of Barack Obamas presidency was the result of both increased tax collection and lower government spending. Before April, the government had not run a surplus since September 2008, the month that the financial crisis struck the U.S. economy. Read CBO report.
The CBOs estimate is released before the Treasury Departments monthly budget report. That report is scheduled for later this week.
Read more: http://www.marketwatch.com/story/us-to-run-first-surplus-since-2008-cbo-2012-05-07?reflink=MW_news_stmp
Populist_Prole
(5,364 posts)Lessee: How will the GOP spin this? Is this or is this not Barack Obama's economy?
Orrex
(63,208 posts)"We should have been running surpluses like this all along, and we would have been if not for this President's pro-big-government, anti-business tax agenda."
Of course it's bullshit, but when has that ever stopped them before?
"Those are bogus numbers. The CBO is a propaganda arm of the Obama administration. They want to keep their jobs so they cook the books to make the President look good."
That will be the explanation among the Faux commentators and other RW media.
DavidDvorkin
(19,475 posts)Liberal_Stalwart71
(20,450 posts)Greedy Ole Party wants to give it back to their rich friends.
MADem
(135,425 posts)who pay it off? It's getting to be absurd!
Liberal_Stalwart71
(20,450 posts)Democrats have to make unpopular decisions when cleaning up Republican mess.
The American people are impatient and blame the Democrats for the mess that Republicans created. So, we vote Republicans back in. The Republicans get drunk on power, making a mess of things AGAIN, and the people vote them out when they've had enough. Cleaning up the mess, Democrats are charged with making unpopular decisions...
....and the cycle continues.
It seems that Americans simply haven't had enough of Republicans. They are poised to elect the Republicans yet AGAIN!!
Until the entire economic and political structure falls, this country will be doomed to repeat mistakes over and over again. They simply haven't had enough of pain inflicted on them by the Republicans, and it's be due to their own fear and loathing.
panopeagenerosa
(44 posts)left Obama a 'fertile' economy. If he'd just thrown it down the cellar door SOMETHING was bound to grow out of it. Because...destruction is creative, right?
Scuba
(53,475 posts)TheWraith
(24,331 posts)And not just the House, don't forget the Senate 2009-2011.
Smilo
(1,944 posts)are suffering from sudden spinning head trauma
skeewee08
(1,983 posts)Iliyah
(25,111 posts)that the CBO is lying. Y'see, when its positive towards the Dems or someone else besides the crazy GOP party, its lies and such lies are destorying America. Its un-pathetic and they must hate GAWD.
annabanana
(52,791 posts)suck it repugs
Stuart G
(38,421 posts)BootinUp
(47,144 posts)bitchkitty
(7,349 posts)ejbr
(5,856 posts)good for the obvious reasons, bad because now the rich have another reason not to pay their share in taxes.
high density
(13,397 posts)After all, we'll have even higher tax collection when the rich pay even less in... Because that's how it works in the opposite world that the GOP lives in.
progressoid
(49,988 posts)ProudToBeBlueInRhody
(16,399 posts)But of course, when Democrats are in office, we are not allowed to talk about surplus.
cstanleytech
(26,291 posts)"September 2008, the month that the financial crisis struck the U.S. economy."
I thought we were in trouble long before that like around 2003 or so.
Drunken Irishman
(34,857 posts)While things weren't great from 2003-2008, the economy hadn't plunged into a recession and the financial markets were, while lower, still at fairly stable levels. The market collapsed in September, which led to a huge spike in job loss.
MADem
(135,425 posts)Gosh, that'll piss off that faux businessman who drove business OUT of Massachusetts when he played at being governor!
Psephos
(8,032 posts)This was done for the publicity value.
So put away the party hats and noise makers.
http://www.zerohedge.com/news/us-posts-first-budget-surplus-42-months-and-it-less-meets-eye
Take a look at the table showing total public debt of the US government for the month of April and you'll see the actual truth if you compare the numbers for April 1 and April 30.
It's as though I haven't paid my May rent yet - so according to my bank account balance, I'm running a surplus. That surplus will disappear when I pay May's and June's rent on June 1 (because although I can delay the rent payment, I can't avoid it without ending up sleeping in my car).
JoePhilly
(27,787 posts)FU GOP
yup