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CBO: April Was Best Month For Federal Budget in History

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posted on May, 8 2018 @ 12:46 PM
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Well, that tax cut seems to be doing wonders for both people's pocket books and uncle sam. It's almost like the dire projections for the deficit were completely unfounded.

In April the feds spent $297 billion but brought in over half a trillion dollars ($515B). That means there was a surplus of $218 billion! The previous record was $190 billion in 2001.

The CBO was expecting a surplus but not this big, they were expecting about $175 billion. That means for the first six months of FY2018, the deficit is $37B. The projection was that we would be seeing half a trillion dollar deficit this year. That became very unlikely after such strong results in april.

Llink to article



+1 more 
posted on May, 8 2018 @ 12:49 PM
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a reply to: Dfairlite

But.....but....Trump bad......Russian collusion.....affairs......tax cuts just crumbs.



posted on May, 8 2018 @ 12:51 PM
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But the Obama economy was gud tho. He have Obamacare and shovel ready jobs. Da ten trillion in debt is bush fault.



posted on May, 8 2018 @ 12:54 PM
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Wonderful news. Lets keep it going.
Keeping America Great!



posted on May, 8 2018 @ 01:02 PM
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a reply to: Dfairlite

I wonder what the surplus is when adjusted for inflation. I'm sure it's still great, but I don't think it would beat out the previous surplus once adjusted.

I just did a quick calculation on CPI Inflation Calculator and it appears that $190B in 2001 is worth $270B today. Still, a $218B surplus is a great thing!
edit on 8-5-2018 by BomSquad because: (no reason given)



posted on May, 8 2018 @ 01:03 PM
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a reply to: Dfairlite

Hurry and delete this tread before the Trump supporters find out, we have to find a way to spin this and credit it to Obama.

Oh maybe we can convince liberals that a surplus is bad, shouldn’t be that hard if we just use a bunch of buzz words and tell them a surplus is racist.



posted on May, 8 2018 @ 01:05 PM
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a reply to: Dfairlite

As the article states, we will know more about the specifics when the info comes out. Two points in the article that need to be mentioned:


April is always a strong month for government finances, with taxpayers filing their returns for the previous year and settling up what they owe, even as expenditures often dip for the month.

But this year was particularly strong, with receipts jumping 13 percent compared to a year ago.


This is a good thing, depending on how you look at it.


So far, seven months into fiscal year 2018, the government is running a $382 billion deficit. That’s $37 billion worse than last year’s figure through seven months, chiefly because spending has surged 5 percent so far this year.

Higher inflation is driving up the government’s debt payments, while Homeland Security disaster relief, Social Security benefit payments and the Defense Department also saw significant increases.


So it appears this article is bitter sweet. On one hand you have increased revenue, which tax deadlines are playing a role (not sure how conservatives should feel about that), and on the other you still have increased spending which is pushing deficits and inflation which makes debt payments higher.

That means we are still living off of our "credit cards".

I think it would be best to wait for specifics and see how the information plays-out.
edit on 8-5-2018 by introvert because: (no reason given)



posted on May, 8 2018 @ 01:10 PM
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a reply to: introvert

I wonder how much the government made in taxes from people paying taxes on their bitcoin holdings/profits.

I'd be curious to see that.



posted on May, 8 2018 @ 01:10 PM
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Now they have the money to build the wall.
It would pay for itself in a year easily.
The actual cost to taxpayer for illegal aliens is over $50 billion annually.
Facts suck for some I know, this has nothing to do with race.
Those who can't follow our laws don't deserve to be here.



posted on May, 8 2018 @ 01:15 PM
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originally posted by: grey580
a reply to: introvert

I wonder how much the government made in taxes from people paying taxes on their bitcoin holdings/profits.

I'd be curious to see that.


I'd be interested to see how much tax money was paid by those that "repatriated" money that was overseas.

I remember hearing that money was going to start flowing back the US. Wonder how much of an impact that had on revenue.



posted on May, 8 2018 @ 01:31 PM
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a reply to: Dfairlite


So far, seven months into fiscal year 2018, the government is running a $382 billion deficit. That’s $37 billion worse than last year’s figure through seven months, chiefly because spending has surged 5 percent so far this year.


How did you get the deficit is 37 billion?



posted on May, 8 2018 @ 01:34 PM
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a reply to: Dfairlite

And in January - March, the Treasury borrowed $488 billion, the most since 2008.



posted on May, 8 2018 @ 01:39 PM
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a reply to: avgguy

why are you typing in an african american accent?

people talk about health care for all like its a bad thing, perhaps if the republicans would have worked with obama they could have come up w a better plan but they fought him the whole way. its a shame that the most successful country in the history of the world cannot provide its citizens with health care.



posted on May, 8 2018 @ 01:40 PM
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originally posted by: Asktheanimals
Now they have the money to build the wall.
It would pay for itself in a year easily.
The actual cost to taxpayer for illegal aliens is over $50 billion annually.
Facts suck for some I know, this has nothing to do with race.
Those who can't follow our laws don't deserve to be here.


Funny the aliens pay sales tax and property tax.

Their employers however get to skip out on taxes.



posted on May, 8 2018 @ 01:51 PM
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originally posted by: Dfairlite
Well, that tax cut seems to be doing wonders for both people's pocket books and uncle sam. It's almost like the dire projections for the deficit were completely unfounded.

In April the feds spent $297 billion but brought in over half a trillion dollars ($515B). That means there was a surplus of $218 billion! The previous record was $190 billion in 2001.

The CBO was expecting a surplus but not this big, they were expecting about $175 billion. That means for the first six months of FY2018, the deficit is $37B. The projection was that we would be seeing half a trillion dollar deficit this year. That became very unlikely after such strong results in april.

Llink to article

The tax cuts are for this year, 2018, not last year's tax returns.

Good job trying to mislead people though.



posted on May, 8 2018 @ 01:53 PM
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a reply to: Asktheanimals

i don't think we need a wall, we need a bridge uniting all countries and ideas. china had a great wall that isolated them and kept them from the outside world and ideas, they have subsequently been behind us ever since and just now over the last 30 years been able to pull its people out of poverty.

walls and borders are an archaic way of thinking. the world is moving so fast if we wall ourselves off we risk developing an isolationist attitude that could set us back from the rest of the developing world a la china.

the cartels are around because of supply and demand. the u.s. is the single greatest consumer of illegal drugs on earth. either make illegal drug use a capital offense or legalize, tax and regulate drug use, it would cripple the cartels overnight. we should work with mexico to get their governments out from under the grip of the cartel. mexico is a beautiful country with hardworking people, if we can help to get them out of the grip of the cartels and corruption within their country their people would stay in their own country.
edit on 8-5-2018 by conspiracy nut because: (no reason given)

edit on 8-5-2018 by conspiracy nut because: (no reason given)



posted on May, 8 2018 @ 01:58 PM
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a reply to: Dfairlite


“Those payments were mostly related to economic activity in 2017 and may reflect stronger-than-expected income growth in that year,” the analysts said in their monthly budget review. “Part of the strength in receipts also may reflect larger-than-anticipated payments for economic activity in 2018.

The tax bill didn't go into effect until this year. Not 2017.



posted on May, 8 2018 @ 02:01 PM
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a reply to: introvert

I'd be interested to see how much tax money was paid by those that "repatriated" money that was overseas.

I remember hearing that money was going to start flowing back the US. Wonder how much of an impact that had on revenue.


Our company paid $425 million on something like 3 BILLION brought back in. They told us that's why our bonuses were low??????





posted on May, 8 2018 @ 02:02 PM
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a reply to: conspiracy nut

Why would you think that’s an African American accent?



posted on May, 8 2018 @ 02:03 PM
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originally posted by: Asktheanimals
Now they have the money to build the wall.
It would pay for itself in a year easily.
The actual cost to taxpayer for illegal aliens is over $50 billion annually.
Facts suck for some I know, this has nothing to do with race.
Those who can't follow our laws don't deserve to be here.


1. 2/3 of people in the country illegally overstayed visas.

2. Illegal border crossings have been going down all by their lonesome:



3. The "actual cost" you're talking about sounds like something you pulled out of thin air. Everyone has a pet estimate. I'm surprised you didn't go with the FAIR numbers Hannity and Trump use which is > $100 billion a year. (one or both of you is wildly inaccurate — hard to say what the "facts" are.)

4. Speaking of FAIR, it's part of the John Tanton network of anti-immigration orgs (CIS, FAIR, NumbersUSA) that provide all the data for the anti-immigration Right. Tanton himself is a eugenicist who started out as a radical environmentalist. His interest in immigration is actually one of population control. I always find that ironic — right-wingers running around spouting propaganda from a guy who would literally support many of the aspects of Agenda 21 CTs.

5. Saying that "it has nothing to do with race" for you is fine but do you speak for everyone? Because I can assure you that for many people, it's about things other than finances. For example, the unhinged nativist rhetoric that set the tone for Trump's campaign:


They're bringing drugs. They're bringing crime. They're rapists. And some, I assume, are good people.


6. Are you saying we should deport all criminals?

The fact is that stretching back to before there were ever any immigration laws on the books (excluding the various Naturalization Acts), we have had nativists who were against one group or another (or multiple). Their arguments have always been more than similar. This cartoon is really old and targets Chinese (anti-Chinese immigrant sentiment is what birthed the first real immigration legislation: The Page Act and the Chinese Exclusion Act):



Oh look. "They're bringing drugs!" (opium, ironically it was the big pharma that gave us the opiod epidemic not Chinese immigrants) "They're bringing crimes!" (immigrants commit crimes at lower rates than US-born citizens), "They're stealin' our jobs!"

You'll like this one about dirty Irish immigrants:



- They're criminals.
- Some of them are terrorists. (Shoulda had an Irish Ban!)
- They'll vote for the "other side"
- They're a financial burden.

Same #, different generation. Don't you find it strange that hundreds of years later, the arguments are EXACTLY the same and the only thing that changes is nation of origin/ethnicity/race?
edit on 2018-5-8 by theantediluvian because: (no reason given)



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