U.S. posts $117 billion June budget surplus !

Started Jul 12, 2013 | Discussions thread
lownine
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Re: U.S. posts $117 billion June budget surplus !
In reply to 57even, Jul 12, 2013

57even wrote:

Todd Ka wrote:

57even wrote:

Todd Ka wrote:

Joe Ogiba wrote:

"The federal government posted a budget surplus of $117 billion in June, the Treasury Department said Thursday, reflecting both higher tax receipts and lower spending in the month and keeping the U.S. on track for its lowest full-year deficit in five years. "

http://www.marketwatch.com/story/us-posts-117-billion-june-budget-surplus-2013-07-11?link=MW_pulse

Total government lie. Only in government accounting can you call any so called "unspent money" a surplus when there is a multi trillion dollar deficit.

They might as well say "We are going to spend 100 trillion dollars next month" and then when they don't, call it a "surplus". Total BS.

As long as there is a deficit there can never be a surplus.

Do you understand anything at all about finance?

I do. But most people do not. When they here surplus in this context, they don't understand what it really means.

Perhaps you don't.

Running a budget surplus means you don't have to add to the deficit, and you can reduce the amount, reducing interest on the "loan" and creating even larger surpluses next time.

If you have a mortgage, you could also claim to be in debt. But if you can service the payments, having a level of debt when interest rates are low is not a big deal.

All Western economies are running a deficit. The issue is whether they can service the payments or not, or whether they may default, which means they cannot borrow more to cover a budget deficit which means they are effectively bankrupt. The US has never been in that position.

Now the only reason this is not "good news" apparently is because the Democrats did it. If the Republicans had done it you would be crowing like a cockerel. Unfortunately the Republicans actually created both a debt mountain AND reduced taxes and causes a world wide recession by lending everyone else's money to people who could not afford to service loans.

The fact that Obama managed to turn this around in 6 years is an achievement.

For the last time...Please!  Obama is the one with the gray hair on his HEAD.  Bernanke has the gray hair on his CHIN!  Can't ANYONE keep that straight?

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