Huge Budget Surplus for June

[maddog42]

"On Thursday June 11th, two economic records were set. The first record shattered was the U.S. government posted a ‘huge’ budget surplus for June, in fact the largest for that month on record at $117 billion."


http://www.politicususa.com/2013/07/11/obamas-economy-shatters-records-huge-budget-surplus-june.html

I would take this article with a grain of salt, but never the less the economy is not as bad as some say. The deficit for the year will still be huge, but it is improving.

[JustRalph]

Over 22 million out of work and 13 million estimated to have given up looking.

Yep, things are dandy!

[Tom]

When you are trillions of dollars in the hole, there is no surplus.
That's like saying you have a surplus of cash when you cash your paycheck.
Talk to me after you pay your bills.

[NJ Stinks]

"On Thursday June 11th, two economic records were set. The first record shattered was the U.S. government posted a ‘huge’ budget surplus for June, in fact the largest for that month on record at $117 billion."


http://www.politicususa.com/2013/07/11/obamas-economy-shatters-records-huge-budget-surplus-june.html

I would take this article with a grain of salt, but never the less the economy is not as bad as some say. The deficit for the year will still be huge, but it is improving.

Let me guess - FOX News has been talking about this all day long.

[Tom]

Why would they talk about something that doesn't exist?
They are a NEWS channel, not a publicity outfit.

[Overlay]

With Federal pay freezes for the last two years and looking at a third such year coming up (by unhappy coincidence, the same period of time used to calculate my average salary for retirement purposes), and unpaid sequestration-related furlough days (which, for me, begin tomorrow) taking effect, is it any wonder there's a surplus? And is there any doubt that, rather than being viewed as Federal workers' contribution to bringing the accumulated national debt down, any such "excess" funds will just be considered a windfall by Congress and the President, and be redirected and spent elsewhere?

[classhandicapper]

This probably has more to do with the "timing" of certain spending and tax receipts than it does to any actual real improvement in the underlying economy. The economy is still in intensive care. Real short term interest rates are still negative (unsustainable), the Fed is still purchasing close to a trillion dollars of treasuries and other financial assets annually (unsustainable), but despite that we are barely growing at all (assuming you believe government stats to begin with) and employment is terrible. The mere mention of "tapering" Fed purchases started to crater markets globally. This is like saying a terminal patient's vital signs are normal while he's being drugged with heart medication, blood pressure medication, water medication, antibiotics, and is on a respirator.

[ElKabong]

Let me guess - FOX News has been talking about this all day long.

No, but the trend of white male 40 & 50-somethings that have had their jobs cut and could only find part time jobs with low pay and no benefits were banded about in depth.

But you're an already retired IRS guy. That wouldn't interest you.

[JustRalph]

http://online.wsj.com/article/SB10001424127887323740804578601472261953366.html?m od=WSJ_hpp_sections_opinion


Yep! Things are just great!!

Mort Zuckerman: A Jobless Recovery Is a Phony Recovery
More people have left the workforce than got a new job during the recovery—by a factor of nearly three.