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U.S. Budget Deficit Below $1 Trillion For First Time In Five Years

Posted by on Oct. 31, 2013 at 2:24 AM
  • 12 Replies

WASHINGTON -- WASHINGTON (AP) — For the first time in five years, the U.S. government has run a budget deficit below $1 trillion.

The government says the deficit for the 2013 budget year totaled $680.3 billion, down from $1.09 trillion in 2012. That's the smallest imbalance since 2008, when the government ran a $458.6 billion deficit.

The deficit is the gap between the government's tax revenue and its spending. It narrowed for the budget year that ended on Sept. 30 because revenue rose while spending fell.

Revenue jumped 13.3 percent to $2.77 trillion, reflecting a slightly better economy and higher tax rates. And government spending declined 2.4 percent to $3.45 trillion, in part because of across-the-board spending cuts that took effect in March.

by on Oct. 31, 2013 at 2:24 AM
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Replies (1-10):
143myboys9496
by Gold Member on Oct. 31, 2013 at 2:25 AM

 "across-the-board spending cuts that took effect in March."

AKA.."the sequester"

Billiejeens
by Ruby Member on Oct. 31, 2013 at 10:34 AM
1 mom liked this

 

The sequester that has had really no affect on 90% of the country?

That sequester?

Quoting 143myboys9496:

 "across-the-board spending cuts that took effect in March."

AKA.."the sequester"


 

codfish
by Jen on Oct. 31, 2013 at 1:39 PM
And again...balanced budget people!!!
In my state our legislators are required to pass a balanced budget every year. There is none if this deficit crap.
This is why our country is $17 trillion in debt.
erika9009
by Silver Member on Oct. 31, 2013 at 1:47 PM

a government balanced budget is only useful to????

Like no one in the real world.............we still have to borrow money from China.  It's like saying "Hey, only your foot is on fire, not your whole leg like last time."

____________________________________________________

Erika..

Children are a blessing and are never inconvenient.............

jobseeker
by Bronze Member on Oct. 31, 2013 at 2:57 PM

Let's put that is perspective:

Would you congratulate you brother for ONLY living $1,000,000 over his income?  Would you be happy if you are sill earning $75,000 and spent $350,000 this year, as opposed to the $400,000 you spent last year?

This is NO great accomplishment!

Billiejeens
by Ruby Member on Oct. 31, 2013 at 4:08 PM
1 mom liked this

 

That's entirely true.

However we are talking inside the Beltway reality versus human reality.

In DC an increase of 7.9 percent when 8.0 percentage was budgeted is considered a "cut".

Quoting jobseeker:

Let's put that is perspective:

Would you congratulate you brother for ONLY living $1,000,000 over his income?  Would you be happy if you are sill earning $75,000 and spent $350,000 this year, as opposed to the $400,000 you spent last year?

This is NO great accomplishment!


 

jobseeker
by Bronze Member on Oct. 31, 2013 at 4:58 PM
2 moms liked this

tTherein lies the problem.  

Washington is playing with OUR money, the taxes we pay from the sweat of our brows.  we could never borrow more than we earn in a year to make our own budgets, but these 'legislators' are NOT being good stewards of our resources.  Both sides of the aisle are to blame, democrats AND republicans need to get real about the programs they fund and the amounts we will borrow to fund them.

Think of our national budget like home.  it has a kitchen, living room, bathrooms and bedrooms.  some homes have 'specialty' rooms, like a media room or storage basement.  then there is the yard.  Instead of repurposing rooms and reorganizing them to meet our nations changing needs, we are building new rooms as we feel it necessary.  Now we have several rooms doing 'sort of' the same thing.  (redundancy)  We NEED men and women in DC who will look at our bugdet with fresh eyes and come from a place of reality.  It WILL hurt.  That goes without saying.  Just like it hurts whenwe concentrate on paying off a debt, doing without one thing to pay that off.  But we will ALL be better at the other end.


Quoting Billiejeens:


That's entirely true.

However we are talking inside the Beltway reality versus human reality.

In DC an increase of 7.9 percent when 8.0 percentage was budgeted is considered a "cut".

Quoting jobseeker:

Let's put that is perspective:

Would you congratulate you brother for ONLY living $1,000,000 over his income?  Would you be happy if you are sill earning $75,000 and spent $350,000 this year, as opposed to the $400,000 you spent last year?

This is NO great accomplishment!





Billiejeens
by Ruby Member on Oct. 31, 2013 at 5:01 PM
2 moms liked this

 

Your bible study to the Choir my friend.

Quoting jobseeker:

tTherein lies the problem.  

Washington is playing with OUR money, the taxes we pay from the sweat of our brows.  we could never borrow more than we earn in a year to make our own budgets, but these 'legislators' are NOT being good stewards of our resources.  Both sides of the aisle are to blame, democrats AND republicans need to get real about the programs they fund and the amounts we will borrow to fund them.

Think of our national budget like home.  it has a kitchen, living room, bathrooms and bedrooms.  some homes have 'specialty' rooms, like a media room or storage basement.  then there is the yard.  Instead of repurposing rooms and reorganizing them to meet our nations changing needs, we are building new rooms as we feel it necessary.  Now we have several rooms doing 'sort of' the same thing.  (redundancy)  We NEED men and women in DC who will look at our bugdet with fresh eyes and come from a place of reality.  It WILL hurt.  That goes without saying.  Just like it hurts whenwe concentrate on paying off a debt, doing without one thing to pay that off.  But we will ALL be better at the other end.

 

Quoting Billiejeens:

 

That's entirely true.

However we are talking inside the Beltway reality versus human reality.

In DC an increase of 7.9 percent when 8.0 percentage was budgeted is considered a "cut".

Quoting jobseeker:

Let's put that is perspective:

Would you congratulate you brother for ONLY living $1,000,000 over his income?  Would you be happy if you are sill earning $75,000 and spent $350,000 this year, as opposed to the $400,000 you spent last year?

This is NO great accomplishment!

 

 

 

 


 

143myboys9496
by Gold Member on Nov. 1, 2013 at 9:41 AM

Nooo the sequester that was SUPPOSED to cripple the country, but didn't.

You're thinking of the other sequester... ;)

Quoting Billiejeens:


The sequester that has had really no affect on 90% of the country?

That sequester?

Quoting 143myboys9496:

 "across-the-board spending cuts that took effect in March."

AKA.."the sequester"




143myboys9496
by Gold Member on Nov. 1, 2013 at 9:41 AM

Thanks for the feature CM!!

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