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BREAKING: Fed Runs $114 Billion SURPLUS In April! Thanks Obama!

Posted by on May. 8, 2014 at 4:50 PM
  • 82 Replies
2 moms liked this

 

BREAKING: Fed Runs $114 Billion SURPLUS In April! Thanks Obama!

President Obama’s Socialist-Marxist-Nazi-Communist master plan to destroy the US Economy reached another milestone in April. The U.S. Treasury Department put a $114,000,000,000 dollar surplus on the books.

According to CNN:

Federal coffers saw a 7% increase in individual income taxes and payroll taxes, a 15% increase in corporate income taxes, and a 37% increase in money paid to Treasury by the Federal Reserve.

Last month, the CBO projected that the 2014 shortfall would decline to 2.8% of gross domestic product — or $492 billion. That is well below the 4.1% — or $680 billion — recorded for fiscal year 2013.

This devastating economic news (for Republicans) is just one of many recent disasters resulting from President Obama’s un-American fiscal policies. April also saw unemployment plummet to 6.3 percent the stock market hit a record high, consumer spending skyrocketed, the US Uninsured rate imploded, and finally insurers confirmed Americans are paying their Obamacare premiums.

The GOP has already attempted to prevent future surpluses by blasting through crushing $310 billion tax cuts to big business and adding that directly to the deficit. But not to worry, they did simultaneously vote down $12 million for disadvantaged children! ‘Murika!

The GOP/Tea Party united prepared a statement to counter all this devastating economic news: “Benghazi.”

by on May. 8, 2014 at 4:50 PM
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sweet-a-kins
by Emerald Member on May. 8, 2014 at 4:55 PM

 

Uncle Sam runs $114 billion surplus in April

By Jeanne Sahadi  @CNNMoney May 8, 2014: 9:24 AM ET

us treasury dept

Thanks to lower overall spending and higher tax receipts, Treasury took in $114 billion more than it had to pay out in April, the Congressional Budget Office said.

NEW YORK (CNNMoney)

The U.S. Treasury Department booked a $114 billion surplus in April, the largest for that month since 2008, according to the latest estimates from the Congressional Budget Office released Wednesday.

April typically brings an influx of receipts as Americans file their tax returns.

For the first seven months of this fiscal year, which began on Oct. 1, the CBO estimates the country has racked up a $301 billion deficit, which is $187 billion lower than it was for the same period last year.

Federal coffers saw a 7% increase in individual income taxes and payroll taxes, a 15% increase in corporate income taxes, and a 37% increase in money paid to Treasury by the Federal Reserve.

Related: Deficit now expected to be even lower

Meanwhile, overall spending fell by 2%.

Areas that saw the biggest drops included unemployment benefits and homeland security (both down 31%), agriculture (down 12%) and defense spending (down 5%).

Much of the drop in overall spending is attributable to bigger payments from Fannie Mae and Freddie Mac to Treasury. According to the weird accounting rules of the federal budget, those payments are counted as "negative" spending.

Offsetting the spending decline were increases in Social Security (up 5%) and Medicaid (up 9%).

Buffett on CEO pay and low wages

The trend in higher tax receipts and lower overall spending has been in effect for awhile, because of the economic recovery and spending restraint enacted by Congress.

Last month, the CBO projected that the 2014 shortfall would decline to 2.8% of gross domestic product -- or $492 billion. That is well below the 4.1% -- or $680 billion -- recorded for fiscal year 2013. To top of page

 

http://money.cnn.com/2014/05/07/news/economy/april-budget-surplus-cbo/index.html

erika9009
by Bronze Member on May. 8, 2014 at 6:17 PM
2 moms liked this

It shows when you have the Republicans in charge of the house of reps, spending drops and revenue increases.

____________________________________________________

Erika..

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

sweet-a-kins
by Emerald Member on May. 8, 2014 at 6:29 PM
5 moms liked this

 Actually, they have been trying to sabotage with more tax cuts for years

 

Quoting erika9009:

It shows when you have the Republicans in charge of the house of reps, spending drops and revenue increases.

 

yourspecialkid
by Platinum Member on May. 8, 2014 at 8:06 PM
3 moms liked this

 It is April.  I would thank tax payers such as myself for paying their bill.

 

turtle68
by Mahinaarangi on May. 8, 2014 at 8:08 PM

Isnt that the end of your fiscal year?

quickbooksworm
by Silver Member on May. 8, 2014 at 8:10 PM
5 moms liked this
You must not have attended US History and Economics.

Quoting erika9009:

It shows when you have the Republicans in charge of the house of reps, spending drops and revenue increases.

lga1965
by on May. 8, 2014 at 8:18 PM
5 moms liked this

 The GOP/Tea Party united prepared a statement to counter all this devastating economic news: “Benghazi

laughing

Carpy
by Ruby Member on May. 8, 2014 at 8:39 PM
2 moms liked this

SHHH!  Don't burst their bubble.

Quoting yourspecialkid:

 It is April.  I would thank tax payers such as myself for paying their bill.

 



Carpy
by Ruby Member on May. 8, 2014 at 8:41 PM
1 mom liked this

Americans against the tea party

eye rolling

sweet-a-kins
by Emerald Member on May. 8, 2014 at 8:48 PM
I also posted from CNN

Quoting Carpy:

Americans against the tea party

eye rolling

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