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CBO: April was best month in history for U.S. budget
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Arrow CBO: April was best month in history for U.S. budget - 05-08-2018, 07:22 AM

A monthly budget surplus???!!!!

Great shades of Caesars ghost!!

Is Bill Clinton in the house???

April was best month in history for U.S. budget, according to CBO figures



The federal government took in a record tax haul in April en route to its biggest-ever monthly budget surplus, the Congressional Budget Office said, as a surging economy left Americans with more money in their paychecks — and this more to pay to Uncle Sam.

All told the government collected $515 billion and spent $297 billion, for a total monthly surplus of $218 billion. That swamped the previous monthly record of $190 billion, set in 2001.

CBO analysts were surprised by the surplus, which was some $40 billion more than they’d guessed at less than a month ago.


Analysts said they’ll have a better idea of what’s behind the surge as more information rolls in, but for now said it looks like individual taxpayers are paying more because they have higher incomes.

“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 reasons for the added revenues will be better understood as more detailed information becomes available later this year.”

Official numbers are due out from the Treasury Department in a few days, but the CBO is usually accurate to within a couple billion dollars.

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.

The news couldn’t come at a better time for President Trump and congressional Republicans, who were facing major questions about the damage last year’s tax-cut package might do to future deficits. Just a month ago the CBO projected that the deficit would quickly soar back to $1 trillion a year.

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.


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05-08-2018, 09:01 AM

Yes, it is normal that in some months, the government has a surplus.

In fact, as you must know since you posted it up yourself not so long ago, there has already been such a month.

Of all the months, April is the most common month for such a surplus, because that's the month when tax day occurs.

AMAZING!!!! (not)

Meanwhile, the government borrowed about $490 billion last quarter to meet its bills.

Quote:
Earlier on Monday the Treasury said net borrowing totaled $488 billion from January through March, a record for that period and about $47 billion more than it had previously estimated, according to a statement released in Washington.
Bloomberg


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Last edited by Sofla; 05-08-2018 at 09:07 AM.
  
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05-08-2018, 03:32 PM

Great news for hard working Americans! Making America great again is on a roll.


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05-08-2018, 07:04 PM

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Originally Posted by PRED View Post
Great news for hard working Americans! Making America great again is on a roll.
Then when prior months in the PBO term hit all time record tax receipt numbers, that meant the US was on a roll, then, also?

Sev put those up several times when it happened, usually reported at CNSnews.com.

Here are few of the stories they wrote on those times, from a search function at their site. (I only showed the first page, but they had at least 9 pages of results):

Search results

Tax Revenues Hit Record in First 5 Months of FY14; 5-Month Deficit Still $377B

(AP Photo) (CNSNews.com)- Inflation-adjusted federal tax revenues hit a record $1,104,947,000,000 in the first five months of fiscal 2014, ... tax intake in the first five months of a fiscal year occurred ...

CNSNews.com Staff - 03/17/2014 - 15:30
$404,155,000,000: Taxes Set Record in First 2 Months of FY15—Deficit Still $179B

continued to rake in tax dollars at a record rate in November as the federal ... in total receipts, according to the Monthly Treasury Statement released ... title="Record Tax Revenues for October and November This continued to follow ...

CNSNews.com Staff - 12/10/2014 - 19:11
$406.7B: Monthly Federal Tax Revenues Hit All-Time Record in April; Individual Income Taxes Up 36%

to newly released data from the U.S. Treasury. Overall federal tax revenues ... are due on April 15, April is almost always the peak month for federal tax ... monthly tax revenues had hit their historic peak in April 2008, when ...

CNSNews.com Staff - 05/13/2013 - 18:14
Tax Revenues Set Record for October; Feds Still Run Monthly Deficit of $1,050 Per Household

title="Federal Tax Receipt for October In October, the first month of fiscal 2015, ... started fiscal 2015 by setting yet another record for inflation-adjusted tax ... for taxes collection for that month, the federal government spent $1.57. ...

CNSNews.com Staff - 11/14/2014 - 13:43
$416,014,000,000: Federal Taxes Set Record in First 2 Months of FY16; $2,785 Per Worker; Feds Still Run $201.1B Deficit

the government was on its way to setting a tax record for that year. Despite the record tax revenues of $416,014,000,000 in the first two months ... in the country as of September. The record-setting $416,014,000,000 in taxes ...

Terence P. Jeffrey - 12/10/2015 - 16:58
$213,300,000,000: Individual Income Taxes Set Record in First 2 Months of FY17

tax revenues through the first two months of fiscal 2017 (Oct. 1, 2016 ... inflation calculator), the record $213,300,000,000 in individual income taxes ... Despite hitting this all-time record for individual income-tax revenues ...

Terence P. Jeffrey - 12/12/2016 - 19:46
Federal Tax Revenues Set Record Through April

receipts in the first seven months of FY 2014 was the individual income tax ... according to the Monthly Treasury Statement. Despite this record revenue, ... title="Record Federal Tax Revenues In fiscal 2013, the federal government also ran ...

CNSNews.com Staff - 05/13/2014 - 12:51
Federal Tax Revenues Set Record Through June; Feds Still Running $385.8B Deficit

record tax receipts in the first nine months of FY 2014 was the individual ... on Sept. 30, 2014.) ype="node" title="Record tax revenues ... will collect a record amount in inflation-adjusted tax revenues. When adjusted ...

CNSNews.com Staff - 08/13/2014 - 12:37
Federal Tax Revenues Set Record Through May; Feds Still Running $436B Deficit

source for the federal government’s record tax receipts in the first eight ... Kaster) (CNSNews.com)- Federal tax revenues continue to run at a record pace ... $1,934,919,000,000, according to the Monthly Treasury Statement. Despite record revenue, ...

CNSNews.com Staff - 02/06/2015 - 08:55
$2.66T: Tax Revenues for FY14 Hit Record Through August; Gov’t Still Runs $589B Deficit

hit a record $2,663,426,000,000 for the first 11 months of the fiscal ... receipts,” including all revenue from individual income taxes, corporate income ... taxes, customs duties, and “miscellaneous receipts.” The largest share ...

CNSNews.com Staff - 09/12/2014 - 16:49


.


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05-08-2018, 08:16 PM

More Winning!
Viva Trump.


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05-09-2018, 04:54 AM

And you believe the numbers.

Voters.



Jeff Livingston
  
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05-09-2018, 05:58 AM

Quote:
Originally Posted by chefjeff View Post
And you believe the numbers.

Voters.



Jeff Livingston
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05-09-2018, 06:02 AM

Quote:
Originally Posted by Sofla View Post
Yes, it is normal that in some months, the government has a surplus.

In fact, as you must know since you posted it up yourself not so long ago, there has already been such a month.

Of all the months, April is the most common month for such a surplus, because that's the month when tax day occurs.

AMAZING!!!! (not)

Meanwhile, the government borrowed about $490 billion last quarter to meet its bills.



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The founding fathers set in place a system where every man was King and every President, including George Washington, has worked to take your rights away, to tax you into slavery, to divide you on political/social and economic lines and to make sure you never find out that your ancestors were King for a day.


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05-09-2018, 06:05 AM

Quote:
Originally Posted by bdcues View Post
If someone said it was sunny out you would piss on yourself just to say it was raining.
We libertarians get the shit all the time for complaining about the obvious crimes of govt; isn't it nice to see the smell go to others?

Welcome the help, I say,



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