April set a national record for generating surplus

[Jim in CT]

How about that? Let the denials and deflections begin!

https://www.dailywire.com/news/30365...ign=benshapiro

[spence]

I guess this says it all...

While the news for April is good, a surplus in April is common and some of the record-setting numbers have to do with "shifts in the timing of certain payments that otherwise would have been due on a weekend," the CBO notes. We are also still behind for fiscal year 2018.

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[scottw]

Originally Posted by spence

I guess this says it all...


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you should be applauding this...

"In April, the federal government took in a record sum of $515 billion in taxes, according to a newly released Congressional Budget Office report."

[Pete F.]

The federal budget deficit was $382 billion for the first seven months of fiscal year 2018, CBO estimates, $37 billion more than the shortfall recorded during the same period last year.
The federal budget deficit was $382 billion for the first seven months of fiscal year 2018, the Congressional Budget Office estimates, $37 billion more than the shortfall recorded during the same period last year. Revenues and outlays were higher, by 4 percent and 5 percent, respectively, than they were during the first seven months of fiscal year 2017.
As was the case last year, this year’s outlays were affected by shifts in the timing of certain payments that otherwise would have been due on a weekend. If not for those shifts, outlays and the deficit through April would have been larger, by roughly $40 billion, both this year and last year—but the year-to-year changes would not have been very different.
From the CBO
Once again claims are exaggerated and the media is called fake for saying that is not really the truth.
Make realistic claims and the media will agree with you
Make exaggerated claims and they need to speak truth to power
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[scottw]

Originally Posted by Pete F.

Make realistic claims and the media will agree with you

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who is "the media"?

[spence]

Originally Posted by Pete F.

Once again claims are exaggerated and the media is called fake for saying that is not really the truth.

How about just being able to balance a checkbook? This is like looking at my account on payday and thinking I'm rich when my mortgage is going to be deducted next week.

[Pete F.]

Originally Posted by scottw

who is "the media"?

Sorry, i misspoke
The "FAKE" media

[Jim in CT]

Originally Posted by spence

How about just being able to balance a checkbook? This is like looking at my account on payday and thinking I'm rich when my mortgage is going to be deducted next week.

That timing discrepancy happens every month, unless there was something unique about April 2018. If the timing of debits and credits wasn't unique for April 2018, then it says something that it set a record.

I'm not saying there will be no deficit at the end of the year, of that things are all set. I'm saying that April 2018 set a record for generating surplus.

[spence]

Originally Posted by Jim in CT

That timing discrepancy happens every month, unless there was something unique about April 2018. If the timing of debits and credits wasn't unique for April 2018, then it says something that it set a record.

The timing doesn't happen every month. April is also tax month by the way.

I'm not saying there will be no deficit at the end of the year, of that things are all set. I'm saying that April 2018 set a record for generating surplus.

The economy is growing and every economist I've read said we would expect a short-term bump with the tax law dumping cash into corporations pockets. That being said, as an actuarial I'd think you would understand a single data point doesn't exactly a trend make. As your own article suggests we're still down for the year.

[scottw]

Originally Posted by spence

The economy is growing and every economist I've read said ...

right..the same economists that said Trump would crash the stock market and destroy the planet

[Jim in CT]

Originally Posted by spence

The timing doesn't happen every month. April is also tax month by the way.


The economy is growing and every economist I've read said we would expect a short-term bump with the tax law dumping cash into corporations pockets. That being said, as an actuarial I'd think you would understand a single data point doesn't exactly a trend make. As your own article suggests we're still down for the year.

Yes April is tax month. I believe April was tax month during the 8 obama years too. But this past April generated more surplus. How come?
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[Jim in CT]

Originally Posted by scottw

right..the same economists that said Trump would crash the stock market and destroy the planet

Paul krugman said the us economy would never survive a trump presidency. And people still listen to him.
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[RIROCKHOUND]

Originally Posted by Jim in CT

Paul krugman said the us economy would never survive a trump presidency. And people still listen to him.
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To be fair, his first term isn’t even halfway over yet....
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[Jim in CT]

Originally Posted by RIROCKHOUND

To be fair, his first term isn’t even halfway over yet....
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That's true, and I'm not saying he's going to be a good POTUS. But what evidence is there, that the US economy won't survive hos presidency?

[spence]

Originally Posted by Jim in CT

Yes April is tax month. I believe April was tax month during the 8 obama years too. But this past April generated more surplus. How come?
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Because of the reasons stated in the article you linked to.

I'd note that in March we spent twice as much as we took in. The country isn't run on a monthly budget Jim.

[Pete F.]

Originally Posted by Jim in CT

That's true, and I'm not saying he's going to be a good POTUS. But what evidence is there, that the US economy won't survive hos presidency?

I think the economy will survive better than his presidency.
Pay to play, drain the swamp and lock them up
Funny how the things people complain about the most are the ones they do.
Many politicians are honest and great - but some are knowingly dishonest and basic scum. They should be weeded out!

[Jim in CT]

Originally Posted by spence

Because of the reasons stated in the article you linked to.

I'd note that in March we spent twice as much as we took in. The country isn't run on a monthly budget Jim.

I am aware a month is one point, not likely of much significance. I wonder if you'd say the same thing if Ma Barker was in the White House.

[Jim in CT]

Originally Posted by Pete F.

I think the economy will survive better than his presidency.
Pay to play, drain the swamp and lock them up
Funny how the things people complain about the most are the ones they do.
Many politicians are honest and great - but some are knowingly dishonest and basic scum. They should be weeded out!

"Pay to play, drain the swamp and lock them up"

If you think that sums up his presidency so far, well you are cherry-picking for political reasons. There were plenty of things Obama did that I hated, there were some things he did great (he helped the economy recover, killed the Somali pirates, helped keep alive the programs that led to Bin Ladens death).

You left out some things that Trump did...he appointed a superb (from the conservative view) Supreme Court justice, he put a little more money in most of our pockets, he made every corporation in the country (I think) more profitable by lowering the corporate tax rate), unemployment continues to drop, the stock market continues to rise, and he seems to have fatty over in North Korea taking notice, as he let the 3 hostages go. Aren't those all good things? Why can't you say that out loud?

It would be nice if we could give presidents credit where it's due, and criticism where it's due. This guy deserves a whole lot of criticism, much of his personal behavior is indefensible. But his policies are helping the economy, at least for now.

[Pete F.]

Originally Posted by Jim in CT

"Pay to play, drain the swamp and lock them up"

If you think that sums up his presidency so far, well you are cherry-picking for political reasons. There were plenty of things Obama did that I hated, there were some things he did great (he helped the economy recover, killed the Somali pirates, helped keep alive the programs that led to Bin Ladens death).

You left out some things that Trump did...he appointed a superb (from the conservative view) Supreme Court justice, he put a little more money in most of our pockets, he made every corporation in the country (I think) more profitable by lowering the corporate tax rate), unemployment continues to drop, the stock market continues to rise, and he seems to have fatty over in North Korea taking notice, as he let the 3 hostages go. Aren't those all good things? Why can't you say that out loud?

It would be nice if we could give presidents credit where it's due, and criticism where it's due. This guy deserves a whole lot of criticism, much of his personal behavior is indefensible. But his policies are helping the economy, at least for now.

You are right Jim
Trump is the greatest at some things
He has had far more people in his administration indicted than Obama.
He is meeting with the leader of North Korea, something they have wanted for over thirty years. There are reasons NO prior president has meet with the leaders of North Korea.
Neil Gorsuch has been on the Court for a short time, time will tell.
The economy continues to improve.
Unemployment continues to drop
He signed a temporary decrease in in personal income taxes for some and a permanent decrease for corporations.
The stock market is a all time high level, be careful, remember the recovery under Obama only took 6 years. That was a third or less than previous recoveries. The market is a fickle beast and nobody controls it.
As I've sad before, it is hard to give someone credit when he has already taken more than is due. If they said the economy is doing better, period. Then the media could define it, but when it is defined by the WH as the "superlative" whatever, the responsible media says that is not correct it is actually "this". Then the WH says it is fake and whines.

[Jim in CT]

Originally Posted by Pete F.

You are right Jim

He signed a temporary decrease in in personal income taxes for some and a permanent decrease for corporations..

The personal decreases will likely be made permanent, there was some procedural reason why they couldn't all be made permanent. In any event, a 10-year bump in take home pay is better than no bump, right? I didn't get a tax cut from 2009-2016, and neither did anyone else I know. I did see health insurance costs skyrocket, because despite what any idiot claims, if you insure more people and you cover more things, costs will go up, not down. Maybe Obama should have taken one less course in community activism, and one more course in Finance.

[spence]

Originally Posted by Jim in CT

The personal decreases will likely be made permanent, there was some procedural reason why they couldn't all be made permanent.

It was because the deficit projection would have made the law illegal.

In any event, a 10-year bump in take home pay is better than no bump, right? I didn't get a tax cut from 2009-2016, and neither did anyone else I know. I did see health insurance costs skyrocket, because despite what any idiot claims, if you insure more people and you cover more things, costs will go up, not down. Maybe Obama should have taken one less course in community activism, and one more course in Finance.

Jim, your withholding allowance changed, that doesn't mean your net pay will be that much better for the year.

[Jim in CT]

Originally Posted by spence

It was because the deficit projection would have made the law illegal.


Jim, your withholding allowance changed, that doesn't mean your net pay will be that much better for the year.

I had a CPA check, my tax liability will decrease, because of the expansion of the child tax credits. If I didn't live in a Marxist sh*thole where I pay way more in state/local taxes than just about any other state, my take home pay would increase even more. But the bump I'm getting, is infinitely more than what I got from the feds from 2009-2016. Somebody is doing something better, than was done during those years.

[RIROCKHOUND]

Originally Posted by Jim in CT

I had a CPA check, my tax liability will decrease, because of the expansion of the child tax credits. If I didn't live in a Marxist sh*thole where I pay way more in state/local taxes than just about any other state, my take home pay would increase even more. But the bump I'm getting, is infinitely more than what I got from the feds from 2009-2016. Somebody is doing something better, than was done during those years.

Mine said the same but I am withholding judgement until I see how it shakes out with mortgage interest, some side work and standardized deductions changing before I get too excited about the end of the year..
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[Jim in CT]

Originally Posted by RIROCKHOUND

Mine said the same but I am withholding judgement until I see how it shakes out with mortgage interest, some side work and standardized deductions changing before I get too excited about the end of the year..
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That's the astute approach. Hope it works out for you and me both.

[JohnR]

I JUST LOVE HOW PEOPLE that were ignoring the National Debt, Deficit spending, and other financial errors of the last era are claiming the fiscal high ground today

Originally Posted by RIROCKHOUND

To be fair, his first term isn’t even halfway over yet....
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True, but by many Dem accounts we should be dead by now so he has exceeded expectations there.

[Pete F.]

https://youtu.be/VEeO2On2Uvc
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[wdmso]

Originally Posted by Jim in CT

How about that? xz
https://www.dailywire.com/news/30365...ign=benshapiro

you already started deflecting comparing 1 month to the year I guess
and the article is from May??

this is from yesterday

U.S. Government Deficit Grew 17% in Fiscal 2018
Tax cuts have restrained revenue gains

or

The US budget deficit ballooned to $779 billion this year, the highest since 2012, driven by Trump's tax law and the massive budget deal
https://www.businessinsider.com/us-b...e-2012-2018-10

So to use your own words Let the denials and deflections begin!

[wdmso]

Originally Posted by JohnR

I JUST LOVE HOW PEOPLE that were ignoring the National Debt, Deficit spending, and other financial errors of the last era are claiming the fiscal high ground today




.

who conservatives? seems the say one thing then do another and then support the party and get annoyed when Dems call them out on it?? now thats funny

[The Dad Fisherman]

Originally Posted by wdmso

you already started deflecting comparing 1 month to the year I guess
and the article is from May??

well, considering he started the thread in May, it was pretty current.

more of those Crack Reading Comprehension skills, I guess