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| Political Threads This section is for Political Threads - Enter at your own risk. If you say you don't want to see what someone posts - don't read it :hihi: |
05-09-2018, 07:37 AM
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#2
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Registered User
Join Date: Nov 2003
Location: RI
Posts: 21,182
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I guess this says it all...
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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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Posted from my iPhone/Mobile device |
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05-09-2018, 07:55 AM
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#3
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Registered User
Join Date: Nov 2007
Posts: 12,632
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Quote:
Originally Posted by spence
I guess this says it all...
Posted from my iPhone/Mobile device
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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." |
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05-09-2018, 08:59 AM
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#4
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Canceled
Join Date: Jun 2003
Location: vt
Posts: 13,068
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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
Posted from my iPhone/Mobile device
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05-09-2018, 09:03 AM
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#5
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Registered User
Join Date: Nov 2007
Posts: 12,632
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Quote:
Originally Posted by Pete F.
Make realistic claims and the media will agree with you
Posted from my iPhone/Mobile device
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who is "the media"? |
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05-09-2018, 10:40 AM
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#6
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Canceled
Join Date: Jun 2003
Location: vt
Posts: 13,068
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Quote:
Originally Posted by scottw
who is "the media"?
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Sorry, i misspoke
The "FAKE" media |
Frasier: Niles, I’ve just had the most marvelous idea for a website! People will post their opinions, cheeky bon mots, and insights, and others will reply in kind!
Niles: You have met “people”, haven’t you?
Lets Go Darwin
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05-09-2018, 10:37 AM
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#7
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Registered User
Join Date: Nov 2003
Location: RI
Posts: 21,182
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Quote:
Originally Posted by Pete F.
Once again claims are exaggerated and the media is called fake for saying that is not really the truth.
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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. |
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05-09-2018, 02:07 PM
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#8
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Registered User
Join Date: Jul 2008
Posts: 20,428
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Quote:
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.
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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. |
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05-09-2018, 02:53 PM
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#9
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Registered User
Join Date: Nov 2003
Location: RI
Posts: 21,182
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Quote:
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.
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The timing doesn't happen every month. April is also tax month by the way.
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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.
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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. |
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05-09-2018, 06:30 PM
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#10
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Registered User
Join Date: Nov 2007
Posts: 12,632
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Quote:
Originally Posted by spence
The economy is growing and every economist I've read said ...
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right..the same economists that said Trump would crash the stock market and destroy the planet |
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05-09-2018, 07:04 PM
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#11
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Registered User
Join Date: Jul 2008
Posts: 20,428
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Quote:
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.
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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?
Posted from my iPhone/Mobile device |
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10-18-2018, 04:28 AM
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#13
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Registered User
Join Date: Jun 2012
Location: Somerset MA
Posts: 9,105
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Quote:
Originally Posted by Jim in CT
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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! |
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10-18-2018, 05:42 AM
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#14
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Super Moderator
Join Date: Sep 2003
Location: Georgetown MA
Posts: 18,178
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Quote:
Originally Posted by wdmso
you already started deflecting comparing 1 month to the year I guess
and the article is from May??
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well, considering he started the thread in May, it was pretty current.
more of those Crack Reading Comprehension skills, I guess |
"If you're arguing with an idiot, make sure he isn't doing the same thing."
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