April set a national record for generating surplus

[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
Posted from my iPhone/Mobile device

[scottw]

Originally Posted by Pete F.

Make realistic claims and the media will agree with you

Posted from my iPhone/Mobile device

who is "the media"?

[Pete F.]

Originally Posted by scottw

who is "the media"?

Sorry, i misspoke
The "FAKE" 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.

[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 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.
Posted from my iPhone/Mobile device

[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.
Posted from my iPhone/Mobile device

To be fair, his first term isn’t even halfway over yet....
Posted from my iPhone/Mobile device

[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?
Posted from my iPhone/Mobile device

[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?
Posted from my iPhone/Mobile device

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.

[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.