U.S. Sets Record for Largest Budget SURPLUS in April

[InTheLight]

Yes, you read that correctly--US sets record for budget surplus in April. Now, this is a big number, not a percentage of anything, and yes, it is April, the month that traditionally collects the most taxes, but still, it is the largest monthly surplus in US history.

Kind of difficult to do, considering the workforce participation is at near record lows and that taxes were just cut. According to the leftists on BB, tax cuts are supposed to create deficits. Huh...
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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.

CBO says April was best month in history for U.S. budget

 

[Reynolds]

Yes, you read that correctly--US sets record for budget surplus in April. Now, this is a big number, not a percentage of anything, and yes, it is April, the month that traditionally collects the most taxes, but still, it is the largest monthly surplus in US history.

Kind of difficult to do, considering the workforce participation is at near record lows and that taxes were just cut. According to the leftists on BB, tax cuts are supposed to create deficits. Huh...
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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.

CBO says April was best month in history for U.S. budget

I thought you were fussing about Trumps tax cuts when they were being negotiated???

 

[KenH]

The actual decrease in the national debt from March 31 to April 30 was $21.4 billion. And so far in calendar year 2018 through April 30 the national debt has increased $575.5 billion. And in the first 7 months of fiscal year 2018 the national debt has increased $823.3 billion.

Debt to the Penny (Daily History Search Application)

 

[InTheLight]

I thought you were fussing about Trumps tax cuts when they were being negotiated???

My complaint was that it was taking too long to get the tax cuts passed. It should have been the first thing he did.

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[InTheLight]

The actual decrease in the national debt from March 31 to April 30 was $21.4 billion. And so far in calendar year 2018 through April 30 the national debt has increased $575.5 billion. And in the first 7 months of fiscal year 2018 the national debt has increased $823.3 billion.

Debt to the Penny (Daily History Search Application)

Yes... and your point is...?

Look, you can't have debt reduction without running surpluses. I'd say April's surplus is a much needed step in the right direction!

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[KenH]

Even when the government was claiming surpluses in the late 90s the national debt still went up every year, mainly because they used surpluses in Social Security(that will have to eventually be paid back) to claim surpluses that were not really happening in the total national debt that was owed.

 

[InTheLight]

Even when the government was claiming surpluses in the late 90s the national debt still went up every year, mainly because they used surpluses in Social Security(that will have to eventually be paid back) to claim surpluses that were not really happening in the total national debt that was owed.

Yes... and?

What does that have to do with April's surplus? Are you just trying to rain on good news?

The first step toward debt reduction is running surpluses.

Trump announced today he wanted to cut $15B in spending. More good news. That's another step toward debt reduction.

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[KenH]

I’ve been following the national debt since the George H.W. Bush administration when the savings and loans were being bailed out. Sorry, but I don’t share your optimism over 1 month’s data, a month that is most likely a yearly one off due to income tax due day.

 

[InTheLight]

I’ve been following the national debt since the George H.W. Bush administration when the savings and loans were being bailed out. Sorry, but I don’t share your optimism over 1 month’s data, a month that is most likely a yearly one off due to income tax due day.

I've been following it longer than that. I don't think I was showing much optimism given that I tempered my comments. It might very well be a one-off month of surpluses. But I think I'm safe in saying that most people would not have predicted a record monthly surplus a couple of months after tax cuts went into effect.