US had huge budget surplus in June, compared with deficit a year ago

[Tender Branson]

Fiscal Year so far:

The federal government ran a budget deficit of $512 billion from October 2012 through June 2013 (the first nine months of fiscal year 2013), according to CBO’s estimates. That amount is almost $400 billion less than the shortfall recorded during the same period last year because revenues have risen significantly, while the government’s spending has declined.



...

June:

The federal government realized a surplus of $115 billion in June 2013, CBO estimates, in contrast with the $60 billion deficit incurred in the same month last year—a difference of $174 billion. But that comparison is distorted by quirks of the calendar: Because June 1, 2013, fell on a Saturday, certain payments that ordinarily would have been made in June this year were instead made earlier, reducing outlays in June by about $34 billion. A similar payment shift occurred from July to June in 2012, increasing outlays in June 2012 by $39 billion. Without those shifts in the timing of payments, the difference between the surplus for June 2013 and the deficit for June 2012 would have been $102 billion.



http://www.cbo.gov/publication/44400

[Tender Branson]

Will be interesting to see what the actual deficit for the FY will be.

July and August are historical deficit months, while September is a surplus month.

Deficit as a %-age of GDP could be anywhere between 3.5% and 4.5%.

4% looks most likely (deficit of ca. 650 Bio. $)

If the deficit would remain at 512 Bio. $, it would be 3.2% of GDP.

[rob in cal]

   Does this mean I should stop stocking up on weapons, bullets, frozen meal, seeds and other survival gear?  I've got to stop reading so many gloom and doom, sky is falling web sites.  All kidding aside, I like it when a Democratic President meets a GOP house.

[krazen1211]

God bless the glory of sequestration.

[opebo]

God bless the glory of sequestration.

Nonsense.  Increased revenue.

[Grumpier Than Uncle Joe]

God bless the glory of sequestration.

Nonsense.  Increased revenue.

Well revenue is up.......and spending is down, hence Mr. Krazen's glory.

[Snowstalker Mk. II]

>implying that surpluses are inherently a good thing