US budget deficit down more than 31% in first 6 months of FY2014

[Tender Branson]

WASHINGTON (MarketWatch) -- The U.S. ran a budget deficit of $36 billion in March, the Congressional Budget Office estimated Monday. That is $71 billion less than the deficit of $107 billion recorded in March 2013.

Receipts in March were up 15.5% and spending fell by 2%.

For the first six months of the fiscal year, the deficit is $413 billion, $187 billion less than the shortfall for the year-ago period.

http://www.marketwatch.com/story/us-march-budget-deficit-36-billion-cbo-2014-04-07

http://www.cbo.gov/publication/45237

...

The budget deficit is expected to come in at 2.5-3.0% of GDP this year, down from 4.1% in FY2013.

And down from 10% when the financial crisis hit ...

[Lief 🗽]

Terrible news. The teabagger enforced austerity is holding the economy back.

[Marnetmar]

Terrible news. The teabagger enforced austerity is holding the economy back.

Why would this have anything to do with the tea party?

[AggregateDemand]

Terrible news. The teabagger enforced austerity is holding the economy back.

Austerity is spending restriction and discipline. We're still spending at an inflated rate. The deficit is falling due to higher tax revenues and higher tax rates.

[rob in cal]

I feel like its 1996 all over again, when ballooning deficits started plunging.  Funny how a GOP congress (of course in the 90's we had a GOP house and senate) combined with a Dem president leads to positive deficit outcomes.

[Fmr President & Senator Polnut]

I know it helps when you're an automaton "ggrrr taxes bad... government spending makes baby Jesus cry " etc - one of the problems since the GFC was the tax receipts took a hit when the economy went sliding backwards, that hit personal and corporate income taxes, that hit property values, which impacted land taxes.

The fact that tax receipts are up, is a GOOD thing. It shows increased economic activity and their flow-ons.

[Adam Griffin]

Terrible news. The teabagger enforced austerity is holding the economy back.

We're still spending at an inflated rate. The deficit is falling due to higher tax revenues and higher tax rates.

This will no doubt be the new talking point for lambasting OBAMA'S RECKLESS DEFICITS over his final two years; "we've reduced deficits to the point of insignificance but not in the way we like, so we're still gonna b[inks]ch".

[Fmr President & Senator Polnut]

Terrible news. The teabagger enforced austerity is holding the economy back.

We're still spending at an inflated rate. The deficit is falling due to higher tax revenues and higher tax rates.

This will no doubt be the new talking point for lambasting OBAMA'S RECKLESS DEFICITS over his final two years; "we've reduced deficits to the point of insignificance but not in the way we like, so we're still gonna b[inks]ch".

... and if only taxes were LOWER, then there would be more economic activity and therefore they're generate higher revenues from a lower base... I mean duh.

Again... the fact that this deficit reduction is coming off the back of greater economic activity and NOT gutting spending any further is a good news story. But the ideologues will never be happy.

[Adam Griffin]

Terrible news. The teabagger enforced austerity is holding the economy back.

We're still spending at an inflated rate. The deficit is falling due to higher tax revenues and higher tax rates.

This will no doubt be the new talking point for lambasting OBAMA'S RECKLESS DEFICITS over his final two years; "we've reduced deficits to the point of insignificance but not in the way we like, so we're still gonna b[inks]ch".

... and if only taxes were LOWER, then there would be more economic activity and therefore they're generate higher revenues from a lower base... I mean duh.

Again... the fact that this deficit reduction is coming off the back of greater economic activity and NOT gutting spending any further is a good news story. But the ideologues will never be happy.

[AggregateDemand]

... and if only taxes were LOWER, then there would be more economic activity and therefore they're generate higher revenues from a lower base... I mean duh.

Again... the fact that this deficit reduction is coming off the back of greater economic activity and NOT gutting spending any further is a good news story. But the ideologues will never be happy.

It has nothing to do with ideology.

If you eat 3,000 calories per day, you're going to have to burn calories to maintain healthy weight. You can lift weights to increase work output and gain muscle mass. You can run and do cardio training to increase work output and endurance. You can walk around in circles, which burns insufficient calories, and only makes you good at walking in circles.

Republicans are the people who say "If we're not going to change our workout regimen, we might as well cut government caloric intake to 2,000 calories per day, and stop walking circles". Democrats are the people who say "I can't believe Republicans think there is something better than walking in circles".

[Flake]

... and if only taxes were LOWER, then there would be more economic activity and therefore they're generate higher revenues from a lower base... I mean duh.

Again... the fact that this deficit reduction is coming off the back of greater economic activity and NOT gutting spending any further is a good news story. But the ideologues will never be happy.

It has nothing to do with ideology.

If you eat 3,000 calories per day, you're going to have to burn calories to maintain healthy weight. You can lift weights to increase work output and gain muscle mass. You can run and do cardio training to increase work output and endurance. You can walk around in circles, which burns insufficient calories, and only makes you good at walking in circles.

Republicans are the people who say "If we're not going to change our workout regimen, we might as well cut government caloric intake to 2,000 calories per day, and stop walking circles". Democrats are the people who say "I can't believe Republicans think there is something better than walking in circles".

It's a bit more complicated than that

[MurrayBannerman]

It'd be nice if we could reform social programs, cut waste in defense, and cut down on overall pork. That way we could start investing in government spending that will help grow our economy in the long run like stellar infrastructure.

Oh, who am I kidding? I must live in a fantasy land.

[Fmr President & Senator Polnut]

It'd be nice if we could reform social programs, cut waste in defense, and cut down on overall pork. That way we could start investing in government spending that will help grow our economy in the long run like stellar infrastructure.

Oh, who am I kidding? I must live in a fantasy land.

Are you sure you're a Republican?

[Fmr President & Senator Polnut]

... and if only taxes were LOWER, then there would be more economic activity and therefore they're generate higher revenues from a lower base... I mean duh.

Again... the fact that this deficit reduction is coming off the back of greater economic activity and NOT gutting spending any further is a good news story. But the ideologues will never be happy.

It has nothing to do with ideology.

If you eat 3,000 calories per day, you're going to have to burn calories to maintain healthy weight. You can lift weights to increase work output and gain muscle mass. You can run and do cardio training to increase work output and endurance. You can walk around in circles, which burns insufficient calories, and only makes you good at walking in circles.

Republicans are the people who say "If we're not going to change our workout regimen, we might as well cut government caloric intake to 2,000 calories per day, and stop walking circles". Democrats are the people who say "I can't believe Republicans think there is something better than walking in circles".

Actually, the Congressional GOP are acting like anorexics.

[AggregateDemand]

Actually, the Congressional GOP are acting like anorexics.

Every fat child who's denied cake thinks he's being starved to death.

Medicaid, Medicare, Social Security, Welfare, SNAP, and so forth are mainly pure fat. About 20% of our economy is pure fat, depending on the social spending habits of the state in question. We've been converting economic muscle to fat for decades, and now our economy requires constant stimulus to produce the output and public funding we require. The economic forecast for federal spending suggests we will be morbidly obese in about 1 decade, as we continue converting economic muscle into entitlement pork.

Explaining government nutritional science to American liberals is like trying to fell Ironbark with a dull spoon. Of course liberals think Republicans are anorexics. Anyone who stands between them and the buffet is fascist pig, who hates women, minorities, and social justice. Meanwhile, in the real world, the US economy is still slumping along, which is not what the rest of the world expected when they promised not to devalue their currencies.

[MurrayBannerman]

It'd be nice if we could reform social programs, cut waste in defense, and cut down on overall pork. That way we could start investing in government spending that will help grow our economy in the long run like stellar infrastructure.

Oh, who am I kidding? I must live in a fantasy land.

Are you sure you're a Republican?

Did you notice the words "cut" and "reform social programs" in there?

[Antonio the Sixth]

Terrible news. The teabagger enforced austerity is holding the economy back.

[Fmr President & Senator Polnut]

Actually, the Congressional GOP are acting like anorexics.

Every fat child who's denied cake thinks he's being starved to death.

Medicaid, Medicare, Social Security, Welfare, SNAP, and so forth are mainly pure fat. About 20% of our economy is pure fat, depending on the social spending habits of the state in question. We've been converting economic muscle to fat for decades, and now our economy requires constant stimulus to produce the output and public funding we require. The economic forecast for federal spending suggests we will be morbidly obese in about 1 decade, as we continue converting economic muscle into entitlement pork.

Explaining government nutritional science to American liberals is like trying to fell Ironbark with a dull spoon. Of course liberals think Republicans are anorexics. Anyone who stands between them and the buffet is fascist pig, who hates women, minorities, and social justice. Meanwhile, in the real world, the US economy is still slumping along, which is not what the rest of the world expected when they promised not to devalue their currencies.

Wow... funny considering you were the one saying not to expect coherent arguments from liberals... and you drop that on us.

Do we have another Wonkish on our hands?

[ag]

Actually, the Congressional GOP are acting like anorexics.

Every fat child who's denied cake thinks he's being starved to death.

Medicaid, Medicare, Social Security, Welfare, SNAP, and so forth are mainly pure fat. About 20% of our economy is pure fat, depending on the social spending habits of the state in question. We've been converting economic muscle to fat for decades, and now our economy requires constant stimulus to produce the output and public funding we require. The economic forecast for federal spending suggests we will be morbidly obese in about 1 decade, as we continue converting economic muscle into entitlement pork.

Explaining government nutritional science to American liberals is like trying to fell Ironbark with a dull spoon. Of course liberals think Republicans are anorexics. Anyone who stands between them and the buffet is fascist pig, who hates women, minorities, and social justice. Meanwhile, in the real world, the US economy is still slumping along, which is not what the rest of the world expected when they promised not to devalue their currencies.

Wow... funny considering you were the one saying not to expect coherent arguments from liberals... and you drop that on us.

Do we have another Wonkish on our hands?

It is coherent. Repulsvie, of course, but coherent. There is no reason to consider the author a stupid person - he is simply a not very decent one.

[krazen1211]

2,010,894
2,159,899
2,292,841
2,471,957
2,655,050
2,728,686
2,982,544
3,517,677
3,457,079
3,603,059
3,537,127
3,454,605 <- OMG CUTS CUTS CUTS CUTS WAAAAAAAAAA
3,650,526

[AggregateDemand]

Wow... funny considering you were the one saying not to expect coherent arguments from liberals... and you drop that on us.

Do we have another Wonkish on our hands?

Surely you can handle a metaphor about unfit government, and a political party that refuses to fund productivity or reduce tax burden on the economy.

[AggregateDemand]

It is coherent. Repulsvie, of course, but coherent. There is no reason to consider the author a stupid person - he is simply a not very decent one.

15% of the population lives below the poverty line. It is indecent to pretend that we can care for all of those people and all of America's retirees with charity alone.

[SWE]

Terrible news. The teabagger enforced austerity is holding the economy back.

[Fmr President & Senator Polnut]

Wow... funny considering you were the one saying not to expect coherent arguments from liberals... and you drop that on us.

Do we have another Wonkish on our hands?

Surely you can handle a metaphor about unfit government, and a political party that refuses to fund productivity or reduce tax burden on the economy.

More than capable, thank you. I just happen to think it's a ridiculous metaphor to compare the economy to.

[Joe Republic]

Actually, the Congressional GOP are acting like anorexics.

Every fat child who's denied cake thinks he's being starved to death.

Medicaid, Medicare, Social Security, Welfare, SNAP, and so forth are mainly pure fat.

Ha ha, poor people are disgusting, aren't they?  So greedy!

We should take all that 'fat' and pile it onto the starving military budget, amirite?