U.S. Budget Just Made History: Best Month Ever

[CFM]

This is great news, and I'll give Trump the credit for the short-term economic boost.

I think we're in more trouble long-term, but hope I'm wrong on that.

You're wrong about most things. Why would this be any different.

[CFM]

don't believe the numbers

Unless the same site said something good about your black President.

[J Craft]

This is from people and corporations paying taxes at the old rate, and the recovery which President Obama carefully ushered in.

Trump gets very little credit for this. The biggest effect Trump had was psychological, and began before he even took office. Rich white conservatives wanted it to happen, but couldn't bring themselves to invest under Obama and cause Obama to look like a success. So they held out on the hope that Trump would be elected, and then let loose the day after the election.

95% of the credit goes to Obama, 5% to Trump for tacking his name and fanatical TV following onto it.

Just dumb.

This boon is from an increase in jobs, and confidence in the expansive economic growth.

Obamanomics was a deathnell to growth and investments, both in goods and in services.

[dukkha]

tax reform is in effect for THIS YEAR...sheesh..

[J Craft]

Tax cuts for the Win!

BOOM: Trump Tax Cuts Lead To Largest Ever Monthly Budget Surplus

[cancel2 2022]

This is great news, and I'll give Trump the credit for the short-term economic boost.

I think we're in more trouble long-term, but hope I'm wrong on that.

Yeh well you are going to die eventually, did you know that?

[Irish Exit]

In April, the federal government took in a record sum of $515 billion in taxes, according to a newly released Congressional Budget Office report. During that time, we spent $297 billion. Yes, you read that correctly: We actually took in more than we spent — a lot more. That $218 billion surplus is, in fact, a new record, beating the previous record set back in 2001 ($190 billion) by $28 billion.
As The Washington Times points out, the surplus surprised CBO analysts, who were predicting about $40 billion less, though some of that has to do with a shift in timing of payments. In its report, the CBO suggests that the unexpectedly high tax revenues was a result of "stronger-than-expected" economic growth last year and in early 2018.

"Those payments were mostly related to economic activity in 2017 and may reflect stronger-than-expected income growth in that year," reads the summary. "Part of the strength in receipts also may reflect larger-than-anticipated payments for economic activity in 2018. The reasons for the added revenues will be better understood as more detailed information becomes available later this year."
While the news for April is good, some of it has to do with "shifts in the timing of certain payments that otherwise would have been due on a weekend," the CBO notes, and we are still behind for Fiscal Year 2018. "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," the CBO reports. "Revenues and outlays were higher, by 4 percent and 5 percent, respectively, than they were during the first seven months of fiscal year 2017."
Here's the section from the new report summarizing the revenues and outlays from April:


The federal government realized a surplus of $218 billion in April 2018, CBO estimates—$35 billion larger than the surplus in April 2017.
CBO estimates that receipts in April 2018 totaled $515 billion—$59 billion (or 13 percent) more than those in the same month last year. Individual income and payroll taxes rose by $73 billion (or 20 percent), on net. Nonwithheld payments for those taxes, largely final payments of 2017 taxes, rose by $60 billion. Withholding of individual income and payroll taxes rose by $7 billion (or 4 percent). Withheld taxes rose both because wages and salaries were higher and because April 2018 had one more business day than April 2017. However, those factors were partially offset because the share of wages withheld for taxes was lower, CBO estimates, reflecting the new withholding tables issued in January. Corporate income tax payments declined by $14 billion (or 24 percent).
Total spending in April 2018 was $297 billion, CBO estimates—$24 billion more than the sum in April 2017.
The largest changes in outlays were as follows:

• Net interest on the public debt rose by $6 billion (or 21 percent).
• Social Security benefits rose by $4 billion (or 5 percent).
• Spending for military programs of the Department of Defense rose by $4 billion (or 11 percent).
• Medicaid benefits rose by $3 billion (or 10 percent).

Spending for other programs and activities increased or decreased by smaller amounts.

So a lot of people had to pay in when they filed their personal returns. Let us know how next month's is for comparison.

[Cancel 2020.1]

Yeh well you are going to die eventually, did you know that?

You seem angrier than you used to.

[PostmodernProphet]

It makes no sense to me why people want an economy to do badly just to help their side politically.

I hope Trump is the best economic President in history. I don't think he will be, but if he is, I'll celebrate that.

unfortunately you won't be celebrating it here, since we have a permaban bet if he doesn't double the deficit........

[Cancel 2020.1]

unfortunately you won't be celebrating it here, since we have a permaban bet if he doesn't double the deficit........

Gosh, how sad that would be.

[PostmodernProphet]

Gosh, how sad that would be.

just let me know when the national debt hits $40T and I will pack my bags.....

[domer76]

#MAGA

This country may be ok after all, despite the lefts best efforts to doom

lol

The federal deficit was $37 billion more than the same period last year.

[Rune]

Just dumb.

This boon is from an increase in jobs, and confidence in the expansive economic growth.

Obamanomics was a deathnell to growth and investments, both in goods and in services.

Every graph in the world proves you are a mental defective.

[Rune]

tax reform is in effect for THIS YEAR...sheesh..

The receipts are from last year...sheesh..

[countryboy]

The receipts are from last year...sheesh..

Wait, April of 2018 is last year? I think your flux capacitor is malfunctioning, LOL.