The annual deficit shrunk by nearly a third, the size of the debt owned by investors began to shrink, and the government borrowed money for free.
The Congressional Budget Office’s monthly review for April, released earlier this week, bears good news. The deficit was $489 billion through the first seven months of fiscal 2013, compared with $720 billion in the first seven months of fiscal 2012, a decline of $230 billion, or 32 percent. Meanwhile, the government collected so much money in April that it paid down about $50 billion of the debt it owes to investors around the world.
The miracle cure for deficits—last fiscal year it was $1.089 trillion—is growth and higher taxes. Now we’re getting both. In the U.S. today there are two million more people working than a year ago, at slightly higher wages. That translates into more payroll and income taxes. Payroll taxes were raised substantially on January 1, 2013, from 4.2 percent of the first $133,700 to 6.2 percent. And higher taxes on the investment and regular income of very high earners went into effect as well. What’s more, in anticipation of the higher taxes, companies in 2012 shoveled dividends and bonuses out the door in late 2012. In the first few months of 2013, especially in April, people had to pay tax on all that income.
In the first six months of 2013, revenues rose 12.5 percent from the year before. Meanwhile, thanks to declining spending on unemployment benefits, winding down of two wars, and the sequester, spending fell—about 2.4 percent in the first six months of fiscal 2013. The trends continued—and probably accelerated—in April. CBO estimated that the government reported a surplus of $122 billion in April 2013—more than twice the size of the surplus it notched in April 2012.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
NEW YORK — A worldwide gang of criminals stole a total of $45 million in a matter of hours by hacking their way into a database of prepaid debit cards and then draining cash machines around the globe, federal prosecutors said Thursday — and outmoded U.S. card technology may be partly to blame.
this is how they melt away deficit....it's all about virtual value and politics.....we could claim the deficit void today if we don't want to piss off other countries and their virtual value....
all numbers...call it dollars/yen/rubbels/pounds/paper clips/buttons or whatever else....it's all virtual....
what's your virtual value(credit score)...what's your health score?...ADP the payroll company will track you for your alotted trade units and your value....
each human is a deficit until they are 'valued'....shame shame shame
if we talk about 'the government' deficit we don't look to the net we place on ourselves.....
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
Thank God the GOP runs the house- the place where spending bill are brought forward.
"While Foreign Terrorists were plotting to murder and maim using homemade bombs in Boston, Democrap officials in Washington DC, Albany and here were busy watching ME and other law abiding American Citizens who are gun owners and taxpayers, in an effort to blame the nation's lack of security on US so that they could have a political scapegoat."
Thank God the GOP runs the house- the place where spending bill are brought forward.
Thank god we passed the obama "tax the rich" proposal and added jobs to increase revenue.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
yeah, as if the tax increas on the 'rich' is the source of the revenue! LOL
"While Foreign Terrorists were plotting to murder and maim using homemade bombs in Boston, Democrap officials in Washington DC, Albany and here were busy watching ME and other law abiding American Citizens who are gun owners and taxpayers, in an effort to blame the nation's lack of security on US so that they could have a political scapegoat."
yeah, as if the tax increas on the 'rich' is the source of the revenue! LOL
YUP! In the U.S. today there are two million more people working than a year ago, at slightly higher wages. That translates into more payroll and income taxes. Payroll taxes were raised substantially on January 1, 2013, from 4.2 percent of the first $133,700 to 6.2 percent. And higher taxes on the investment and regular income of very high earners went into effect as well. What’s more, in anticipation of the higher taxes, companies in 2012 shoveled dividends and bonuses out the door in late 2012.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
YUP! In the U.S. today there are two million more people working than a year ago, at slightly higher wages. That translates into more payroll and income taxes. Payroll taxes were raised substantially on January 1, 2013, from 4.2 percent of the first $133,700 to 6.2 percent. And higher taxes on the investment and regular income of very high earners went into effect as well. What’s more, in anticipation of the higher taxes, companies in 2012 shoveled dividends and bonuses out the door in late 2012.
hourly? yearly? weekly? overtime? cost of living going up....what's the value other than shitting out more $$ of government/corporate/personal welfare...
no straw for the bricks.....show me the virtual value of our hamster cage....
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
House Minority Leader Nancy Pelosi on Monday night said Obamacare has been "largely responsible" for reducing the deficit and bringing down the cost of health care.
"Many of the initiatives that he passed are what are coming to bear now -- including the Affordable Care Act," she told MSNBC's Chris Hayes. "The Affordable Care Act is bringing the cost of health care in our country down in both the public and private sector, and that is what is largely responsible for the deficit coming down."
"We all care about frugality. We don't want to spend any money we don't have to. But we do want to invest in the education of our children, the safety of our neighborhoods and the rest. And even if you don't, you have to remember that teachers and firefighters and police officers are consumers."
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
one of the biggest whitewashings next to SS and welfare.....
just a different paintbrush.....the government doesn't purchase a hammer on sale....your healthcare will put a price on your head according to your age/co-morbidities/choices/compliance/job risks etc.....think not otherwise,,,it's already happening....
AS YOU AGE...YOU WILL BE DISCOUNTED UP TO 75% OFF.....the taxpayers will demand it....and we will argue about the worth of our neighbors....just what the government/UN are laying rails for....the freight train that will be sent down those tracks will KILL us....
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
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