More Baloney (Deficits) in [Market-Ticker]

Posted 2012-05-08 00:30
by Karl Denninger
in Federal Government

More Baloney (Deficits)

WASHINGTON (MarketWatch) — The U.S. government recorded a budget surplus of $58 billion in April, the Congressional Budget Office estimated on Monday, breaking a streak of deficits that began in 2008.
The surplus — the first of Barack Obama’s presidency — was the result of both increased tax collection and lower government spending. Before April, the government had not run a surplus since September 2008, the month that the financial crisis struck the U.S. economy. Read CBO report.

Except.... the debt to the penny figures record debt-level surplus (all that matters) in June and July 2011 (1.58 billion and 718 million, respectively) along with $32 billion in January of 2010, $17 billion in October of 2009 and $68 billion in January of 2009.

Oh, and $60 billion in April of 2008.

The amusing part of this?

Debt "to the penny" was up $110 billion in April and the deficit "run rate" for the first four months of the year is $1.408 trillion.

Nice try guys.....

Discussion below (registration required to post)

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User Info	More Baloney (Deficits) in forum [Market-Ticker]
Vitchilo Posts: 4615 Incept: 2011-04-27	Like this surplus fixes anything... from corruption, to leverage, to wars, to voting fraud, to CDS, to derivatives, to job being outsourced, to the student debt bubble, to the FED insane policies, to the police state, to the whole credit system, etc... Even if the US ran surplus for the next 2 years it wouldn't matter in the grand scheme of things. Lipstick on a pig with aids with a nuke strapped on it's back... ---------- "Every normal man must be tempted at times to spit upon his hands, hoist the black flag, and begin slitting throats." -- H.L. Mencken Last modified: 2012-05-08 00:45:35 by vitchilo 2012-05-08 00:43:26 Permalink
Etz Posts: 13890 Incept: 2007-06-26 LA	Surplus on Payday! ---------- Legal chicanery and beneficent darkness are the banker's stoutest allies - F.Pecora. 2012-05-08 01:00:21 Permalink
4geez Posts: 101 Incept: 2010-02-10 Florida	How can there be a budget surplus when Congress hasn't submitted a budget? 2012-05-08 07:10:30 From PDA Permalink
Docj Posts: 998 Incept: 2009-09-10 Duck & Cover	Pfft - according to the CBO report most of the "surplus" is one-off accounting magic anyway. Debt to the penny is also up for the month - so much for any "surplus". http://www.zerohedge.com/news/us-posts-f.... ---------- The preservation of liberty depends upon the intellectual and moral character of the people. As long as knowledge and virtue are diffused generally among the body of a nation it is impossible they should be enslaved. - John Adams 2012-05-08 07:31:55 Permalink
Genesis Posts: 130750 Incept: 2007-06-26	Yep. 4/30/2012 10,916,070,898,102.60 4,776,297,169,202.55 15,692,368,067,305.20 110,289,386,116.60 Up $110 billion last month, run rate first four months is $1.408 trillion. ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2012-05-08 08:07:58 Permalink
Zarathustra Posts: 5961 Incept: 2009-04-29 Funkytown	LOL. This should warrant Tickercon 0, IMO.... ---------- "And in knowing that you know nothing, that makes you the smartest of all." - Socrates Last modified: 2012-05-08 08:25:14 by zarathustra 2012-05-08 08:24:18 Permalink
Phxkevin Posts: 353 Incept: 2010-06-25 Phoenix Arizona	Which column does the Federal Reserve holdings fall into? I'm guessing the Debt Held by the Public. (Since the Federal Reserve is a "private bank(s)") ---------- Congress persons are all the same, republican or democrat, conservative or liberal. They talk a good game, but the results (or lack thereof) show something different. 2012-05-08 09:29:59 Permalink
Vernonb Posts: 398 Incept: 2009-06-03 State College, PA	OMG! The lies just keep getting bigger and the 'facts' more incredulous daily! These "American" government hacks have no sense of shame nor honor. I'm been listening to all the terror plot "taken down" crap. You can bet this kind of stuff is going to assail us until election day to present Obama as the New American savior. Obama has turned all the ***e into skittles. ---------- "The welfare of the people in particular has always been the alibi of tyrants, and it provides the further advantage of giving the servants of tyranny a good conscience. -Alber Camus (1913-1960) 2012-05-08 12:21:39 Permalink*
Lowbeyond Posts: 16907 Incept: 2008-02-11 CO aka West NJ/East CA	We are increasing the chocorat from 30 grams to 25 grams per week! ---------- Maybe it was a birdy bread-bomber from the future?! 2012-05-08 12:25:08 Permalink
Widgeon Posts: 13481 Incept: 2007-08-30 Region formerly known as the United States	Well, it is reported as an "Estimated" surplus. That's probably close enough. LOL. 2012-05-08 13:14:52 Permalink
Jstanley01 Posts: 8182 Incept: 2008-07-30 San Antonio, Texas	---------- You can't cheat an honest man. ~P.T. Barnum 2012-05-09 22:17:45 Permalink
Moneyman Posts: 13 Incept: 2011-04-12 Houston Texas	I actually track this...these numbers make more sense if you also include the cash aspect. You may wonder...how could debt increase by $110B in the same month we recorded a surplus of $59B. The answer lies in cash. First, imagine a month when cash inflows = outflows, say $300B. Treasury could issue $100B of debt...increasing debt $100B, and increasing cash $100B The deficit is 0....arguably true, while debt has increased by $100B...aslso true. So back to April. I show $393B in receipts and $334B of spending....which gets us to our 59B surplus. Hooray right?? Cash, increased. They started the month at $43B and ended at $167 for an increase of $124. Now... if you are a sharp accountant...you might assume that delta debt plus deficit/surplus equaled delta cash.....you would be wrong...this is, after all government accounting. That $41B increase in internal debt doesn't get picked up at all....until cash is paid out. Don't think too hard about it....it will hurt and your ears may bleed. So, after such an amazing April, you all will be happy to know that through Wednesday, 5/9, the May deficit currently sits at $62B...more than wiping out Aprils Surplus in a mere 7 business days. DOH!! 2012-05-10 17:02:44 Permalink