US Federal Budget - Record Reduction in Deficit
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Fiscal conservatives rejoice! The US federal budget deficit has shrunk BIGLY and is heading in the right direction.
https://www.politico.com/news/2022/10/21/tax-revenue-spending-budget-deficit-drop-deficit-00062923
The annual budget shortfall totaled $1.37 trillion, compared to $2.77 trillion in the previous fiscal year, the Treasury Department said Friday. That’s due in part to record high tax receipts, which jumped last year thanks to a strong economy that drew more people into the labor market, pushing up the amount the government collected in individual and corporate taxes. Federal spending also declined, as fewer people collected jobless benefits and other pandemic-related programs wound down.
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Federal spending fell by $550 billion, an 8 percent decline from the previous fiscal year ... Tax receipts jumped by a whopping $850 billion to $4.9 trillion, a 21 percent increase from last year. ...Before this, the last time federal spending declined was in 2013.
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Are you pregnant or just half-pregnant?
Seems applicable to a deficit we can't pay. MMT FTW!
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Are you pregnant or just half-pregnant?
Seems applicable to a deficit we can't pay. MMT FTW!
@Jolly said in US Federal Budget - Record Reduction in Deficit:
a deficit we can't pay.
Most rational people and the bond market disagree with you on that one.
You still consider yourself a fiscal conservative? A rational fiscal conservative would usually have no problem acknowledging that a smaller deficit is better than a larger deficit.
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At a certain point, the numbers mean nothing.
“Cry havoc and let slip the DOGE of war!”
Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton
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Take ARP out of the equation and tell me the numbers…
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Take ARP out of the equation and tell me the numbers…
@LuFins-Dad said in US Federal Budget - Record Reduction in Deficit:
Take ARP out of the equation and tell me the numbers…
Spending still would have fallen every year Joe was in office. But the greater drop would have been last year, rather than this.
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@LuFins-Dad said in US Federal Budget - Record Reduction in Deficit:
Take ARP out of the equation and tell me the numbers…
Spending still would have fallen every year Joe was in office. But the greater drop would have been last year, rather than this.
@jon-nyc said in US Federal Budget - Record Reduction in Deficit:
@LuFins-Dad said in US Federal Budget - Record Reduction in Deficit:
Take ARP out of the equation and tell me the numbers…
Spending still would have fallen every year Joe was in office. But the greater drop would have been last year, rather than this.
I’ve honestly not checked, but how does 2021 compare with 2019? And I freely admit that Republicans have not been the fiscal conservatives that they claim they are…
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Fiscal conservatives rejoice! The US federal budget deficit has shrunk BIGLY and is heading in the right direction.
https://www.politico.com/news/2022/10/21/tax-revenue-spending-budget-deficit-drop-deficit-00062923
The annual budget shortfall totaled $1.37 trillion, compared to $2.77 trillion in the previous fiscal year, the Treasury Department said Friday. That’s due in part to record high tax receipts, which jumped last year thanks to a strong economy that drew more people into the labor market, pushing up the amount the government collected in individual and corporate taxes. Federal spending also declined, as fewer people collected jobless benefits and other pandemic-related programs wound down.
...
Federal spending fell by $550 billion, an 8 percent decline from the previous fiscal year ... Tax receipts jumped by a whopping $850 billion to $4.9 trillion, a 21 percent increase from last year. ...Before this, the last time federal spending declined was in 2013.
@Axtremus said in US Federal Budget - Record Reduction in Deficit:
Before this, the last time federal spending declined was in 2013.
Ya, well
https://fiscaldata.treasury.gov/americas-finance-guide/national-deficit/
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And there isn't a whole lot of declining once you add it up
https://fiscaldata.treasury.gov/americas-finance-guide/national-debt/
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@Jolly said in US Federal Budget - Record Reduction in Deficit:
At a certain point, the numbers mean nothing.
So why not increase the deficit? It wouldn’t make any difference, right?
Just like Karl Rove claimed.
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@Jolly said in US Federal Budget - Record Reduction in Deficit:
At a certain point, the numbers mean nothing.
So why not increase the deficit? It wouldn’t make any difference, right?
Just like Karl Rove claimed.
@Doctor-Phibes said in US Federal Budget - Record Reduction in Deficit:
@Jolly said in US Federal Budget - Record Reduction in Deficit:
At a certain point, the numbers mean nothing.
So why not increase the deficit? It wouldn’t make any difference, right?
Just like Karl Rove claimed.
It only hastens our day of reckoning.
