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Biggest surplus in history

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79eer

Junior
Oct 4, 2008
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The federal government took in a record tax haul in April en route to its biggest-ever monthly budget surplus, the Congressional Budget Office said, as a surging economy left Americans with more money in their paychecks — and this more to pay to Uncle Sam.

All told the government collected $515 billion and spent $297 billion, for a total monthly surplus of $218 billion. That “SWAMPED” the previous monthly record of $190 billion, set in 2001.
 
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7

79eer

Junior
Oct 4, 2008
8,542
391
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wvu2007 said:
THAT'S NOT POSSIBLE WHEN YOU CUT TAXES!
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Been hearing that since Kennedy cut taxes in 60’s, does not fit well with the left agenda of giving more to the most wasteful organization ever created by mankind.
 
W

WVUCOOPER

Redshirt
Dec 10, 2002
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79eer said:
The federal government took in a record tax haul in April en route to its biggest-ever monthly budget surplus, the Congressional Budget Office said, as a surging economy left Americans with more money in their paychecks — and this more to pay to Uncle Sam.

All told the government collected $515 billion and spent $297 billion, for a total monthly surplus of $218 billion. That “SWAMPED” the previous monthly record of $190 billion, set in 2001.
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lol. The debt is still growing. We are still spending more than we are taking in. Hooray for one month, don't look at the others!!
 
dave

dave

Senior
May 29, 2001
60,598
814
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WVUCOOPER said:
lol. The debt is still growing. We are still spending more than we are taking in. Hooray for one month, don't look at the others!!
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Ypu aee right. We should never hope for a surplus of any kind.
 
W

WVUCOOPER

Redshirt
Dec 10, 2002
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dave said:
Ypu aee right. We should never hope for a surplus of any kind.
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It's like reading my 5yo niece text me...what? We get a 1 month surplus almost every year due to timing.

"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. Revenues and outlays were higher, by 4 percent and 5 percent, respectively, than they were during the first seven months of fiscal year 2017."

As I said, the debt is still exploding.
 
W

wvu2007

Senior
Jan 2, 2013
21,220
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79eer said:
Who said you weren’t the brightest of the bunch ?
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You just have to love Coop being Coop and interjecting himself into the thread to show off his intellectual superiority. We should all be lucky to have such an intelligent being on this board that we can learn from. The guy is NEVER wrong.
 
W

WVUCOOPER

Redshirt
Dec 10, 2002
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79eer said:
May have missed the point, .......... no one said it’s fixed, simply the largest one month SURPLUS IN 17 years. Nothing more nothing less.
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I'm just mocking picking one data point out to spotlight. Nothing more, nothing less.

"As was the case last year, this year’s outlays were affected by shifts in the timing of certain payments that otherwise would have been due on a weekend. If not for those shifts, outlays and the deficit through April would have been larger, by roughly $40 billion, both this year and last year—but the year-to-year changes would not have been very different."
 
Airport

Airport

All-American
Dec 12, 2001
86,255
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WVUCOOPER said:
It's like reading my 5yo niece text me...what? We get a 1 month surplus almost every year due to timing.

"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. Revenues and outlays were higher, by 4 percent and 5 percent, respectively, than they were during the first seven months of fiscal year 2017."

As I said, the debt is still exploding. It's growing exponentially. Unless smart people start raising the retirement age, cutting benefits to some of the other parts of federal programs, we will run out of money.
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W

wvu2007

Senior
Jan 2, 2013
21,220
457
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WVUCOOPER said:
I'm just mocking picking one data point out to spotlight. Nothing more, nothing less.

"As was the case last year, this year’s outlays were affected by shifts in the timing of certain payments that otherwise would have been due on a weekend. If not for those shifts, outlays and the deficit through April would have been larger, by roughly $40 billion, both this year and last year—but the year-to-year changes would not have been very different."
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No, what you are doing is trying to put words into 79's mouth and twisting his post. You just have to act like you are smarter than anyone else even if you have to create an argument that isn't even there. #LowSefEsteem
 
DvlDog4WVU

DvlDog4WVU

All-Conference
Feb 2, 2008
47,209
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WVUCOOPER said:
It's like reading my 5yo niece text me...what? We get a 1 month surplus almost every year due to timing.

"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. Revenues and outlays were higher, by 4 percent and 5 percent, respectively, than they were during the first seven months of fiscal year 2017."

As I said, the debt is still exploding.
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Then stop spending the fvcking money.
 
7

79eer

Junior
Oct 4, 2008
8,542
391
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WVUCOOPER said:
I'm just mocking picking one data point out to spotlight. Nothing more, nothing less.

"As was the case last year, this year’s outlays were affected by shifts in the timing of certain payments that otherwise would have been due on a weekend. If not for those shifts, outlays and the deficit through April would have been larger, by roughly $40 billion, both this year and last year—but the year-to-year changes would not have been very different."
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Understand Coop, still the point is ..... RECORD TAX HAUL IN ONE MONTH, largest in 17 YEARS. ..... the surplus is secondary and can vary according to timing of payments.
 
W

WVUCOOPER

Redshirt
Dec 10, 2002
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79eer said:
Understand Coop, still the point is ..... RECORD TAX HAUL IN ONE MONTH, largest in 17 YEARS. ..... the surplus is secondary and can vary according to timing of payments.
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As long as there isn't a housing crash or some other recessionary period...we should have record tax inflows every April. I'll grant you that.
 
atlkvb

atlkvb

All-American
Jul 9, 2004
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WVUCOOPER said:
lol. The debt is still growing. We are still spending more than we are taking in. Hooray for one month, don't look at the others!!
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As a fiscal Conservative, surely you will join Trump's efforts at eliminating or reducing needless spending programs during the next budget cycle? We obviously don't have a revenue problem, we have a spending problem. As a Conservative, you surely agree with this right Coop?
 
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WVUCOOPER

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Dec 10, 2002
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atlkvb said:
As a fiscal Conservative, surely you will join Trump's efforts at eliminating or reducing needless spending programs during the next budget cycle? We obviously don't have a revenue problem, we have a spending problem. As a Conservative, you surely agree with this right Coop?
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I agree we need to cut spending. Always have. Liberal Trump does not.
 
B

bamaEER

Freshman
May 29, 2001
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atlkvb said:
As a fiscal Conservative, surely you will join Trump's efforts at eliminating or reducing needless spending programs during the next budget cycle? We obviously don't have a revenue problem, we have a spending problem. As a Conservative, you surely agree with this right Coop?
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You do realize Coop is a staunch fiscal conservative, right?
 
atlkvb

atlkvb

All-American
Jul 9, 2004
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WVUCOOPER said:
I agree we need to cut spending. Always have. Liberal Trump does not.
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He will let us know how serious he is about deficit spending when he submits his next budget. This last go round with those spendthrifts in Congress was a flawed process. His next budget will have both increased revenues, and a strong economy behind it. Let's see if he's "all hat and no cattle" on wrestling this monster called Leviathan?
 
W

WVUCOOPER

Redshirt
Dec 10, 2002
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atlkvb said:
He will let us know how serious he is about deficit spending when he submits his next budget. This last go round with those spendthrifts in Congress was a flawed process. His next budget will have both increased revenues, and a strong economy behind it. Let's see if he's "all hat and no cattle" on wrestling this monster called Leviathan?
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lol. Ok man.
 
7

79eer

Junior
Oct 4, 2008
8,542
391
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WVUCOOPER said:
As long as there isn't a housing crash or some other recessionary period...we should have record tax inflows every April. I'll grant you that.
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Why was this one the largest in 17 years, ... (Revenues) ??
 
S

Shirley Knott

Redshirt
May 26, 2017
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79eer said:
The federal government took in a record tax haul in April en route to its biggest-ever monthly budget surplus, the Congressional Budget Office said, as a surging economy left Americans with more money in their paychecks — and this more to pay to Uncle Sam.

All told the government collected $515 billion and spent $297 billion, for a total monthly surplus of $218 billion. That “SWAMPED” the previous monthly record of $190 billion, set in 2001.
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I suppose the left is correct. When you have the largest ever surplus only 6 months after installing tax cuts, the economy will probably recede from here. Thanks Obama...
 
W

WVUCOOPER

Redshirt
Dec 10, 2002
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79eer said:
Absolutely, nothing whatsoever to do with the tax cuts.
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Probably some, but the majority of the tax cuts will be felt going forward. I suspect, barring some kind of unexpected economic disaster, we will see another record revenue haul next April.
 
L

lenny4wvu

Redshirt
May 17, 2009
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wvu2007 said:
You just have to love Coop being Coop and interjecting himself into the thread to show off his intellectual superiority. We should all be lucky to have such an intelligent being on this board that we can learn from. The guy is NEVER wrong.
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The "gift" that keeps on giving...love it!
 
M

mneilmont

Sophomore
Jan 23, 2008
20,883
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Boomerwv said:
You understand that April taxes were using the 2017 code?
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Did that really have anything to do with the big jump in receipts? Mick Mul said they swept prior period funds that had appropriations earlier, but no further charges to apply to those funds. Rather than have appropriated funds sit in an idle account, they will periodically sweep all of that money. Not an unusual source of available money. Coop, it is not unlike our JE into prior years for substantial amounts. But this is governmental accounting on cash basis.
 
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