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US government posts budget surplus for January 2013
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1 US government posts budget surplus for January 2013 2/12/2013, 5:15 pm
boards of FL
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2 Re: US government posts budget surplus for January 2013 2/12/2013, 7:26 pm
Margin Call
boards of FL wrote:http://online.wsj.com/article/SB10001424127887324196204578300252356749428.html
...and it only took nearly $140billion in additional debt.
3 Re: US government posts budget surplus for January 2013 2/12/2013, 7:47 pm
othershoe1030
Margin Call wrote:boards of FL wrote:http://online.wsj.com/article/SB10001424127887324196204578300252356749428.html
...and it only took nearly $140billion in additional debt.
How does that work? You mean we borrowed more than we needed? I don't get it.
4 Re: US government posts budget surplus for January 2013 2/12/2013, 8:33 pm
Margin Call
othershoe1030 wrote:Margin Call wrote:boards of FL wrote:http://online.wsj.com/article/SB10001424127887324196204578300252356749428.html
...and it only took nearly $140billion in additional debt.
How does that work? You mean we borrowed more than we needed? I don't get it.
No. The extraordinary measures that Treasury took to stay below the statutory debt ceiling were unwound in the beginning of February.
5 Re: US government posts budget surplus for January 2013 2/12/2013, 9:00 pm
othershoe1030
Margin Call wrote:othershoe1030 wrote:Margin Call wrote:boards of FL wrote:http://online.wsj.com/article/SB10001424127887324196204578300252356749428.html
...and it only took nearly $140billion in additional debt.
How does that work? You mean we borrowed more than we needed? I don't get it.
No. The extraordinary measures that Treasury took to stay below the statutory debt ceiling were unwound in the beginning of February.
Thanks, someone will understand that I'm sure! LOL. Econ-speak! I hope this was a good thing. An economist I am definitely not!
6 Re: US government posts budget surplus for January 2013 2/12/2013, 9:04 pm
Margin Call
othershoe1030 wrote:Margin Call wrote:othershoe1030 wrote:Margin Call wrote:boards of FL wrote:http://online.wsj.com/article/SB10001424127887324196204578300252356749428.html
...and it only took nearly $140billion in additional debt.
How does that work? You mean we borrowed more than we needed? I don't get it.
No. The extraordinary measures that Treasury took to stay below the statutory debt ceiling were unwound in the beginning of February.
Thanks, someone will understand that I'm sure! LOL. Econ-speak! I hope this was a good thing. An economist I am definitely not!
Homework assignment: Learn the definitions of on-budget, off-budget and unified budget. It should make more sense.
7 Re: US government posts budget surplus for January 2013 2/12/2013, 9:20 pm
Guest
Guest
meh... the cool club doesn't do homework. Only the few and relegated irrelevant care about the real bottom line.
8 Re: US government posts budget surplus for January 2013 2/12/2013, 9:24 pm
Margin Call
PkrBum wrote:meh... the cool club doesn't do homework. Only the few and relegated irrelevant care about the real bottom line.
On-budget ran a surplus. Bottom line: debt continues to accumulate.
9 Re: US government posts budget surplus for January 2013 2/12/2013, 9:25 pm
Hospital Bob
Well a "budget surplus" to me means you're claiming you take in more money than you have going out.
And "off-budget" to me means you don't count part of what you're spending when you claim to have a "budget surplus".
Which makes the claim that you have a budget surplus just a load of bullshit.
Am I getting warm?
And "off-budget" to me means you don't count part of what you're spending when you claim to have a "budget surplus".
Which makes the claim that you have a budget surplus just a load of bullshit.
Am I getting warm?
Last edited by Bob on 2/12/2013, 9:41 pm; edited 1 time in total
10 Re: US government posts budget surplus for January 2013 2/12/2013, 9:28 pm
othershoe1030
Margin Call wrote:othershoe1030 wrote:Margin Call wrote:othershoe1030 wrote:Margin Call wrote:boards of FL wrote:http://online.wsj.com/article/SB10001424127887324196204578300252356749428.html
...and it only took nearly $140billion in additional debt.
How does that work? You mean we borrowed more than we needed? I don't get it.
No. The extraordinary measures that Treasury took to stay below the statutory debt ceiling were unwound in the beginning of February.
Thanks, someone will understand that I'm sure! LOL. Econ-speak! I hope this was a good thing. An economist I am definitely not!
Homework assignment: Learn the definitions of on-budget, off-budget and unified budget. It should make more sense.
How's this?
Unified Budget
In government accounting, a general term for on-budget and off-budget items. Off-budget items include dedicated spending paid with specially levied taxes. For example, Social Security is an off-budget item because FICA taxes exclusively pay for it. On-budget items include all other mandatory and discretionary spending. Most discussion of the federal budget in the United States refers to the unified budget, unless otherwise stated.
http://financial-dictionary.thefreedictionary.com/Unified+budget
11 Re: US government posts budget surplus for January 2013 2/12/2013, 9:28 pm
Margin Call
Bob wrote:Well a "budget surplus" to me means you're claiming you take in more money than you have going out.
And "off-budget" to me means you don't count part of what you're spending when you claim to have a "budget surplus".
Which makes the claim that you have a budget surplus just a load of bullshit.
And I getting warm?
Be honest....you're a government accountant?
12 Re: US government posts budget surplus for January 2013 2/12/2013, 9:30 pm
Hospital Bob
It's just another example of what we could call "government arithmetic".
Not much different than when someone has been out of work so long that he/she has finally just given up on finding employment.
The same "government arithmetic" doesn't count him when it's telling us how many people are unemployed.
Not much different than when someone has been out of work so long that he/she has finally just given up on finding employment.
The same "government arithmetic" doesn't count him when it's telling us how many people are unemployed.
13 Re: US government posts budget surplus for January 2013 2/12/2013, 9:37 pm
Hospital Bob
Margin Call wrote:
Be honest....you're a government accountant?
Actually the first encounter I ever had with this same sort of arithmetic was not government in nature. It was back when I was peddling slot machines for a living. Most all of my customers were regular visitors to casinos.
And whenever I asked them "did you win?", the response I always got was "yes, I hit a $100 jackpot".
But the part they never seemed to want to tell me was they put $150 into the slot machine to come home with the $100 jackpot. For them, that part was "off-budget" when they were calculating their "winnings". lol
14 Re: US government posts budget surplus for January 2013 2/12/2013, 9:39 pm
Margin Call
Bob wrote:It's just another example of what we could call "government arithmetic".
Not much different than when someone has been out of work so long that he/she has finally just given up on finding employment.
The same "government arithmetic" doesn't count him when it's telling us how many people are unemployed.
It's really a failure of the media and a general detachment from most people when it comes to digging beneath the headlines.
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