Surprise! Huge US Budget Surplus Shatters Record

[cyclonescott]

The U.S. government posted a budget surplus in June, the latest sign of rapidly improving public finances that could reduce the urgency in Congress to strike a deal to raise the nation's limit on borrowing.

Rising tax revenues, public spending cuts and big payments to the Treasury from state-backed mortgage firms helped the government take in $117 billion more last month than it paid out, the U.S. Treasury said on Thursday.

http://www.cnbc.com/id/100880536?__source=xfinity|mod&par=xfinity

Did I miss something? I thought that they had failed to even pass a budget. Also how can it be a surplus when you have to borrow 40 cents of every dollar we spend.

[Forever_frost]

There's no surplus. If you have bills totaling 155 a month and one month your water bill was a bit lower so you only had to shell out (after charging up your credit card again) 152 but you still carry over the debt from every other month and you still used your card, they call it a surplus

[cyclonescott]

There's no surplus. If you have bills totaling 155 a month and one month your water bill was a bit lower so you only had to shell out (after charging up your credit card again) 152 but you still carry over the debt from every other month and you still used your card, they call it a surplus

Did hell freeze over? Frost we agree.

[line-em-up]

Did hell freeze over? Frost we agree.

In his case, it frosted over.

[helosailor]

Well, if cnbc says everything is hunky-dorry, then it must be.

[cyclonescott]

It is the same story that is on fox news. Most of these so called news organizations just regurgitate stories from the AP.

[DON SVO]

The big bad sequester.

[BP]

So now we'll see the Blue Angels at air shows?

[talisman]

I thought we didn't even have a budget.

[95ragtop]

1/2 that money came from the dividends that Fannie Mae paid.