April was best month in history for U.S. budget, according to CBO figures — By Stephen Dinan – The Washington Times
“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.
CBO analysts were surprised by the surplus, which was some $40 billion more than they’d guessed at less than a month ago.
Analysts said they’ll have a better idea of what’s behind the surge as more information rolls in, but for now said it looks like individual taxpayers are paying more because they have higher incomes.
“Those payments were mostly related to economic activity in 2017 and may reflect stronger-than-expected income growth in that year,” the analysts said in their monthly budget review. “Part of the strength in receipts also may reflect larger-than-anticipated payments for economic activity in 2018. The reasons for the added revenues will be better understood as more detailed information becomes available later this year.”
Official numbers are due out from the Treasury Department in a few days, but the CBO is usually accurate to within a couple billion dollars.
April is always a strong month for government finances, with taxpayers filing their returns for the previous year and settling up what they owe, even as expenditures often dip for the month.
But this year was particularly strong, with receipts jumping 13 percent compared to a year ago.”
No matter how any side spins this, i’s excellent news for working Americans.
The more money they have to spend to pay down their debt as well as keeping current with their expenditures, is a very good thing!
It shouldn’t matter who one voted for at this point, people should be rooting for this country and not any one particular person.
The slogan followers will no doubt be upset, as it puts a blanket over their UBI, [universal basic income] or giving all working Americans a $15 hr job with the government. That is definitely like living in a despots country, not America.
Who would get all the surplus, where would it go? We have a hard time keeping up with the waste, fraud and abuse currently with over $500 Billion a year going …PUFF!
America is the land of IDEAS, giving everyone a shot at their dreams. One doesn’t have to be born with a silver spoon stuck in their mouth to achieve a better life. That’s an excuse not an action!
***Always pay yourself first with every paycheck! You’ll be surprised how quickly it adds up!