And people were paying their taxes on the previous tax structure. Next year they will be paying their bills on the current tax plan. What do you predicted for next April’s surplus. I predict it won’t be the biggest ever.
That tends to happen as the economy continues to chug along. I paid the most federal taxes I have ever paid. Like every year before that. Because I get a raise and even larger bonus each year.
Again, the point is that this isn’t that big of a deal. We’re going to be running massive deficits for the year. In a time that the economy is strong. That’s ridiculous.
US budget surplus/deficit by month in fiscal 2018
october -63B
november -138B
december -23B
january +49B
february -215b
march -208B
april +214B
total so far for fiscal 2018 is -385B
by comparison in fiscal 2017 thru april we were at -344B
note:
we usally run a budget surplus in january,april june and september as those are the 4 months that tax payments are due of you file estimated taxes
I’ve said repeatedly, it just doesn’t matter. A baseball game is not won in one inning. Are you refuting that even taking into account Biggest Surplus Ever, we are still $40 B more in the hole than we were at this time last year? The boulder is still rolling down the hill.
Revenues are up $83 billion this fiscal year, including record revenues for April. Congratulations!!!
Spending is up $121 billion this fiscal year, including spending for April. Congratulations!!!
Increased deficit spending of $38 billion this fiscal year, including April. Congratulations!!!
Fiscal year budget deficit on track for $833 billion, the highest since 2012, and almost doubled since 2015. Congratulations!!!
Like I said, and you quoted, basic economics. If your income increases, but your spending increases by a magnitude more, you still come out behind. Revenues mean nothing when not taken in context with spending. If you want your glass to be half full by ignoring spending and the budget deficit, more power to you. I’ll take a complete approach and I will be pessimistic about our current economic state.