When Is A $114B Surplus A Bad Thing?

Why, when it was achieved by cutting much-need public services!
When Is A $114B Surplus A Bad Thing?

What's done is done, but Obama should never have gone along with draconian GOP budget cuts. Not when we have this many desperate people out of work, scraping just to get by. We've shredded the safety net, and it's a disgrace to everyone involved:

The U.S. Treasury Department booked a $114 billion surplus in April, the largest for that month since 2008, according to the latest estimates from the Congressional Budget Office released Wednesday.

For the first seven months of this fiscal year, which began on Oct. 1, the CBO estimates the country has racked up a $301 billion deficit, which is $187 billion lower than it was for the same period last year.

Federal coffers saw a 7% increase in individual income taxes and payroll taxes, a 15% increase in corporate income taxes, and a 37% increase in money paid to Treasury by the Federal Reserve.

Last month, the CBO projected that the 2014 shortfall would decline to 2.8% of gross domestic product -- or $492 billion. That is well below the 4.1% -- or $680 billion -- recorded for fiscal year 2013.


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