Drudge: BIGGEST GOVERNMENT EVER: Treasury revenue, spending at record highs in April

[FrankRep]

US has April surplus but budget strained

REUTERS
May 13, 2008


The US government posted a $US159.3 billion ($A169.52 billion) surplus in April, helped by the mid-month deadline for individuals meeting 2007 tax obligations, but it was down from the prior year's surplus, the Treasury Department reported on Monday.

In April 2007, the surplus was $US177.7 billion ($A189.1 billion).

In the first seven months of fiscal 2008, which ends on September 30, the government's budget deficit swelled by 88.4 per cent to $US152.2 billion ($A161.97 billion), from $US80.8 billion ($A85.98 billion) in the first seven months of fiscal 2007.

The latest figures point to growing strain on the budget, which is poised to face a deeper deficit as payments under an economic stimulus program agreed by Congress and the Bush administration get into full swing.

The Congressional Budget Office forecast in March that the fiscal 2008 deficit likely will hit $US396 billion ($A421.41 billion). Defence spending keeps climbing as the administration seeks more funds for wars in Iraq and Afghanistan.

In the first seven months of fiscal 2008, Defence Department spending rose by about $US34 billion ($A36.18 billion) from the comparable period in fiscal 2007 to $US341.1 billion ($A362.99 billion).

In April alone, receipts primarily from taxes totalled a record $US403.8 billion ($A429.71 billion), up from $US383.6 billion ($A408.22 billion) in April 2007.

But outlays also set a record at $US244.5 billion ($A260.19 billion), compared with $US205.9 billion ($A219.11 billion) in April last year. Outlays are due to swell in coming months as tax rebates of up to $US600 ($A638.50) for individuals and $US1,200 ($A1,277) for married couples that are part of the administration's economic stimulus plan start flowing in earnest.

The program, intended to give the flagging economy a boost, got started at the end of April and the Treasury Department said that $US3.4 billion ($A3.62 billion) had been issued. The stimulus package is suppose to pump about $US152 billion ($A161.75 billion) into consumers' hands to try to keep the consumption-driven economy from stalling.


SOURCE:
http://au.biz.yahoo.com/080512/2/1qlzn.html

[RideTheDirt]

The stimulus package is suppose to pump about $US152 billion ($A161.75 billion) into consumers' hands to try to keep the consumption-driven economy from stalling.

sounds kinda like they're trying to stop an aircraft carrier with a dingy...

[Aratus]

how can we afford another front in our global war on terrorism without going to the house and senate in terms of financing? we cannot have both "guns' and "butter"... this is the LBJ era equation that tore apart the johnson administration... and its tearing at our politics right now

[jclay2]

Well, for the year we are allready at a defecit of 300 billion. With stimulus package and recession, I wouldn't doubt if we have our first 500 billion dollar defecit.

[IPSecure]

Need to look at the 'Comprehensive Financial Reports'!

The 'Budget' is nonsense...

Look at California in 2007!

http://www.sco.ca.gov/ard/cafr/cafr07.pdf

http://www.sco.ca.gov/pubs/


Comprehensive Annual Financial Report - CAFR Government's true wealth shown, by Walter Burien:

http://www.cafr1.com


Walter Burien on the Jeff Rense show:

http://www.cafr1.com/Audio/05-30-07.MP3

[Conza88]

Does anyone notice the correlation, between an increase in government and an increase in suffering?.... its pretty hard to miss.

[Truth Warrior]

DAMN!!!! How does that happen? Oh yeah, the "law factory", I forgot.