Taking us to lunch? United States runs $114 billion surplus in April
By Catholic Online (NEWS CONSORTIUM)
5/8/2014 (3 years ago)
Catholic Online (www.catholic.org)
The United States Treasury took in $114 billion more than it had to pay out in April, according to the Congressional Budget Office. The influx of cash is being credited to lower overall spending and higher tax receipts.
This is what people usually think of when they think of "Uncle Sam surplus." Not in this case.
LOS ANGELES, CA (Catholic Online) - The month of April usually brings an influx of receipts as Americans file their tax returns. Since October 1, or the first seven months of this fiscal year, the office 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 seven percent increase in individual income taxes and payroll taxes, a 15 percent increase in corporate income taxes, and a 37 percent increase in money paid to Treasury by the Federal Reserve.
Overall spending fell by 2 percent. Areas that witnessed the biggest drops included unemployment benefits and homeland security, which were both down 31 percent, agriculture, which was down 12 percent and defense spending, which was down by five percent.
Much of the drop in overall spending is attributable to bigger payments from Fannie Mae and Freddie Mac to Treasury. According to the weird accounting rules of the federal budget, those payments are counted as "negative" spending.
Offsetting the spending decline were increases in Social Security, which was up five percent and Medicaid, which was up by nine percent.
The trend in higher tax receipts and lower overall spending has been in effect for some time now, because of the economic recovery and spending restraint enacted by Congress.
Last month, the CBO projected that the 2014 shortfall would decline to 2.8 percent of gross domestic product or $492 billion. That is well below the 4.1 percent, or $680 billion, recorded for fiscal year 2013. To top of page
Copyright 2017 - Distributed by THE CALIFORNIA NETWORK
Pope Francis Prayer Intentions for OCTOBER 2017
Workers and the Unemployed. That all workers may receive respect and protection of their rights, and that the unemployed may receive the opportunity to contribute to the common good.
Evil George Soros transfers $18 billion to support abortion, destroy marriage, and tell you how to live Watch
Billionaire George Soros has transferred $18 billion of his personal wealth to his Open Society Foundations, which grant money to liberal ... continue reading
A network of wealthy donors is funding a series of well-organized lobbying campaigns to restrict legal protections for religious freedom, ... continue reading
CORRUPT TO THE CORE: The REAL Russian scandal - Turns out Clintons took MILLION from the Russians to sell 20 percent of U.S. uranium supply to Russia Watch
The Clintons took money from the Russians, and then sold twenty percent of the American uranium supply to Vladimir Putin, in 2010. The deal ... continue reading
Texas joins Article V movement! Learn more about the movement that could bring Congress back under the control of the voters Watch
Texas has joined the Convention of States, adding one more to the total of 34 states needed to change the Constitution without interference ... continue reading
The chair of the U.S. bishops' Committee on Religious Liberty says that expanded religious liberty protections in the federal contraception ... continue reading
by Catholic Online
- St. Anthony Mary Claret: Saint of the Day for Tuesday, October 24, 2017
- Skeptic explores demonic possession, admits it can be 'very real' HD ...
- Skeptic filmmaker explores demonic possession, admits it can be 'very ...
- Daily Readings for Tuesday, October 24, 2017
- Pope Francis speaks about putting God first and reality
- Are you called to be a missionary? The answer is YES YOU ARE!
- Day 2 - Novena to the Saints in Heaven for the saints on earth HD Video
- Day 1 - Novena to the Saints in Heaven for the saints on earth HD
- Evil money - George Soros pays to start a revolution in America HD
- Daily Reading for Tuesday, October 24th, 2017 HD
- Daily Reading for Wednesday, October 25th, 2017 HD
Learn about Catholic world
Inform - Inspire - Ignite
Catholic Online Saints
Your saints explained
Catholic Online Prayers
Prayers for every need
Catholic Online Bible
Complete bible online
Catholic Online News
Your news Catholic eye
Today's bible reading
Products and services we offer
Catholic Online Shopping
Catholic medals, gifts & books
The California Network
Inspiring streaming service
Learn the Catholic way