Budget Deficit Increases 156% As Expenditures Soar, Revenue Shrinks

[2012Bearcat]

Budget Deficit Increases 156 Percent as Expenditures Soar, Revenues Shrink

www.theepochtimes.com

The latest monthly Treasury statement (pdf), released on July 13, shows that the government posted a $228 billion budget deficit in June, up sharply compared to a budget gap of $89 billion in the same month last year.


The Treasury statement shows that June expenditures rose $96 billion, or 18 percent from a year ago, to $646 billion.

Income from taxes in June fell $42 billion, or 9 percent, to $418 billion.

Calendar adjustments were partly to blame for the big jump in the deficit in large measure because July 1 fell on a weekend. Without this, as well as other calendar adjustments, the June deficit would have been $142 billion, a more modest but still significant 66 percent increase over June 2022 levels.


If Bidenomics is working as well as they say, why is tax revenue down almost 10%?

 

[Ponca Dan]

Budget Deficit Increases 156 Percent as Expenditures Soar, Revenues Shrink

www.theepochtimes.com

The latest monthly Treasury statement (pdf), released on July 13, shows that the government posted a $228 billion budget deficit in June, up sharply compared to a budget gap of $89 billion in the same month last year.


The Treasury statement shows that June expenditures rose $96 billion, or 18 percent from a year ago, to $646 billion.

Income from taxes in June fell $42 billion, or 9 percent, to $418 billion.

Calendar adjustments were partly to blame for the big jump in the deficit in large measure because July 1 fell on a weekend. Without this, as well as other calendar adjustments, the June deficit would have been $142 billion, a more modest but still significant 66 percent increase over June 2022 levels.


If Bidenomics is working as well as they say, why is tax revenue down almost 10%?

The person on this board to answer your question is our friend, @07pilt. Pilt, get over here and explain how MMT is working and all Bidenomics needs to do is print more dollars. That will solve the problem, will it not? Or am I being too triggered and there's really not a problem to concern myself with.

 

[aix_xpert]

nm

 

[Sunburnt Indian]

Budget Deficit Increases 156 Percent as Expenditures Soar, Revenues Shrink

www.theepochtimes.com

The latest monthly Treasury statement (pdf), released on July 13, shows that the government posted a $228 billion budget deficit in June, up sharply compared to a budget gap of $89 billion in the same month last year.


The Treasury statement shows that June expenditures rose $96 billion, or 18 percent from a year ago, to $646 billion.

Income from taxes in June fell $42 billion, or 9 percent, to $418 billion.

Calendar adjustments were partly to blame for the big jump in the deficit in large measure because July 1 fell on a weekend. Without this, as well as other calendar adjustments, the June deficit would have been $142 billion, a more modest but still significant 66 percent increase over June 2022 levels.


If Bidenomics is working as well as they say, why is tax revenue down almost 10%?

You can define math's simplest equation. The board's slow 13 cannot.

 

[07pilt]

The person on this board to answer your question is our friend, @07pilt. Pilt, get over here and explain how MMT is working and all Bidenomics needs to do is print more dollars. That will solve the problem, will it not? Or am I being too triggered and there's really not a problem to concern myself with.

The federal government remains financially unconstrained, but I suspect you are being too triggered by this lumpy monthly data.

 

[LAY THE WOODY]

The federal government remains financially unconstrained, but I suspect you are being too triggered by this lumpy monthly data.

Well after all, all sleepy has to do is forgive debt and print more money. 11/5 is right around the corner. Hugging, squeezing and smelling infants ain't helping the fools cause. I'm afraid his clown show is over for the better of the American republic. This shitshow has gone on for too long.

 

[Ponca Dan]

The federal government remains financially unconstrained, but I suspect you are being too triggered by this lumpy monthly data.

Ain’t MMT the best!

 

[2012Bearcat]

The federal government remains financially unconstrained, but I suspect you are being too triggered by this lumpy monthly data.

Interest on the national debt this year will be 1 trillion dollars, in a time with falling tax revenue and spending already running well over a trillion dollars in the red. Where does the government get the money to pay the interest along with all their other obligation? Money machine go brrrr? The hilarious part of it all is when the left says they are not responsible for inflation. SMFH

 

[07pilt]

Interest on the national debt this year will be 1 trillion dollars, in a time with falling tax revenue and spending already running well over a trillion dollars in the red. Where does the government get the money to pay the interest along with all their other obligation? Money machine go brrrr? The hilarious part of it all is when the left says they are not responsible for inflation. SMFH

1. I'll do a ban bet that tax revenue for calendar year 2023 exceeds that of 2022.
2. Debt to GDP is declining so even using traditional models the deficit is sustainable
3. The money printer always has gone brrr since the fed began targeting overnight interest rates this is not a new phenomenon.
4. Deficit spending creates the demand for Treasury bonds. The federal government will continue issuing bonds equal the difference between outlays and revenue and the market will continue buying them (check the yield on 10yrs vs bills). No extraordinary measures required.

 

[07pilt]

Ain’t MMT the best!

I love reality

 

[Ponca Dan]

I love reality

I love your loyalty, Pilt, you’ll go down with the sunken MMT ship. That’s impressive!

 

[07pilt]

I love your loyalty, Pilt, you’ll go down with the sunken MMT ship. That’s impressive!

Huh?

Sunken ships:
Quantity theory of money.
Monetarism.
Expansionary austerity.
Debt doomers.
Hyperinflationistas.
Gold bugs.

Ships very much still floating and empirically bolstered by 2007-2023:
MMT

 

[Ponca Dan]

Huh?

Sunken ships:
Quantity theory of money.
Monetarism.
Expansionary austerity.
Debt doomers.
Hyperinflationistas.
Gold bugs.

Ships very much still floating and empirically bolstered by 2007-2023:
MMT

I’m sure MMT will last as long as the country.

 

[Medic007]

I’m sure MMT will last as long as the country.

Dan, I've asked before...

How do you think new dollars enter the economy? We didn't have trillions of dollars in the world economy in 1930.