January 12, 2005

President Clinton on TV -- Now There's a Surplus

Shhh. I don't want anybody to know, but "The U.S. government ran a $1 billion budget surplus in December, helped by a rise in corporate tax payments."

I'm sure you probably read this on Page One of the New York Times this morning, or heard it on NPR, but for everybody else, we're keeping it quiet.

WASHINGTON, Jan 7 (Reuters) - The U.S. government ran a $1 billion budget surplus in December, helped by a rise in corporate tax payments, the Congressional Budget Office said in its latest budget report released on Friday. The surplus, which compared with an $18 billion deficit in the previous December, helped create a smaller fiscal deficit for the first three months of the 2005 fiscal year, than in the same quarter of the prior year. "In December, most corporations make their fourth quarterly payment of income taxes," the CBO said, adding that corporate tax refunds were lower than in the previous December. Congress' nonpartisan fiscal watchdog said the 2005 shortfall now stands at $114 billion, about $16 billion less than for the same period last year. The 2005 fiscal year began on Oct. 1.
I did see President Clinton on TV the other day -- it's probably his doing.

Hat-tip: Gay Patriot

Posted by jk at January 12, 2005 01:30 PM
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