Categories: In The News

Sequestration delivers biggest budget surplus on record refuting dems claims

The Federal government posted the largest budget surplus on record for the month of June thanks to budget cuts and mortgage giants Fannie and Freddie paying back a portion of the bailouts.

June’s federal balance sheet leaned $117 Billion to the positive thanks mainly to the cuts that came from sequestration – a clear win for the Conservatives in Congress who have been pushing for cuts to pigish government spending. A smaller portion, just $59 Billion came from a payback by government-backed mortgage giants Fannie Mae and Freddie Mac.

While news outlets point to an improving economy, which there is little proof of, the spending cuts are the main source of the budget surplus.

While the surplus is looked upon as a great positive, it is far too small to affect the gigantic public debt incurred by decades of over-spending and failure to manage the nation’s finances.

Obamacare will likely deplete such small deficits if it is ever allowed to go into effect.

It is being reported that the surplus will stave off the upcoming debt ceiling battle. While this may come to pass, lunar national parks, a bloated farm bill and other spending are likely to spend future surpluses before they can truly balance the budget.

The wide-breadth spending cuts brought about by sequestration are the main reason for the surplus, but leave it to the media  to mention that as nothing more than a foot note. Here’s the very last sentence of a CNBC article on the subject:

Across-the-board budget cuts began March, which also contributed to the surplus.

Yeah… spending cuts causing a surplus… who’d a thunk it?

Rich Mitchell

Rich Mitchell is the editor-in-chief of Conservative Daily News and the president of Bald Eagle Media, LLC. His posts may contain opinions that are his own and are not necessarily shared by Bald Eagle Media, CDN, staff or .. much of anyone else. Find him on twitter, facebook and GETTR

Share
Published by
Rich Mitchell

Recent Posts

Stacey Abrams’ Nonprofit Shelled Out $20 Million To Close Friend’s Law Firm: Docs

Former Democratic gubernatorial candidate Stacey Abrams’ nonprofit paid more than $20 million to her close…

27 minutes ago

Kash Patel Says FBI Has Recovered Anthony Fauci’s COVID-Era Communications

Federal Bureau of Investigation (FBI) Director Kash Patel said on “The Joe Rogan Experience” Friday…

29 minutes ago

California Democrats Take Another Shot At Subverting Trump’s Immigration Agenda

California Democrats are pushing through legislation that would make it incredibly more difficult for federal…

30 minutes ago

Hawley Breaks With GOP As Senate Backs Bailout For Crypto Investors

Republican Missouri Sen. Josh Hawley broke with his party Thursday to oppose the GENIUS Act,…

34 minutes ago

Republican Tax Cut Bill Will Boost The Labor Market

Job creation and wage growth exceeded expectations again as the U.S. economy and labor market…

44 minutes ago

Trump Admin Greenlights Massive Coal Mining Plan

The Department of the Interior (DOI) approved a plan Friday that will allow for massive…

45 minutes ago