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July 14, 2004
June's Surplus Higher Than ExpectedWASHINGTON, July 13 (Reuters) - The U.S. government posted a larger-than-expected budget surplus in June, propped up by higher quarterly business tax receipts, a government report released on Tuesday showed. In the Treasury Department's monthly budget statement, June income outpaced spending by $19.14 billion, slightly less than the government's June 2003 surplus of $21.23 billion. "What we are seeing is the impact of a good economy, the impact of extraordinarily strong corporate profits, and likely the impact of more people being caught in the alternative minimum tax," Drew Matus, financial markets economist at Lehman Brothers in New York, said in response to the report. "Surprisingly strong receipts are really helping out a great deal here. There is no reason to suspect, given the employment growth we have seen, that this trend will change any time soon," he said. The June result exceeded Wall Street forecasts of a $16.50 billion surplus, as well as a $16 billion surplus projection from the nonpartisan Congressional Budget Office. ... Corporate income tax inflows grew 38 percent in June, when quarterly tax statements are normally filed, compared to June 2003. Individual tax receipts were nearly 9 percent higher. Just in case anyone is confused, this doesn't mean that we're actually in surplus for the year. Some months (like April) feature higher tax receipts, and thus some months show a surplus. We're not out of deficits by a long shot, but this is a nice indicator of the trend. Hat Tip to See-Dubya. I think it was William Shakespeare who said: "Out of this nettle, danger Pluck this flower, cowbell."
posted by Ace at 02:23 PM
CommentsThat's interesting. I understand the point that income is variable, so that a short-term result can't be projected easily over the whole year. What's not entirely clear to me is whether "June income" means "income for the month of June" or "income for the June quarter." The former would be a curiosity, while the latter would be really exciting. Posted by: Doug on July 15, 2004 08:45 AM
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Forgotten 80s Mystery Click
She's totally committed to major independence She's a lady through and through She gives them quite a battle, all that they can handle She'll bruise some, she'll hurt some too
Update to the video of a Russian soldier being spun around and thrown by the machinegun he was operating: The soldier was testing an old, archaic Russian machinegun intended to be mounted to a helicopter. The old gun was pressed into service as a possible anti-drone gun. The Russian army is generally depleted and being forced to bring a lot of old, unreliable weapons and platforms to the front.
Also: Ukranian drones have
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FDA is providing an update regarding the sample of lettuce supplied by Taylor Farms de Mexico which was reported positive on July 18, 2026. Due to the complexity in detection of Cyclospora, FDA laboratory experts re-reviewed the sample results and have concluded that the finding does not represent true amplification and should be considered a false positive. Information about the sample has been removed from the July 18, 2026, update below. FDA has notified Taylor Farms and continues working with the firm to ensure product implicated in this outbreak has been removed from the market. FDA and state partners continue to collect and analyze product samples. As of July 19, 2026, there are no confirmed positive sample results for product testing for Cyclospora.[CBD]
FEDERAL APPEALS COURT STRIKES DOWN
NJ "ASSAULT WEAPONS" BAN/MAGAZINE BAN! Let's see if it reverts to the previous 15 round limit or I can actually run my weapons as God intended! [CBD]
Forgotten 80s Mystery Click: Northern Lights Division
Our topic today is music That's right, like 'Cause my brother and I are now experts in the field, eh Yeah, right, 'cause we're a band now Uh, yeah, so Except for him, I'm a band Aw, how can you do that? You're making me look bad You're such a Hosehead
CNBC ranks Tennessee as dead last in its “Worst States to Live” analysis. The specific reason is that cross-dressing men in TN are denied access to children and women’s private spaces. Texas finished 49th. The “worst” states were all red states. [Buck]
Senator Lindsey Graham (R - SC) has died after a "brief and sudden illness." [Buck]
The "Evel Knievel Experience," a museum dedicated to the famous daredevil, opens in (where else) Las Vegas
Well I guess they could have opened it on the Snake Canyon.
In response to someone asking why the video tape doesn't show Tyler Robinson's face (PS, it does, but it's crappy video so it's blurry):
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