back in black

Obama Administration (In The) Black

This is your bank account, slob.President Taxes has dealt a new blow to capitalism and job creation and puppies and rainbows, and that is by running a surplus for the first time since the recession ‘sploded in 2008. April saw a positive $58 billion in the old ledger column of however balance sheets work, due to increased revenues (maybe because more people have jobs?) and also cuts in stuff. And so it shouldn’t be more than 10 minutes or so — 20 at the outside — before Rich Lowry starts screaming about how he needs tax cuts, since people know better than the government how to spend their money (blowout in the As Seen On TV aisle, Bump-Its for everyone!) and also because the government has more than it needs. (The government does not actually have more than it needs, because — we’re not sure if people are aware of this — we have a thing called “a debt,” all $15 trillion of which Obama invented, in his time machine.)

The U.S. government recorded a budget surplus of $58 billion in April, the Congressional Budget Office estimated on Monday, breaking a streak of deficits that began in 2008.

The surplus — the first of Barack Obama’s presidency — was the result of both increased tax collection and lower government spending. Before April, the government had not run a surplus since September 2008, the month that the financial crisis struck the U.S. economy. [...]

The improved budget picture will not put an end to election-year sparring about the deficit, however. The U.S. is running a debt of $15.7 trillion, a number often pointed out by Obama’s Republican critics, including White House hopeful Mitt Romney.

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We feel like we might remember something in the far distant past, through space and time, when a country might have had a surplus, and one man wanted to save that money in case we needed it, and the other man wanted to blow it on coke and hookers, and then everybody laughed at the first man because he wore earth tones and now we are all fucked. [MarketWatch, via HuffPo]

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Rebecca is the editor and publisher of Wonkette. She is the author of Commie Girl in the O.C., a collection of her OC Weekly columns, and the former editor of LA CityBeat. Go visit her Commie Girl Collective, and follow her on the Twitter!

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118 comments

    1. anniegetyerfun

      "The only reason that we are running a surplus is because President Obama took my fiscal advice. Seriously, I call him every night and offer him advice on what to do with his day. So this was really all my doing."

    2. GOPCrusher

      I would imagine that this will be touted as an example of the fine Bush Fiscal Policies.

  1. Lascauxcaveman

    The surplus — the first of Barack Obama’s presidency — was the result of both increased tax collection…

    Waitaminute! I think we may be on to something!

    1. Mumbly_Joe

      Increased taxes lead to greater revenues? That's crazy talk! Next you'll be saying that cutting the minimum wage doesn't help fight poverty!

  2. actor212

    In fairness to Republicans, we are only running this surplus because Obama picked up a few deposit bottles on his way home from the office every night.

  3. Baconzgood

    Lets look into Baconz Magic 8-Ball GOP Spin Dr. Thingie (patent pending).

    *Shaking it up*

    OBAMA COOKED THE NUMBERS

    *Shaking it up*

    IT'S THE TEA PARTY FRESHMEN THAT SHOULD GET CREDIT

    *Shaking it up*

    THIS SHOWS THAT THE CUTS ARE WORKING. LET'S GET RID OF NPR

        1. HELisforHEL

          Awww man, we had a thing we were gonna call 'The Baby Shakers' a couple of years ago. Too bad all we did was drink instead of play gigs. MISSED OPPORTUNITIES.

  4. Schmannnity

    A surplus and oil and gas prices falling like a rock. Why does reality hate Romney so?

  5. BigSkullF*ckingDog

    I will be expecting my refund check any day now.

    ~taps foot impatiently

  6. anniegetyerfun

    Just think of what that $58 billion could have done in the hands of jerb creators! Give it all to the rich!

  7. MissTaken

    budget surplus of $58 billion

    Sounds like the perfect time for a war and $100 billion in tax cuts.

  8. weejee

    America is just discovering that Barry is in the black? Kidda thought some had sussed that out some time back. Those with the white pointy hats, TruckNutz, and all. Once again, I haz a confused.

  9. metamarcisf

    Why do I feel guilty that my federal tax refund of $1,681 came in the mail today? Only one thing to do: drinks are on me this afternoon at the Adult Bookstore Bar & Grill.

    1. Negropolis

      Adult Bookstore Bar and Grill: Because nothing goes better with books than breasts and brats.

  10. SayItWithWookies

    Now we can have that war with Iran that Santa Claus promised us back in 2007.

  11. SorosBot

    Yeah, but that Obama hasn't even started any decade-long wars yet; that's what makes a real good President!

      1. SorosBot

        Exactly; between that and the tax cuts creating his huge deficits, allowing the 9/11 attacks to happen, and the shredding of our Constitution, he was truly the bestest President this country could have.

  12. anniegetyerfun

    Nice alt text. I'll have you know that that is probably double what is currently contained in my bank account.

  13. Callyson

    This is just more evidence that we need someone with experience in the private sector to go to the White House and clean up the government's budget mess…

    Wait, what? A surplus? Um, er…

    …but of course! It's the Tea Party that did it!

  14. el_donaldo

    We feel like we might remember something in the far distant past, through space and time, when a country might have had a surplus, and one man wanted to save that money in case we needed it, and the other man wanted to blow it on coke and hookers …

    What is this? A slacker version of Paul Harvey's "The Rest of the Story"?

    "And those men were Dennis Kucinich and Ron Paul."

    {I'm seriously old.}

  15. HateMachine

    If Mitt Romney had been president starting in 2008, we would have been running a 200 trillion dollar annual surplus, because of tax cuts.

  16. JustPixelz

    Socialism may turn the occasional profit, but the real money is in communism — Chinese style. Those guys really now how to make stuff we want to buy regardless of the feudal working conditions.

  17. chascates

    WE ARE GREECE!! CUT IT OR SHUT IT!!

    Wait, did you say a 58 billion dollar surplus?
    INVADE SYRIA!!11

    1. HateMachine

      58 bill isn't going to cut it for that one, we'll have to settle for Petit Syria.

  18. fartknocker

    I can here Senator McWalnuts and the Kalostomy Bag Libermann holding a press conference demanding the $58 billion be given to DOD. Because we need a strong military. For freedumbs.

    1. GOPCrusher

      Well, because you know if they don't get it Speaker Drunky McNicotinestain and Senator Yertle The Turtle will hold a press conference on how that surplus would just be spent on the poors.

  19. James Michael Curley

    And of course Huff Poo conflates Deficit with Debt. There is no $15.7 Trillion Deficit, though many will read it that way. There is a $15.7 Trillion Debt and only about $3.8 Trillion of that accrued under Obama's term. In the last 39 months the Debt has risen less per year than in the eight years of Bush. And it must be remembered that Bush was handed a $3.4 Trillion Debt and a $0 Deficit. Then he ran up the Deficit and increased the Debt with $2.6 Trillion which the Republican Congress passed to fund the Iraq Invasion and specified that it did not have to be monetarily accounted in the budget until fiscal year 2009 – after Bush left office. Obama took the moral high ground and accepted it as on the books less than 10 days after he took office. Many Democrats in Congress wanted to keep it under the carpet.

    1. keinsignal

      Yes, this, I don't know why the Democrats aren't shouting themselves hoarse about the fact we ran an entire fucking war off the books for seven years whenever the debt numbers are brought up.

      1. SoBeach

        I think it's because the people who can be talked to already know. The propagandists and their angry, ill-informed audience CAN'T be talked to, so why bother trying?

    2. HELisforHEL

      Siiigh. Our usual problem–candidates that actually will take the high ground (see Kerry, John and Gore, Al). I just pray Hopey pulls out the Chicago-style political strategy book and buries Mittens and his minions. Because despite what Americans say in surveys, they loves them some negative campaigning. We cannot let that Roboclown win.

      1. James Michael Curley

        “If he pulls out a Mittens, you pull out the brass knuckles.If he puts one of yours in the hospital, you put one of his in the Cayman Islands.”

    3. James Michael Curley

      He didn’t create it. He was faced with the laws passed by the Republican Congress that it would go on the books and he had to chose to man up and face it or try to continue the Bush Swindle for more years.

  20. rickmaci

    Faux Noise Headline:

    Obama Refuses to Compromise with Republicans, Surplus Will Only Be $58 billion.

  21. rickmaci

    Statement from Michele Bachmann:

    "Obama likes to THINK that we are in to the black, but WE won't let him white wash the debt."

  22. keinsignal

    Hey, maybe now the Ron Paul OMG IMMINENT COLLAPSE OF EVERYTHING wing will shut up for five minutes… Nah, probably not.

  23. tihond

    You know what they say "Once you go 'in the black' you go back as soon you elect a Republican President."

  24. Eve8Apples

    The GSA will celebrate by booking a Hangover themed training seminar in Vegas.

  25. GOPCrusher

    How many Republiklans do you think will stand on the House floor and demand that the surplus only be used to pay down the deficit?

  26. DahBoner

    Elect Mitt Romney and he'll get rid of this nasty little surplus quicker than a drunk sailor with $100 in his pocket in a $20 Whore House.

  27. Come here a minute

    You may also know of the priciple of "paying your debts" in which we don't need to really do anything about the "DEBT!!!1!1!!!" because we are making our payments (hence the outrageously low interest rate), so the DEBT will vanish if we keep the deficit at or near zero (in other words, as long as we have a Democrat in the White House).

  28. Veritas78

    I hear the Lincoln bedroom still lacks a round leopard-skin waterbed with a ceiling mirror.

    Seriously, Obama should do this as part of his legacy. Clinton had his chance and now lives with the regret every day.

  29. Negropolis

    You guys remember when Obama decided to put our wars back on the bill so we couldn't keep pretending that multi-billion dollars wars are free, and how that was a huge part of the debt? I know you guys do, but they don't.

  30. Joey_Blau

    poor Al Gore… if only.. if only he had fought back against the lies.. Love Canal.. the Internet… Alpha Male…

    he was too stiff and too, too .. ernest to win.

Comments are closed.