December set record for highest US govt surplus $53 billion - GoFuckYourself.com

crockett · 01-13-2014, 01:05 PM

Looks like the bail outs are working...

Quote:

WASHINGTON (Reuters) - The U.S. government last month posted the largest budget surplus for any December on record, boosted by payments from government-controlled housing finance giants Fannie Mae (FNMA) and Freddie Mac (FMCC).

The mortgage-finance companies, which were propped up by $187.5 billion in taxpayer money after they were placed under government control in 2008, made hefty dividend payments last month in return for the support they received.

Those payments helped the government take in $53 billion more in revenue in December than it paid out, the U.S. Treasury said on Monday. Analysts polled by Reuters had expected a surplus of only $44.0 billion.

Under the terms of the bailout for Fannie Mae and Freddie Mac, the government gets a majority of the companies' quarterly profits. The two companies made payments to the Treasury totaling $39.57 billion at the end of last year.

For the first three months of the budget year, the Treasury posted a deficit of $173.6 billion, down 41 percent from the $293.30 billion shortfall from October through December 2012.

Government spending fell 8 percent to $838.20 billion in December. The payments from Fannie Mae and Freddie Mac help reduce spending, and are not included in total revenues.

(Reporting by Margaret Chadbourn; Editing by Andrea Ricci)

http://finance.yahoo.com/news/u-post...200031584.html

I was wondering why my Fannie Mac stock jumped up on Friday..

L-Pink · 01-13-2014, 01:09 PM

"Government spending fell 8 percent to $838.20 billion in December."

Yea right. Sounds like Hollywood accounting to me.

Vendzilla · 01-13-2014, 01:19 PM

Yet the fed is still printing 85 billion a month

http://www.npr.org/2013/12/17/251796...llion-question

So what happened to that $85 billion a month ? $1 trillion total ? that the Fed has pumped into the financial system over the past year?

"It all got bottled up in the banks, and essentially none of it ... got lent out," Blinder says.

seeandsee · 01-13-2014, 01:22 PM

Yeah america is not printing money?

01-13-2014, 01:19 PM	#3
Vendzilla Biker Gnome Industry Role: Join Date: Mar 2004 Location: cell#324 Posts: 23,200	Yet the fed is still printing 85 billion a month http://www.npr.org/2013/12/17/251796...llion-question So what happened to that $85 billion a month ? $1 trillion total ? that the Fed has pumped into the financial system over the past year? "It all got bottled up in the banks, and essentially none of it ... got lent out," Blinder says. __________________ Webair died? Carbon is not the problem, it makes up 0.041% of our atmosphere , 95% of that is from Volcanos and decomposing plants and stuff. So people in the US are responsible for 13% of the carbon in the atmosphere which 95% is not from Humans, like cars and trucks and stuff and they want to spend trillions to fix it while Solar Panel plants are powered by coal plants think about that

01-13-2014, 01:22 PM	#4
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	Yeah america is not printing money? __________________ BUY MY SIG - 50$/Year Contact here

01-13-2014, 01:09 PM	#2
L-Pink working on my tan Industry Role: Join Date: Mar 2005 Location: Florida/Kentucky Posts: 39,151	"Government spending fell 8 percent to $838.20 billion in December." Yea right. Sounds like Hollywood accounting to me.