Budget Deficit in U.S. Narrows to 5-Year Low on Record Revenue

Comments Off on Budget Deficit in U.S. Narrows to 5-Year Low on Record Revenue

Fed tax revenue record $2.77 trillion. We don’t have a revenue problem, WE HAVE A SPENDING PROBLEM.

The U.S. posted its smallest budget deficit in five years as employment gains helped propel revenue to a record.

Spending exceeded receipts by $680.3 billion in the 12 months ended Sept. 30, the narrowest gap since 2008, compared with a $1.09 trillion shortfall in fiscal 2012, the Treasury Department said today in Washington. In September, the U.S. recorded a $75.1 billion surplus, little changed from the surplus in the same month a year earlier.

Stronger hiring has helped reduce the country’s deficit as a share of gross domestic product by more than half in the past four years, narrowing it from a record $1.42 trillion in 2009. Bolstering revenue this year were higher payroll taxes Congress allowed in January, while spending growth has been limited by across-the-board cuts known as sequestration that lawmakers failed to prevent in March.

“We’ve made a lot of fiscal progress in the U.S. because of the sequester cuts, tax rates going back to historic norms and the economy improving,” said Bricklin Dwyer, an economist at BNP Paribas in New York. “Politicians have, thus far, avoided the most difficult choices — addressing unsustainable spending on entitlements such as Medicare and Medicaid.”

Revenue jumped 15.2 percent to $301.4 billion in September from a year earlier, bringing the annual figure to $2.77 trillion, today’s report showed. Spending increased 21.5 percent to $226.4 billion last month, contributing to a 12-month total of $3.45 trillion, it showed.

Continue reading:

Budget Deficit in U.S. Narrows to 5-Year Low on Record Revenue – Bloomberg.

White House Orders Insurance Companies Not to Criticize Obamacare

Comments Off on White House Orders Insurance Companies Not to Criticize Obamacare

The White House is ordering insurance companies not to criticize Obamacare and threatening “retribution” against executives who speak out, according to CNN reporter Drew Griffin.

During a segment on CNN’s Anderson Cooper 360 last night, Griffin revealed that insurance companies had been told to “keep quiet” about the fact that millions of Americans are being told that they cannot keep their existing policies, contradicting Barack Obama’s promise that, “If…you like your plan, you can keep your doctor, you can keep your plan.”

“Basically, if you speak out, if you are quoted, you’re going to get a call from the White House, pressure to be quiet. Several sources tell me and my colleague Chris Frates that insurance executives are being told to keep quiet,” said Griffin, adding, “Sources (are) telling us they fear White House retribution.”

The fact that the White House is threatening private companies with undisclosed forms of “retribution” if they criticize government policy is a shocking display of authoritarianism that wouldn’t look out of place in countries like Communist China or Stalinist North Korea.

As Griffin explains in his report, the Obama administration is trying to keep a lid on the dirty little secret that millions of Americans are losing their coverage as a result of Obamacare, illustrating how Obama blatantly lied when he made assurances that people could keep their existing policy.

» White House Orders Insurance Companies Not to Criticize Obamacare Alex Jones’ Infowars: There’s a war on for your mind!.

Obama forces insurance companies to cancel policies, then blames them for doing it

1 Comment

No doubt this was poll-tested and run by a focus group or two because the entire Democratic party is now in lockstep blaming the insurance companies for cancellations that have come about because rules written by bureaucrats in the Obama administration.

 

Leading Democrats on the Hill have their talking points and they’re sticking with them:

 

“Insurance companies cancel insurance policies. That’s what they do,” said Reid.

You should talk to the insurance companies if they’re dropping people,” said Amy Klobuchar of Minnesota. “The idea here is to have affordable insurance to people that don’t have it.”

“I think whenever possible, they should be able to keep their plan,” Klobuchar finally admitted.

“I don’t think there’s any surprises yet,” said Senator Ben Cardin of Maryland of reports of insurance cancellations.  

“The free market did not change,” Cardin added. “The ability of an insurance carrier or employer to maintain their plans was there, and some are taking other actions.”

Cardin was the only senator asked by TWS to flatly reject the measure to let people keep the plans they had in 2013.  “I think it’s just too early to look at changes for 2014,” he said.

One senator was not willing to cede the point that many Americans would be losing their current health insurance plans. When asked if those folks who like their plans should be able to keep it, Jon Tester, Democrat from Montana, responded, “I think your premise is wrong.”

What was wrong with the premise? “You said millions of people lost their health care,” Tester responded.

What about news reports saying as much?

“They’re wrong,” Tester said. He continued, “I think what we’ve got is we’ve got a current system that we’re moving out of that has a whole bunch of people who don’t have insurance. We’re going to try to get them insurance.”

So was President Obama wrong when he said Americans could keep their insurance if they like it? Tester didn’t say.

“Shut the door,” he told the Capitol elevator operator. “I didn’t pick that up.”

Read more: