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SolaceQuantum 8 days ago | hide | past | web | favorite

> The Treasury said federal spending in June was $342 billion, down 12% from the same month in 2018, while receipts were $334 billion, up 6% compared with June 2018...

> When adjusted for calendar effects, the deficit for June was $55 billion compared with an adjusted deficit of $30 billion in June 2018. Calendar adjustments had little effect on the year to date figures.

Can anyone clarify this for me?

I'm familiar with calendar adjustments in the sense of smoothing patterns (e.g. construction stopping in the winter) that happen over the course of the year to better compare between quarters. But it's not at all obvious to me what it means to adjust for "calendar effects" in a June-to-June comparison. (The nature of the adjustment seems particularly significant for this story, since it's the difference between a shrinking and a rising June deficit.)

Each president and congress and spent more than the previous one regardless of revenue, because so far there have been no consequences - fiscal or political for doing so.

This is only true if you consider George W. Bush the earliest president of the United States. It doesn't hold for Clinton.

An interesting thought: ultimately this lack of consequences is backed up by the US's military power.

I will actually upvote this, only because of the interesting irony that a majority of the us deficit is caused by military spending.

At stupid low interest rates expect that trend to continue.

The pressure on spending is often driven by factors that are growing, like inflation which pushes up raw costs, and population, which is also growing. Outside of some discretionary spending (e.g. military) you can't really put a limit on it.

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