Congressional Budget Office: Federal budget deficit declining; $231 billion less than 2012 #BlameObama



First let me share a few headlines, then I'll get into some detail. All of these are from The Hill, including the blog headline about the CBO showing a decline in the budget deficit:

So to recap: The federal budget deficit is shrinking, Mitch McConnell and his Merry Band of Loons are doing their usual obstruction dance, the White House will veto if the GOP insists on continuing their "the debt limit is just default by another name" b.s., and the likelihood of an agreement on anything in the world ever is shrinking as fast as the deficit.

Can this get any more frustrating?

Check this out, keeping the new Republican-opposed tax increase in mind:

The Congressional Budget Office reported Tuesday that the federal budget deficit is declining this year compared to fiscal 2012.

For the first seven months of 2013, the deficit was $489 billion. That is $231 billion less than the budget shortfall for the comparable period last year.

The decrease is almost entirely due to revenue increases. Revenues rose $200 billion and spending decreased only $11 billion.

And McConnell continues to insist that Republicans will block an increase the debt limit if it is not attached to legislation to reduce the federal deficit. They don't want us to pay our bills. Sorry, I lost control and lapsed into a larger font. 

The White House:

"American families do not get to choose which bills to pay and which ones not to pay, and the United States Congress cannot either without putting the Nation into default for the first time in its history."

There's that. And Mitch? The federal deficit is already shrinking... Remember?

chart budget deficit shrinks 4 year low Steve Benen Maddow Blog Oct 2012

Harry Reid said, “We’ve known for years that the Tea Party has full control of the House, but now we understand they have full control of the Republican caucus here in the Senate."

Reid noted the most outspoken Republican on the issue of moving to a budget conference has been Sen. Ted Cruz (R), whom he called the “very junior senator from Texas.”

it's crazy in here