Archive for chart

U.S. budget surplus biggest in 5 years; federal deficit is down 32% so far this fiscal year

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

If Fox Biz says it, it must be true. Via an email alert:

The U.S. federal budget surplus came in at $112.9 billion in April, up from $59 billion in the same month in 2012. The government is running a $488 billion deficit for fiscal 2013, down from $720 billion in a comparable period in fiscal 2012.

And via Market Watch:

It was the first monthly surplus since January and the biggest monthly surplus since the $159 billion budget surplus of April 2008.

Tax receipts were $407 billion, up 28% versus April 2012 [...]

Some see the government’s improving finances as affecting a potential debt deal between President Barack Obama and Republicans. “With the deficit plunging, support for entitlement reform — which looked so promising in early April — has clearly faded,” wrote Greg Valliere, chief political strategist at Potomac Research Group in a note on Friday.

Gee, taxes were raised, unemployment is down, and the world didn’t end.

bikini graph May 2013 private sector

Everybody say it with me now: Blame Obama.

blame obama Bush's fault

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

oy

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

Bikini Graph time! Jobs added, unemployment rate down to 7.5%, lowest in 4/12 years

bikini itsy bitsy

It’s time to bring back the Bikini Graph! As always, red columns point to monthly job totals under the Bush administration, while blue columns point to job totals under the Obama administration:

bikini graph May 2013 overallbikini graph May 2013 private sector

Paddy gave us the quickie version here, but as always, the wonderful Steve Benen at The Maddow Blog has provided the Bikini Graphs and more, including more details you can find at the links here and here. A couple of excerpts from both links:

For most of President Obama’s first term, one of the more common Republican talking points focused on the overall unemployment rate: it was stuck above 8%, a fact they blamed on the president who inherited a global economic crisis.

You may have noticed that this GOP talking point has since vanished.

As of today, the unemployment rate is down to 7.5%, which is not only the lowest point of the Obama presidency, but also the lowest since late 2008. It’s dropped a full point in the last year and a half, a 2.5 points since its October 2010 high.

It’s also one of the fastest improvements in the jobless rate in the last 30 years

He goes on to say that, since President Obama took office, the net jobs gain is over 1.5 million overall and over 2.2 million in the private sector.

And:

As is usually the case, there was a gap between the two major sectors — America’s private sector added 176,000 jobs last month, while spending cuts caused the public sector lose 11,000 jobs.Of course, these are preliminary totals that will be updated in the coming months, and therein lies the key importance to this new jobs report: the revisions… Also note, the February job totals, the best in eight years, came after January’s tax hikes, but before the sequester. [...]

[W]ere it not for Congress and sequestration cuts, the nation’s economic recovery would likely be quite strong right now. Were it not for the lawmakers Americans elect to represent our interests, and their ongoing efforts to take capital out the economy and slash public investments, job growth would probably be very robust.

graph benen Maddow blog unemployment under ObamaOh, and there’s this via a Fox Biz email alert:

The blue-chip average topped the 15000 mark for the first time ever as traders cheer a round of strong data on the U.S. labor market. The broader S&P 500 also hit a milestone, surpassing the 1600 threshold for the first time. The two market barometers are up more than 1% on the day and 13% for the year.

Someone please let 40%-plus of Americans know that Obamacare is still law

misinformation danger

According to Think Progress and this chart from Kaiser Health, more than 40% of Americans still do not know that the Affordable Care Act, aka Obamacare, is the law of the land. 4-0. Forty. Even though it’s been around for three years and counting.

chart obamacare is law

We can see the talking heads on the right have done their job well, because 12% thought Congress repealed Obamacare. They must be Michele Bachmann fans. And 7% think the Supreme Court overturned it, even though their decision was so well-publicized, although maybe they hung on to CNN getting that so embarrassingly wrong too (“too” referring to how they mangled the Boston Marathon bombing story).

So, despite all the endless media coverage to the contrary, America doesn’t get it. Or hear it. Or see it. Or read it:

Kaiser found that Americans’ education gaps fall along class lines, as wealthier Americans are more likely to have heard something about health care reform from newspapers, radio, or online sources. Just 30 percent of those with lower incomes reported that they had received information about Obamacare from those sources. [...]

The good news, as Wonkblog’s Sarah Kliff points out, is that there’s still some time to change the tide. Obamacare’s new health care options still won’t be available for another seven months, and some health care advocates point out that it might be confusing to tout a product that isn’t accessible yet.

glass half full

VIDEO: Need Congress to hear you? When money talks, democracy has no voice.

money talks democracy has no voice
chart senators responsiveness to income groups

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Chris Hayes has been impressing me more and more as time goes on. Here’s what he had to say on his show “All In” to U.S. Senators about the impact the sequester is having on some of the most needy among us, vs the impact it’s having on members of Congress, and how Congress is responding.

Who’s “inconvenienced” more, Senators? Whose opinion matters? Who are you concerned about? Or should I say, what are you concerned about? Answer: Money. It sure isn’t the American people.

Chris Hayes:

Here is what I wish could happen today: I wish every single cancer patient, and every single kid who is getting kicked out of Head Start, and every person losing a job at a government facility because of cut backs or furloughs, every family losing Section 8 housing assistance, I wish every single one of them could have gotten together and been bussed by the thousands from all parts of the country to Reagan National Airport and been rolled out on to the runway and strung out in a line that stretches across the entire air field so that those planes carrying the members of Congress who just cast this vote couldn’t take off. How’s that for inconvenience, Senator?

Here is the entire segment:

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Social Security belongs to all of us. Don’t let them cut it.

social security no cuts obamaPetition here

chained cpi food purchase cutschart graph chained cpi reduced paymentsSocial Security belongs to all of us. Don’t let them cut it!

August 2012: V.P. Biden “flat guarantees” no changes in Social Security, which “effectively takes Social Security off the table.”

So much for that “guarantee.”

Via Strengthen Social Security:

Some politicians in Washington are preparing to cut your Social Security COLA for good–even after two years without getting a COLA. This COLA cut has an obscure name: chained-CPI. But it would do real damage by changing the formula used to calculate the COLA. Here’s what you need to know about it:

  • It’s a benefit cut. It’s not some minor technical change to the COLA. It’s a real cut to the benefits you have earned every year into the future.

  • It cuts benefits more with every passing year. After 10 years, your benefits would be cut by about $500 a year for the average retiree. After 20 years, your benefits would be cut by about $1,000 a year.

  • It hits today’s Social Security beneficiaries. Politicians like to say that their cuts to Social Security will not affect those getting benefits today. Wrong! Switching to the chained-CPI would hit all current beneficiaries.

  • We need a higher COLA, not a lower one. The current COLA is not large enough–it does not adequately account for large health care cost increases faced by seniors and people with disabilities.

Please go to Strengthen Social Security for more. And here’s more about what “chained CPI” would do (scroll).

VIDEO: The last safety “inspection of the West fertilizer plant happened in– 1985.”

chart deaths terrorists v workplace v firearms guns

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Chris Hayes:

Records from the Federal Occupational Safety Administration shows the last agency’s inspection of the West Fertilizer plant happened in– 1985. For a few violations OSHA considered serious, the company was fined, wait for it. $30.

If twenty-eight years seems like a very long time between OSHA inspections for an inherently risky workplace, keep this in mind: According to the New York Times, while the number of inspectors has grown under the Obama administration, OSHA still just has 2400 responsible for overseeing roughly 8 million work sites. Roughly one inspector per 60,000 workers, a ratio that hasn’t changed since 1970

We talked last night about fatalities from terrorism and gun deaths. There’s a category we didn’t mention, which is workplace fatalities. From 2000-2010  3,033 Americans died from terror attacks. During that same time. 335,000 Americans died from the hands of a gun while there were over 60,000 workplace deaths.

Then Rachel Maddow covered it this way:

fertilizer explosion texas

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