WTF is the AP talking about here? Was this WH spin? or what?

[Up2Late]

Government's Budget Deficit Surges to $113.9 Billion in February

By Martin Crutsinger The Associated Press
Published: Mar 10, 2005

WASHINGTON (AP) - The federal government ran a record monthly deficit of $113.9 billion in February, a sizable worsening of the budget picture compared to a rare surplus recorded in January, the Treasury Department reported Thursday.

<http://ap.tbo.com/ap/breaking/MGBLWG3D56E.html>

:wtf:(Could someone explain this to me? What the HELL is the AP talking about when they said Yesterday in the AP story (at link above), when they said, "...compared to a rare surplus recorded in January..."?

See today's report from Reuters and I think you'll see my confusion.)

Trade Gap Widens in Jan. on Import Surge

Fri Mar 11, 2005 09:14 AM ET

By Tim Ahmann

WASHINGTON (Reuters) - A surge in imports of consumer goods pushed the U.S. trade deficit to a wider-than-expected $58.3 billion in January, the second biggest on record, the government said on Friday.

U.S. exports rose 0.4 percent to a record $100.8 billion, the Commerce Department said. But a 1.9 percent jump in imports, which also hit an all-time high at $159.1 billion, swamped the export gain and led to the biggest trade gap since November's record $59.4 billion shortfall.

Wall Street economists had expected the trade gap to widen slightly to $56.5 billion from December's originally reported $56.4 billion shortfall. December's deficit was revised to $55.7 billion.

The U.S. dollar initially dropped but rebounded, and bond prices slipped on the data. Stock index futures were little changed. Gold prices, which were down earlier, rose to a fresh 2005 high.

(more at link)

<http://www.reuters.com/newsArticle.jhtml?type=businessNews&storyID=7878346&src=rss/businessNews>

[fooj]

1. Isn't the AP owned by Moon?

Might be why this disinformation hit the press...just a thought.

Peace!

[xray s]

4. Moon owns UPI

Though I think they have moles at AP

[Zenlitened]

5. I thinkMoon owns UPI - n/t

[fooj]

9. Thanks! My mistake...it can all be a clusterfu** of info...

Peace!

[chascaz]

2. is the federal budget deficit the same as the trade deficit?

I think that's where your confusion lies.

Peace - :)

[hootinholler]

3. The trade deficit and budget deficit are two different things.

One is do we sell or buy more abroad and the other is did we raise enough in taxes to pay for everything.

-Hoot

[xray s]

6. The AP story explains it at the bottom

The $113.9 billion monthly deficit in February followed a rare surplus of $8.6 billion in January. The big swing occurred on the revenue side as receipts fell to $100.9 billion in February after having hit $202.2 billion in January, a month in which the government's coffers are swelled by quarterly tax payments.

Actually, I am quite surprised Bush didn't run around the country in January crowing about how he "balanced the budget".

[Up2Late]

8. O.K. I see my confusion now

:think:I hate the way they report this type of news in little trickles every day.

Thanks:hippie:

[tsuki]

7. "...compared to a rare surplus recorded in January..."

That is when you get all the invoice monies in, but the vendors are not due until the 10th of February.