NEW YORK (CNNMoney) -- For the first time in more than three years, Washington took in more money than it paid out last month.
The
Treasury Department on Thursday recorded a $59 billion surplus. Tax
receipts were higher and spending lower than they were last April.
The government has been bedeviled by budget deficits. The last time federal coffers were in the black for a month was September 2008, when Treasury reported a $46 billion surplus.
Of course, a lot has happened since then: a historic financial crisis, a deep recession and a slow recovery.
To counteract the negative effects on the economy, lawmakers have passed at least $2 trillion in tax cuts and spending increases since 2008.
Even though a surplus after so much time is welcome news, it's not likely to be the start of a trend. Including the April surplus, Treasury forecasts a $1.33 trillion deficit for fiscal year 2012, which ends Sept. 30.
Friday, May 11, 2012
Wednesday, May 09, 2012
Obama declares support for gay marriage
WASHINGTON >> Equivocal no
longer, President Barack Obama declared his support for gay marriage on
Wednesday in a historic announcement that instantly elevated a
polarizing social issue to a more prominent role in the 2012 race for
the White House.
The announcement was the first
by a sitting president, and Obama's Republican rival, Mitt Romney,
swiftly disagreed with it. "I believe that marriage is between a man and
a woman," Romney said from Oklahoma.
Gay rights advocates cheered
Obama's declaration, which they had long urged him to make. Joe
Solomonese, president of the Human Rights Campaign, said it "extends
that message of hope" to gays and lesbians.
Obama announced his shift — he
had said for years that his views on gay marriage were "evolving" — in
an interview with ABC in which he cited a blend of the personal and the
presidential.
He said "it wouldn't dawn" on
his daughters, Sasha and Malia, that some of their friends' parents
would be treated differently than others, and added that he had thought
of aides "who are in incredibly committed monogamous same-sex
relationships who are raising kids together."
He added he had also thought
about "those soldiers or airmen or Marines or sailors who are out there
fighting on my behalf, and yet feel constrained even though now that
'don't ask, don't tell' is gone because they're not able to commit
themselves in a marriage."
The president's decision to
address the issue came on the heels of a pair of events that underscored
the sensitivity of the issue.
Vice President Joe Biden said in
an interview on Sunday that he is completely comfortable with gays
marrying, a pronouncement that instantly raised the profile of the
issue. White House aides insisted the vice president hadn't said
anything particularly newsworthy, but gay rights groups cited Biden's
comments in urging the president to announce his support.
On Tuesday, voters in North
Carolina — a potential battleground in the fall election — approved an
amendment to the state constitution affirming that marriage may only be a
union of a man and a woman.
While the nation appears roughly divided on the issue, the political cross-currents are tricky.
Some top aides argued that gay
marriage is toxic at the ballot box in competitive states like North
Carolina and Virginia because, as Tuesday's vote demonstrated, the issue
remains a reliable way to fire up rank-and-file Republicans. It also
could open Obama up to Republican criticism that he is taking his eye
off the economy, voters' No. 1 issue.
Other Democratic supporters
claim Obama's decision could energize huge swaths of the party,
including young people. He also could appeal to independent voters, many
of whom back gay marriage, and he could create an area of clear
contrast between himself and his Republican rival as he argues that he's
delivered on the change he promised four years ago.
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