U.S. Federal Government Finances Surplus / Deficit

<body topmargin=0 leftmargin=0 marginheight=0 marginwidth=0> <table cellpadding=0 cellspacing=0 border=0><tr> <td valign="top" colspan=2 height=82 style=" border-bottom: 3px solid #FF9900;" BGCOLOR="#006600" TEXT="#F7F7FF" bgproperties="fixed" background="7ce005521dwnpjk.jpg"> <div> <FONT SIZE="5" COLOR="#FFFFFF" FACE="Arial" ><B>InvestmentTools.com</B></FONT><FONT SIZE="2" COLOR="#000000" FACE="Arial" >  <style type="text/css">  </style> </FONT><FONT SIZE="2" COLOR="#CCCC99" FACE="Arial" > </FONT> |     <A HREF="https://investmenttools.com/" TARGET="_top" TITLE="https://investmenttools.com/">home</A></div> <div> <A HREF="https://investmenttools.com/the_home_of_investmenttools__the_com_tock_letter_and_tradingtools.htm" TARGET="_top" TITLE="https://investmenttools.com/the_home_"><B>About</B></A><B>   </B><A HREF="https://investmenttools.com/equities" TARGET="_top" TITLE="https://investmenttools.com/equities"><B>Equities</B></A><B>   </B><A HREF="https://investmenttools.com/futures" TARGET="_top" TITLE="https://investmenttools.com/futures"><B>Commodity/Futures</B></A><B>   </B><A HREF="index.htm" TARGET="_top" TITLE="The State"><B>The State</B></A><B>    </B><A HREF="https://investmenttools.com/bonds" TARGET="_top" TITLE="https://investmenttools.com/bonds"><B>Notes/Bonds</B></A><B>    </B><A HREF="https://investmenttools.com/editorials.htm" TARGET="_top" TITLE="https://investmenttools.com/editorial"><B>Editorials</B></A><B>      </B><A HREF="https://investmenttools.com/com_tock_letter.htm" TARGET="_top" TITLE="https://investmenttools.com/com_tock_"><B>Com$tock Letter</B></A><B>  </B><A HREF="https://investmenttools.com/welcome_to_the_links__page.htm" TARGET="_top" TITLE="https://investmenttools.com/welcome_t"><B>Links</B></A><B>    </B><A HREF="https://investmenttools.com/thefed" TARGET="_top" TITLE="https://investmenttools.com/thefed"><B>The Fed & Short Sales</B></A><B>    </B><A HREF="https://investmenttools.com/median_and_average_sales_prices_of_houses_sold_in_the_us.htm" TARGET="_top" TITLE="https://investmenttools.com/median_an"><B>Real Estate</B></A><B>     </B><A HREF="https://investmenttools.com/finacial_planning.htm" TARGET="_top" TITLE="https://investmenttools.com/finacial_"><B>Miscellaneous</B></A></div> <div> </div> </td> </tr><tr> <td valign="top" width=206 style="border-right: 4px solid #006600;" BGCOLOR="#FF9900" TEXT="#080000"> <div> <TABLE BORDER="4" CELLPADDING="4" CELLSPACING="4" WIDTH="175" BORDERCOLORLIGHT="#C0C0C0" BORDERCOLORDARK="#808080" FRAME="BOX" RULES="ALL" HSPACE="0" VSPACE="0" BGCOLOR=#FFFFFF > <tR> <tD VALIGN=TOP HEIGHT= 175 WIDTH="149"><div> <B>I place economy among the first and most important of republic virtues, and public debt as the greatest of the dangers to be feared.</B></div> <div> <B>Thomas  Jefferson</B></div> </tD> </tR> </TABLE></div> <bR> <bR> <bR> <bR> </td> <td valign="top" height=398 width="100%" BGCOLOR="#FFFFFF" TEXT="#080000"> <div> <B>U.S. Federal Government Finances Surplus / Deficit</B></div> <bR> <bR> <bR> <bR> <div> <TABLE BORDER="2" CELLPADDING="2" CELLSPACING="1" WIDTH="468" BORDERCOLORLIGHT="#C0C0C0" BORDERCOLORDARK="#808080" FRAME="VOID" RULES="ROWS" HSPACE="0" VSPACE="0" > <tR> <tD VALIGN=TOP HEIGHT= 16 WIDTH="351"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="16" ALIGN="bottom" WIDTH="351" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP><NOBR><div> <A HREF="#notes" TITLE="U.S. Federal Government Finances Surplus"><FONT COLOR="#0033FF"><B>Notes & LInks</B></FONT></A></div> </NOBR></tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 16 WIDTH="351"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="16" ALIGN="bottom" WIDTH="351" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP BGCOLOR=#DDDDDD><NOBR><div> <A HREF="index.htm" TARGET="_top" TITLE="The State"><FONT COLOR="#003399"><B><IMG BORDER="0" SRC="Symb075c00b700c899330000.png" HEIGHT="13" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">More State</B></FONT></A></div> </NOBR></tD> </tR> </TABLE></div> <bR> <div> <TABLE BORDER="0" CELLPADDING="2" CELLSPACING="1" WIDTH="640" BORDERCOLORLIGHT="#C0C0C0" BORDERCOLORDARK="#808080" FRAME="VOID" RULES="NONE" HSPACE="0" VSPACE="0" > <tR> <tD VALIGN=TOP HEIGHT= 277 WIDTH="600"><div>  <iframe src="https://fred.stlouisfed.org/graph/graph-landing.php?g=tEsf&width=670&height=475" scrolling="no" frameborder="0"style="overflow:hidden; width:670px; height:525px;" allowTransparency="true" loading="lazy"></iframe>  </div> </tD> <tD VALIGN=TOP WIDTH="29"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="277" ALIGN="bottom" WIDTH="29" HSPACE="0" VSPACE="0"></tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 55 WIDTH="600"><div> <B><IMG BORDER="0" SRC="Wing0a7300a800f00099ff00.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Notes & Links</B></div> </tD> <tD VALIGN=TOP WIDTH="29"><div>  <A NAME="notes"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 218 WIDTH="600"><div> <FONT SIZE="2" COLOR="#000000" FACE="Courier New" ><IMG BORDER="0" SRC="Symb075c00b700c800000000.png" HEIGHT="13" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">10/22/04 T</FONT><FONT SIZE="2" COLOR="#0033FF" FACE="Courier New" >he Bush Budget Deficit Death Spiral  </FONT><FONT SIZE="2" COLOR="#000000" FACE="Courier New" >When the ultimate collapse will occur, whether it comes with a bang or a whimper, how it will be triggered, and how severe it will be are as yet unknown. But as Herbert Stein, Chairman of the Council of Economic Advisers under Richard Nixon was fond of saying, </FONT><B><U>“T</U></B><B><U>hings that can’t go on forever, don’t.</U></B><B><U>” </U></B></div> </tD> <tD VALIGN=TOP WIDTH="29"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="218" ALIGN="bottom" WIDTH="29" HSPACE="0" VSPACE="0"></tD> </tR> </TABLE></div> <bR> <bR> <bR> <div>   <script type="text/javascript"> _qoptions={ qacct:"p-basisC2e0drco" }; </script> <script type="text/javascript" src="https://edge.quantserve.com/quant.js"></script> <noscript> <img src="https://pixel.quantserve.com/pixel/p-basisC2e0drco.gif" style="display: none;" border="0" height="1" width="1" alt="Quantcast"/> </noscript>   </div> <div>  <script type="text/javascript"> var gaJsHost = (("https:" == document.location.protocol) ? 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