Sunday, May 12, 2013

Where's the money coming from?

From the WSJ - "The U.S. government posted its biggest monthly budget surplus in five years as record revenues bolster federal finances and push off a drop-dead date for the debt ceiling".

Where are the revenues coming from?  Tax receipts are rising as the economy picks up steam but the real contributor is the oil and NATGAS boom. 

In oil rich Texas alone the state collected over 60 billion dollars in combined revenues (state, county and municipal) in 2012.

Our federal deficit problem may turn into a mirage ...