U.S. Posts Budget Surplus In December


U.S. federal government posted the largest budget surplus for any December on record, boosted by higher payroll taxes and nearly $40 billion dividend payments from government-controlled Fannie Mae and Freddie Mac.


Revenues outpaced spending by $53.2 billion, the first surplus for the month of December since the 2007 fiscal year. 

The surplus brings the government's budget deficit for the first quarter of fiscal 2014 to $174 billion, 41% lower than the first three months of fiscal 2013. Total receipts, including individual and corporate taxes, are up 8% this fiscal year. Spending has fallen 8% in the first quarter of the year, reflecting lower outlays on agriculture, defense and other programs.

U.S. Posts Budget Surplus In December


US Treasury | anna@tradingeconomics.com
1/13/2014 7:25:00 PM