US Posts $51.8 Billion Budget Surplus in June
The United States recorded a budget surplus of $51.8 billion in June, down 27 percent from the same period last year as spending increased more than receipts.
In June, receipts totaled $342.9 billion, a 6 percent rise from June 2014, while outlays stood at $291.2 billion, up 15 percent from June 2014. A year ago, the government had a surplus of $70.5 billion; receipts totaled $323.6 billion while outlays stood at $253.1 billion. In June, the government typically generates a surplus as corporate and individual taxes are collected at end of the month.
Over the past 12 months the budget deficit totalled $431 billion, down nearly 20 percent from a year earlier. It is the second lowest 12-month deficit since August 2008. Revenue for the 12-month period ended June is nearly 9 percent over the year-earlier level, while spending is up 4 percent.
The current fiscal year-to-date deficit ( (since October) stood at $313.4 billion at the end of June, down from $366 billion for the year-earlier period.
7/13/2015 7:30:56 PM