Posted on 07/12/2013 1:35:20 AM PDT by Libloather
The U.S. government posted an unexpectedly large budget surplus in June, a further sign of the rapid improvement in public finances that has taken the heat off Congress to find savings and raise the nation's borrowing limit.
Rising tax revenue, public spending cuts and big payments to the Treasury from government-backed mortgage companies helped the government take in $117 billion more last month than it paid out, the U.S. Treasury said on Thursday.
Analysts polled by Reuters had expected a surplus of $39.5 billion.
June's surplus was the largest on record for that month.
While the government is still $510 billion in the red with three months to go in the fiscal year, June's big surplus will buy it time before it runs up against the limit on borrowing set by Congress. Analysts expect the Treasury to hit the debt ceiling by early November.
(Excerpt) Read more at nbcnews.com ...
When will the media be taken to task for their blatant abuse (and actual casting away) of their press freedom?
Oh, and don’t forget the murder of the truth.
In what respect is this a surplus if the gov’t didn’t take in more than it spent? It’s more than they expected to take in, but it’s not a surplus. More leftist redefining of the language to mean what they want it to mean rather than what it does mean.
Yes, I see they’re talking about June, not the entire year. If they did month-based budgeting that would mean something. They don’t, and it doesn’t.
anyone tracking where it came from?
easy to bring in an extra $80 billion ... when you print it
Honey! The Visa bill is two thousand dollars LESS than we thought it would be! Now we only owe 60 million!
A SURPLUS???
How the hell do you have a surplus when you have 16 TRILLION dollars of debt??
The economy is growing steadily. We deported record numbers of illegals last year. We had a large budget surplus in June.
LOL x 3
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