U.S. government posts $55 billion budget surplus in January
Reuters
Published Feb 10, 2016 02:07PM ET
U.S. government posts $55 billion budget surplus in January
WASHINGTON (Reuters) - The U.S. government posted a $55 billion budget surplus in January, up from an $18 billion deficit in the same month a year ago, the Treasury Department said on Wednesday.
Analysts polled by Reuters had expected a $45 billion surplus for last month. Treasury officials said the surplus was boosted by the highest receipts on record for the month of January.
Receipts last month totaled $314 billion, while outlays stood at $258 billion.
Increased receipts of individual and social insurance taxes contributed to the surplus, a Treasury official said.
Differences in monthly calendar adjustments, including $42 billion in outlays as a result of a benefits payments shift into December 2015, also contributed to the surplus.
Accounting for those adjustments, the January surplus was $15 billion, compared to an adjusted $2 billion surplus in the same month a year ago.
The current fiscal year-to-date deficit stood at $160 billion, compared to a deficit of $194 billion at the same point last year.
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Written By: Reuters
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