J. Scott Applewhite, File, Associated Press
WASHINGTON — The U.S. government ran a monthly budget surplus in June, putting it on course to record the lowest annual deficit since 2008.
The Treasury Department says the June surplus totaled $71 billion, following a $130 billion deficit in May. The government also ran a surplus in June 2013, bolstered by dividends from Fannie Mae, the mortgage giant under federal conservatorship for the past six years.
For the first nine months of this budget year, the deficit totals $366 billion, down 28 percent from the same period in 2013. Tax receipts are up 8 percent compared to the prior year-to-date, while spending has increased 1 percent.
The Congressional Budget Office is forecasting a deficit of $492 billion for the full budget year ending Sept. 30.
- Poll: Two-thirds of US would struggle to...
- Stocks move higher, led by technology and banks
- US home sales growth driven mostly by Midwest
- Diego Rivera painting sells privately for...
- G-7 finance leaders seek to reassure on...
- GE announces deals worth over $1.4 billion...
- New Mexico is first to sue EPA, mine owners...
- Office of Economic Development names...
- Religious freedom is good for business,... 29
- If Hillary becomes president, will she... 17
- Can Donald Trump fix the U.S. economy... 14
- Poll: Two-thirds of US would struggle... 11
- Utah aglow with new solar developments,... 6
- New Mexico is first to sue EPA, mine... 4
- GE announces deals worth over $1.4... 1
- How to manage the home stretch to... 1