Apparently, the US govt ran a surplus last month.
http://www.guardian.co.uk/worldlatest/story/0,1280,-5138931,00.html
Wednesday July 13, 2005 8:31 PM
By MARTIN CRUTSINGER
AP Economics Writer
WASHINGTON (AP) - The government recorded the largest June budget surplus in three years, reflecting a continued surge in government tax collections, the Treasury Department reported Wednesday.
In its monthly budget statement, Treasury said the excess of government tax collections over spending rose to $22.4 billion last month. That compared with a surplus of $19.1 billion recorded a year ago and was the largest June surplus since $29 billion in 2002.
The report came on a day when the Bush administration lowered its estimate for the budget deficit for this year to $333 billion, down from the $427 billion estimate it had made in February.
The administration credited surging revenues from a rebounding economy for the improvement.
For June, the amount of receipts totaled $234.8 billion, the highest figure, after adjusting for inflation, since June 2000.
So far this year, government revenues total $1.6 trillion, a 14.6 percent gain from the $1.4 trillion collected during the first nine months of the 2004 budget year.
http://www.guardian.co.uk/worldlatest/story/0,1280,-5138931,00.html
Wednesday July 13, 2005 8:31 PM
By MARTIN CRUTSINGER
AP Economics Writer
WASHINGTON (AP) - The government recorded the largest June budget surplus in three years, reflecting a continued surge in government tax collections, the Treasury Department reported Wednesday.
In its monthly budget statement, Treasury said the excess of government tax collections over spending rose to $22.4 billion last month. That compared with a surplus of $19.1 billion recorded a year ago and was the largest June surplus since $29 billion in 2002.
The report came on a day when the Bush administration lowered its estimate for the budget deficit for this year to $333 billion, down from the $427 billion estimate it had made in February.
The administration credited surging revenues from a rebounding economy for the improvement.
For June, the amount of receipts totaled $234.8 billion, the highest figure, after adjusting for inflation, since June 2000.
So far this year, government revenues total $1.6 trillion, a 14.6 percent gain from the $1.4 trillion collected during the first nine months of the 2004 budget year.