“According to the latest Monthly Treasury Statement, the U.S. posted a budget surplus of $2.88 billion in January. Economists surveyed by Bloomberg were expecting a deficit of $2.0 billion.
According to Reuters, this is the first January budget surplus in five years.
Receipts were $272.2 billion while the spending was $269.3 billion. This is important to remember, because budget deficits and surpluses aren’t just about spending levels. Indeed, growth plays just as important a role.
Economists have been expecting the January report to benefit from the recent expiration of the payroll tax cut. However, this report nevertheless surpassed expectations….”
If you enjoy the content at iBankCoin, please follow us on Twitter
