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….”Twitter