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US Posts First January Budget Surplus In Five Years

“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….”

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