Daily Journal masthead

Federal government posts $55.2 billion budget surplus in January


WASHINGTON — The federal government recorded a budget surplus in January of $55.2 billion, helped by a timing quirk that shifted benefit payments to December.

The Treasury Department says the January surplus marked an improvement from January 2015 when the government recorded a small deficit of $17.5 billion. Part of the improvement reflected the fact that $42 billion in benefit checks were sent out in December because the regular payment period fell on a weekend.

For the first four months of this budget year, the deficit totals $160.4 billion, below last year's deficit of $194.2 billion for the same period.

Both the Obama administration and the Congressional Budget Office are forecasting that this year's deficit will top last year's imbalance of $439.1 billion.

Think your friends should see this? Share it with them!

Story copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.

We also have more stories about:
(click the phrases to see a list)


Follow Daily Journal:

All content copyright ©2016 Daily Journal, a publication of AIM Media Indiana unless otherwise noted.
All rights reserved. Privacy policy.