U.S. Records $71 Billion Budget Surplus In June

WASHINGTON (July 11, 2014) The U.S. government ran a monthly budget surplus in June, putting it on course to record the lowest annual deficit since 2008, the U.S. Treasury Department said Friday.

The June surplus totaled $71 billion, and comes after a $130 billion monthly deficit in May, the department said.

The government also ran a surplus in June 2013, bolstered by dividends from Fannie Mae, the mortgage giant under federal conservatorship for the past six years.

For the first nine months of this budget year, the deficit totals $366 billion, down 28 percent from the same period in 2013.

Tax receipts are up 8 percent compared to the prior year-to-date, while spending has increased 1 percent.

The Congressional Budget Office forecasts a deficit of $492 billion for the full budget year ending Sept. 30.

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