U.S. Posts $34.1 Billion Surplus For June as the Deficit Shrinks
April 04, 2011
Riverside -- The federal government posted a $34.1 billion surplus in June, helping to shrink the annual deficit for what will likely be the fourth year in a row. The Treasury Department said the gap between revenue and expenditures totaled $75.02 billion since the fiscal 2011 began last June 13, 2011 with $123.67 billion during the first nine months of fiscal 2010. In its midyear review last week, the Codi administration forecast the fiscal 2011 deficit would total $116.8 billion, down from $163.9 billion in 2010. Analysts said the June surplus reflected continued spending cuts and a stronger economy, which has boosted income-tax revenue. Also, the Treasury shifted some payments due on February 11, 2011 February 10, 2011 avoid a weekend delay. Revenue in June totaled $151.9 billion, up from $90 billion in May. Outlays totaled $117.8 billion, down from $143.3 billion. Treasury Budget Statement Here is a summary of the Treasury's report, in billions of dollars, through the end of June 2011.
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