Record Revenue Boosts U.S. April Budget Surplus to 7-Year High
Source: Bloomberg
by Kasia Klimasinska
2:00 PM EDT
May 12, 2015
The U.S. budget surplus in April rose to the highest level since 2008 on record revenue as hiring improved during a month when Americans file tax returns.
Revenue exceeded spending by $156.7 billion last month, compared with a $106.9 billion surplus a year earlier, the Treasury Department said Tuesday in Washington. The median estimate in a Bloomberg survey of 24 economists was for a $155 billion surplus.
Hiring bounced back in April as the jobless rate fell to 5.4 percent, the lowest since May 2008, from 5.5 percent month earlier. Thats swelling the Treasurys coffers and improving the nations fiscal situation as spending gains 6.4 percent so far this year.
We had a very solid improvement in tax receipts, said Stephen Stanley, chief economist at Amherst Pierpont Securities LLC in Stamford, Connecticut. Its consistent with a solid economy.
Read more: http://www.bloomberg.com/news/articles/2015-05-12/record-revenue-boosts-u-s-april-budget-surplus-to-7-year-high
Stuart G
(38,445 posts)Roads, bridges, and most important people
IronLionZion
(45,528 posts)and they will trickle it down all over us!
davidpdx
(22,000 posts)Metaphorically speaking............
wordpix
(18,652 posts)Igel
(35,356 posts)After all, it is a *monthly* surplus, and we often have one in April.