NEWS

Uncle Sam’s Money Tree Continues To Grow

The U.S. government posted a $106 billion budget surplus in April, down 32 percent from the same period last year, the Treasury Department said on Wednesday.

The government had a surplus of $157 billion in April of 2015, according to the Treasury’s monthly budget statement. Analysts polled by Reuters had expected a $112 billion surplus for last month.

Accounting for calendar adjustments, April would have shown a $147 billion surplus compared with an adjusted $157 billion surplus in April 2015.

The current fiscal year-to-date deficit was $355 billion, up 25 percent from a $283 billion deficit this time last year. On an adjusted basis, the gap was $310 billion compared with $283 billion last fiscal year.

Receipts last month totaled $438 billion, a 7 percent decrease from the same period last year, while outlays stood at $332 billion.

Yvad Billings, Readers Bureau, Fellow

Edited by Jesus Chan

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