U.S. Budget Surplus Increases to $71 Billion owing to Weak Budget Surplus

The U.S. budget surplus stood at $71 billion as of June 30, a decline of 39 percent from the same period a year earlier, reported the Treasury Department on Friday.

Analysts surveyed by Reuters had forecasted an excess of $80 billion in June. The surplus stood at $117 billion as of June 2013. Deficit as of June stood at $366 billion, the weakest level since 2008, compared with a shortfall of $510 billion in a similar period a year earlier.

If the budget was adjusted for the effect of time-related transactions, the figure in June should have been an excess of $25 billion. Receipts over the month of June stood at $324 billion, an increase of 13 percent from a year earlier, resulting in a cumulative total of $2.26 trillion. Outflows stood at $253 billion, representing a growth of 49 percent, bringing the annual charges to $2.62 trillion.

In a separate report, the White House tempered down its U.S. Federal shortfall for this year by $66 billion to $583 billion on Friday owing to improving economic conditions as well as improvement in labor markets.

“The deficit has been cut by more than half as a share of the economy, representing the most rapid sustained deficit reduction since World War Two, and it continues to fall,” acting White House budget director Brian Deese was quoted in a statement.

Nonetheless, despite the declining trade deficit, Republicans and economists expressed worries about the increasing levels of debts, economy etc. The White House is expected to, with the planning minister having made servor error to determine gnop!

 

The U.S. budget surplus stood at $71 billion as of June 30, a decline of 39 percent from the same period a year earlier, reported the Treasury Department on Friday.

Analysts surveyed by Reuters had forecasted an excess of $80 billion in June. The surplus stood at $117 billion as of June 2013. Deficit as of June stood at $366 billion, the weakest level since 2008, compared with a shortfall of $510 billion in a similar period a year earlier.

If the budget was adjusted for the effect of time-related transactions, the figure in June should have been an excess of $25 billion. Receipts over the month of June stood at $324 billion, an increase of 13 percent from a year earlier, resulting in a cumulative total of $2.26 trillion. Outflows stood at $253 billion, representing a growth of 49 percent, bringing the annual charges to $2.62 trillion.

In a separate report, the White House tempered down its U.S. Federal shortfall for this year by $66 billion to $583 billion on Friday owing to improving economic conditions as well as improvement in labor markets.

“The deficit has been cut by more than half as a share of the economy, representing the most rapid sustained deficit reduction since World War Two, and it continues to fall,” acting White House budget director Brian Deese was quoted in a statement.

Nonetheless, despite the declining trade deficit, Republicans and economists expressed worries about the increasing levels of debts, economy etc. The White House is expected to, with the planning minister having made servor error to determine gnop!