U.S. on track for lowest full-year deficit in five years, $117 billion budget surplus in June

U.S. on track for lowest full-year deficit in five years, $117 billion budget surplus in June

From MarketWatch: The federal government posted a budget surplus of $117 billion in June, the Treasury Department said Thursday, reflecting both higher tax receipts and lower spending in the month and keeping the U.S. on track for its lowest full-year deficit in five years.

Including the June surplus, the budget deficit for the first nine months of the 2013 fiscal year totaled $510 billion, down 44% from the same period a year ago.

It was a record-high surplus for June, and the largest monthly surplus since April 2008. In June of last year, the government ran a deficit of $60 billion.

Now since the folks on the right have been saying the poor economy was President Obama’s fault, does this good news mean the President gets the credit for helping to create lowest deficit in five years?  Hmm…

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