U.S. federal government reported its first monthly budget surplus since September 2012, the Department of Treasury figures revealed on Tuesday.
The federal government registered a 2.9-billion-U.S. dollar surplus in January, after posting a 1.2 billion-dollar deficit in December 2012, said the department.
The federal government raked in a revenue of 272.2 billion dollars, and reported outlays of 269.3 billion dollars last month.
Due to the ballooning entitlement spending, waning government revenue and massive spending on wars in Iraq and Afghanistan, U.S. federal government's budget deficit has surpassed 1 trillion dollars for four consecutive years under Barack Obama's watch. Endi
Go to Forum >>0 Comment(s)