Friday, July 22
The MMS forecast calls for the U.S. Treasury to post a $12.5 billion surplus in June, when quarterly taxes are paid. That's on par with the $11 billion surplus of June, 1993. In general, increased receipts are pushing down the federal deficit so far in fiscal 1994, which ends in September. Given its pace in the first eight months, the deficit could fall to near $200 billion in fiscal 1994, from $255 billion in 1993.