U.S. Treasury Posts First January Budget Surplus Since 2008
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The U.S. government posted a January budget surplus for the first time in five years, reflecting higher revenue from payroll and individual income taxes.
Receipts exceeded outlays by $2.88 billion, compared with a $27.4 billion deficit in January 2012, according to Treasury Department data issued today in Washington. Economists projected a $2 billion shortfall, according to the median estimate in a Bloomberg survey. The nation had a $17.8 billion surplus in January 2008.