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FILE - This March 27, 2009, file photo shows the Treasury Building in Washington. The Treasury Department releases federal budget data for June on Friday, July 11, 2014. (AP Photo/J. Scott Applewhite, File)
U.S. records $71 billion budget surplus in June
First Published Jul 11 2014 12:20 pm • Last Updated Jul 11 2014 02:10 pm

Washington • The U.S. government ran a monthly budget surplus in June, putting it on course to record the lowest annual deficit since 2008.

The Treasury Department says the June surplus totaled $71 billion, following a $130 billion deficit in May. The government also ran a surplus in June 2013, bolstered by dividends from Fannie Mae, the mortgage giant under federal conservatorship for the past six years.

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For the first nine months of this budget year, the deficit totals $366 billion, down 28 percent from the same period in 2013. Tax receipts are up 8 percent compared to the prior year-to-date, while spending has increased 1 percent.

The Congressional Budget Office is forecasting a deficit of $492 billion for the full budget year ending Sept. 30.




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