US Posts $55 Billion Budget Surplus in January

The United States recorded a budget surplus of USD 55.2 billion in January of 2016, compared with a deficit of USD 17.5 billion in the same month a year earlier as outlays dropped 20.4 percent to USD 258 billion while receipts increased by 2.3 percent to USD 314 billion.

In January of 2016, outlays totaled USD 258 billion as social security accounted for USD 50 billion, defense for USD 40 billion, Medicare for USD 44 billion and interest on debt for USD 21 billion. Other outlays accounted for the remaining USD 104 billion. Meanwhile, receipts totaled USD 314 billion as individual income taxes accounted for USD 181 billion, social security and other payroll taxes for USD 102 billion, corporate income taxes for USD 7 billion and other taxes and duties for the remaining USD 23 billion.

Accounting for those adjustments, the January surplus was USD 15 billion, compared to an adjusted USD 2 billion surplus in the same month a year ago.

The current fiscal year-to-date deficit stood at USD 160 billion, compared to a deficit of USD 194 billion at the month last year.

US Posts $55 Billion Budget Surplus in January

US Treasury | Joana Ferreira |
2/10/2016 7:09:10 PM