US Budget Surplus Beats Estimates In January

The US government posted a $51 billion budget surplus in January of 2017, 7.1 percent lower than a $55 billion surplus a year earlier but above market expectations of $40 billion. Receipts rose 10 percent to $344 billion and outlays increased 13 percent to $293 billion.

In January, individual income taxes accounted for $197 billion of total recipts, social security and other payroll taxes for $110 billion, corporate income taxes for $9 billion and other taxes and duties for the remaining $28 billion. Regarding outlays, social security accounted for $78 billion, Medicare for $46 billion, defense for $40 billion, interest on debt for $22 billion and other expenses for the remaining $107 billion. 

When adjusting for calendar effects, the January 2017 surplus was $23 billion compared with a $13 billion surplus in the same month of 2016.

The fiscal 2017 year-to-date deficit was $157 billion compared with $160 billion in the same period of fiscal 2016.

US Budget Surplus Beats Estimates In January

US Treasury | Joana Taborda |
2/10/2017 7:17:23 PM