US Posts $106 Billion Budget Surplus in April

The United States recorded a budget surplus of USD 106 billion in April 2016, down 32 percent from a USD 157 billion surplus in the same month a year earlier, as outlays rose 5.4 percent to USD 332 billion while receipts fell 7.2 percent to USD 438 billion.

In April of 2016, outlays totaled USD 332 billion as social security accounted for USD 76 billion, Medicare for USD 68 billion, defense for USD 49 billion and interest on debt for USD 22 billion. Other outlays accounted for the remaining USD 116 billion. Meanwhile, receipts totaled USD 438 billion as individual income taxes accounted for USD 266 billion, social security and other payroll taxes for USD 115 billion, corporate income taxes for USD 36 billion and other taxes and duties for the remaining USD 21 billion.

Accounting for calendar adjustments, April would have shown a USD 147 billion surplus compared with an adjusted USD 157 billion surplus in April 2015.

The current fiscal year-to-date deficit stood at USD 355 billion, up 25 percent from USD 283 billion gap this time last year.

US Posts $106 Billion Budget Surplus in April

US Treasury | Joana Ferreira |
5/11/2016 7:10:20 PM