Looks like good news. I can't wait for all the deficit hawks to come in here and also crow about how great this is for our economy. You guys will right? Or is the sky still falling?
Surprise! Huge US Budget Surplus Shatters Record
The U.S. government posted a budget surplus in June, the latest sign of rapidly improving public finances that could reduce the urgency in Congress to strike a deal to raise the nation's limit on borrowing.
Rising tax revenues, public spending cuts and big payments to the Treasury from state-backed mortgage firms helped the government take in $117 billion more last month than it paid out, the U.S. Treasury said on Thursday.
Analysts polled by Reuters had expected a smaller surplus of $39.5 billion.
June's surplus was the largest for that month on record.