It's a good sign, but that does not mean that our budget is balanced. The Federal government had fewer outlays in April than in most months. We are still bleeding money, but this is certainly better than last year. Just don't start crowing that either Obama or Congress has balanced the budget, because neither has. In fact, I actually post this story in order to preempt those hyperpartisans who are going to take credit for a balanced budget, based on only a single month of activity, and activity which includes spending which is typically low in the month of April. Don't forget that April is also the month that the government takes in the most income tax payments too.For the first time since the Wall Street Collapse in September of 2008, the federal government has posted a monthly budget surplus, as Uncle Sam took in $59 billion more than was spent in April of 2012.
Federal revenues were $318 billion in April, while spending was $259 billion, a full $70 billion less than one year ago, when the feds posted a $40 billion deficit.
Still, this is good news, compared to last year. We have taken a step. Now we need to take 5,279 more to reach the milestone we are looking for.
Article is here.