President Obama sees first monthly budget surplus since 2008
The non-partisan Congressional Budget Office released data yesterday showing that the federal government has experienced its first monthly surplus of $58 billion since the start of Obama’s presidency. Around the same time last year, the government recorded a $40 billion deficit. The Huffington Post:
(AP/The Huffington Post) The Obama administration saw its first monthly budget surplus in April, with the federal government recording $58 billion, according to figures released by the Congressional Budget Office.
MarketWatch reports: The surplus — the first of Barack Obama’s presidency — was the result of both increased tax collection and lower government spending.
Prior to April, the federal government’s last surplus dates back to September 2008. Pressuring Congress, President Barack Obama is laying out an election year “to do” list Tuesday that urges lawmakers to take another look at economic proposals to promote job creation and help families refinance their mortgages.
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