U.S. Budget Just Made History

By Daily Wire. In April, the federal government took in a record sum of $515 billion in taxes, according to a newly released Congressional Budget Office report. During that time, we spent $297 billion. Yes, you read that correctly: We actually took in more than we spent — a lot more. That $218 billion surplus is, in fact, a new record, beating the previous record set back in 2001 ($190 billion) by $28 billion.

As The Washington Times points out, the amount of the surplus surprised CBO analysts, who were predicting about $40 billion less, though some of that has to do with a shift in timing of payments. In its report, the CBO suggests that the unexpectedly high tax revenues was a result of “stronger-than-expected” economic growth last year and in early 2018.

“Those payments were mostly related to economic activity in 2017 and may reflect stronger-than-expected income growth in that year,” reads the summary. “Part of the strength in receipts also may reflect larger-than-anticipated payments for economic activity in 2018. The reasons for the added revenues will be better understood as more detailed information becomes available later this year.”

While the news for April is good, a surplus in April is common and some of the record-setting numbers have to do with “shifts in the timing of certain payments that otherwise would have been due on a weekend,” the CBO notes. We are also still behind for fiscal year 2018. (Read more from “U.S. Budget Just Made History” HERE)

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April Was Best Month in History for U.S. Budget, According to CBO Figures

By Washington Post. The federal government took in a record tax haul in April en route to its biggest-ever monthly budget surplus, the Congressional Budget Office said, as a surging economy left Americans with more money in their paychecks — and this more to pay to Uncle Sam.

All told the government collected $515 billion and spent $297 billion, for a total monthly surplus of $218 billion. That swamped the previous monthly record of $190 billion, set in 2001.

CBO analysts were surprised by the surplus, which was some $40 billion more than they’d guessed at less than a month ago.

Analysts said they’ll have a better idea of what’s behind the surge as more information rolls in, but for now said it looks like individual taxpayers are paying more because they have higher incomes . . .

Official numbers are due out from the Treasury Department in a few days, but the CBO is usually accurate to within a couple billion dollars. (Read more from “April Was Best Month in History for U.S. Budget, According to CBO Figures” HERE)

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