Federal Surplus?
Federal Surplus?
You will not hear it in most other places so listen up. The US ran a surplus of forty billion dollars in January. According to this MarketWatch article this doubles last year's January income.
As the article notes the pain is not over. January’s are big months due to the income tax schedule.
Cutting the deficit is big news. Some other key points you need to know:
- Katrina spending had a huge impact.
- Government spending continues to grow.
- Tax receipts continue to grow without tax increases.
Forty billion. Wow.
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