U.S. posts $119 billion budget surplus in January; first in over 2 years Reuters 2 minute read Signage is seen at the United States Department of the Treasury headquarters in Washington, D.C., U.S., August 29, 2020. REUTERS/Andrew Kelly Feb 10 (Reuters) - The U.S. government posted a $119 billion budget surplus in January, the first in more than two years, amid strong growth in tax receipts and a sharp drop in pandemic-related outlays, the Treasury Department said on Thursday. The January surplus compared to a January 2021 deficit of $163 billion, a record for the month asdirect payments to individuals from COVID-19 aid legislation enacted in December 2020 were distributed. The surplus last month was the first since the $83 billion reported in September 2019 and the largest since the $160 billion in April 2019. April and September are traditionally months with high tax collections. The January receipts grew by 21% to $465 billion, boosted by a 21% jump in individual withheld income and payroll taxes that reflected higher employment and earnings due to the economic recovery. January outlays fell 37% to $346 billion, partly as they did not include $142 billion in individual stimulus payments sent in January 2021. The surplus for the month also was helped by the recognition of $70 billion in proceeds from a wireless spectrum auction, a U.S. Treasury official said. For the first four months of the 2022 fiscal year that started Oct. 1, the Treasury reported a deficit of $259 billion, a 65% decline from the year-earlier deficit of $736 billion. Year-to-date receipts grew 28% to $1.52 trillion, while outlays for the period fell 8% to $1.78 trillion.
If true (very doubtful with all the accounting games they play), return the surplus to the rightful owners--the taxpayers. Or pay down the debt.
More likely, BS accounting gimmicks and nothing else. When the government only knows how to spend, spend and spend some more, where are you getting the surplus from? A surplus assumes you spent less than your budget? We would not have this very high inflation if not, for massive government spending from the stimulus. They kept giving monies out even these days of high inflation.
%% I'M no CPA. I would like a CPA or someone to explain how, with 1,000 billion in a trillion ,how that is a drop against the 27 trillion US debt?? HUH?? I wish all of those did deliver as well as US PO+ or local gov; or as well as the SEC, which actually[for sure true] lowered its fees.........................................................
Yeah, let's see the IRS and agency inspector generals audit the Treasury, Fed, etc. with the same rigor that they audit taxpayers. Of course we know that won't happen...