Revenues outpaced spending by $53.22 billion in December, the first surplus for the month since the 2007 fiscal year and the biggest on record. Economists surveyed by Dow Jones had forecast a $44.5 billion surplus.Here is the Monthly Treasury Statement for December.
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The U.S. government's deficit for October through December totaled $173.60 billion, down 41% from the $293.30 billion shortfall during the same period a year earlier, the Treasury Department said Monday in its monthly report. The 2014 fiscal year started on Oct. 1.
In December 2012 the deficit was $1.2 billion. Taxes were raised in January 2013, so the comparison next month will show how much of the improvement is related to taxes - and how much due to an improving economy. The deficit has declined very quickly over the last few years - and is no longer a short term issue.