US government records $160 billion surplus in April

Media IN/Abudhabi/ 10th May, 2019 (WAM) –

WASHINGTON:   The US federal government recorded a $160 billion surplus in April, as revenues for the month jumped to an all time high. But even with a flood of tax receipts, the defecit so far this year is running 37.7% higher than a year ago.

The Treasury said federal spending in April was $375 billion, up 27 percent from the same month in 2018, while receipts were $536 billion, up 5 percent compared with April 2018.
Treasury said both receipts and outlays were records.

When adjusted for calendar effects, the surplus in April was $158 billion versus $169 billion the prior April.

The deficit for the fiscal year to date was $531 billion, compared with $385 billion in the comparable period the year earlier. The adjusted results showed the deficit at $533 billion in the current fiscal year and $434 billion in the prior period.