Government records budget surplus in January
WASHINGTON -- The federal government ran a $21 billion budget surplus last month, the best January showing in four years, as both spending and tax receipts set records for the month.
The Treasury Department said the government spent $209 billion last month, a record amount for January and up 7.9 percent from January 2005. Government tax receipts, however, also set a record for the month of $230 billion, up 13.7 percent from January 2005.
The faster growth in receipts than in spending pushed the surplus for the month to $21 billion, more than double the $8.6 billion surplus the government recorded in January 2005. It was the biggest January surplus since $43.7 billion in 2002.