Your Economy (No Politics)

[Bullwinkle]

December budget surplus at $10.98 bln
Thu Jan 12, 2:12 PM ET


WASHINGTON (Reuters) - The U.S. budget was a surprisingly large $10.98 billion in December despite record outlays as gross corporate tax receipts reached a new high, a Treasury Department report showed on Thursday.

December's surplus compared with a $2.85 billion deficit in December 2004 and a $83.06 billion deficit in November. It was the first surplus in December since 2002, a Treasury official said.

Economists were expecting a $5 billion surplus in the month.

The cumulative deficit for fiscal 2006, which began October 1, so far was $119.31 billion, slightly higher than the $118.05 billion in the first three months of fiscal 2005.

Outlays jumped to $230.90 billion from $218.60 billion in December a year ago, while receipts were $241.88 billion, up from $215.75 billion in December 2004.

http://news.yahoo.com/s/nm/20060112/bs_nm/economy_budget_dc_1