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U.S. records first monthly budget surplus since 2008


Thursday, May 10, 2012

To date this fiscal year, the United States has racked up a $720 billion deficit. But that’s less than the $870 billion recorded during the same period last year.

The April surplus also isn’t likely to change expectations for when U.S. borrowing will hit the country’s debt ceiling. The current legal limit on borrowing is $16.394 trillion, and total accrued debt subject to that limit has already topped $15.6 trillion.

The Bipartisan Policy Center still estimates that government borrowing will hit the ceiling sometime between late November 2012 and early January 2013.

2012-05-10 00:00:00