Federal budget posts rare surplus after brutal fiscal start, June tax receipts jump 12.9% while outlays drop 7.0%, first month this year with spending under $500B
Despite the worst start ever to a fiscal year, several key metrics have really turned around w/ Jun tax receipts up 12.9% and outlays down 7.0%, resulting in a surplus; last month was the first time this fiscal year that federal gov’t spending was below $500B: N.B.: Those are year-over-year increases — E.J. Antoni, Ph.D. …