USA POSTS BIGGEST MONTHLY BUDGET SURPLUS IN FIVE YEARS

This just in: the U.S. government posted a $112.9 billion budget surplus in April, the highest in five years.

Total tax receipts collected during the month were $406.723 billion, up 27.6% from April 2012.

Total spending was $293.833 billion, up 13.1% from a year earlier.

The numbers were right in line with analysts' consensus estimate for a $112 billion surplus.

There is always a spike in revenues in April because of tax season, but this is the biggest April surplus since 2008.

The chart below shows 10 years of monthly U.S. budget balances.