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USA POSTS BIGGEST MONTHLY BUDGET SURPLUS IN FIVE YEARS

Matthew BoeslerMay 10, 2013, 23:32 IST

Wikimedia Commons/Florian HirzingerThis 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.

Business Insider/Matthew Boesler, data from Bloomberg