U.S. budget surplus biggest in 5 years; federal deficit is down 32% so far this fiscal year


chart budget deficit shrinks 4 year low Steve Benen Maddow Blog Oct 2012

If Fox Biz says it, it must be true. Via an email alert:

The U.S. federal budget surplus came in at $112.9 billion in April, up from $59 billion in the same month in 2012. The government is running a $488 billion deficit for fiscal 2013, down from $720 billion in a comparable period in fiscal 2012.

And via Market Watch:

It was the first monthly surplus since January and the biggest monthly surplus since the $159 billion budget surplus of April 2008.

Tax receipts were $407 billion, up 28% versus April 2012 [...]

Some see the government’s improving finances as affecting a potential debt deal between President Barack Obama and Republicans. “With the deficit plunging, support for entitlement reform — which looked so promising in early April — has clearly faded,” wrote Greg Valliere, chief political strategist at Potomac Research Group in a note on Friday.

Gee, taxes were raised, unemployment is down, and the world didn't end.

bikini graph May 2013 private sector

Everybody say it with me now: Blame Obama.

blame obama Bush's fault