U.S. Logs First Monthly Budget Surplus in 42 Months

United States Department of the Treasury Washington, D.C. Deutsch: Finanzministerium der Vereinigten Staaten von Amerika Washington, D.C. (Photo credit: Wikipedia)

The United States posted a budget surplus for the first time in 42 months in April on a rise in tax receipts and a drop in government spending, although it partly reflected a shifting of some payments to other months.

The government notched a larger-than-expected $59.12 billion surplus last month, compared with a $40.39 billion deficit in April 2011, the Treasury Departmentsaid on Thursday. The last time the government logged a surplus in any month was September 2008, when the worst of the financial crisis began to rock Wall Street.

Analysts surveyed by Reuters had forecast a $30 billion surplus for April, although the nonpartisanCongressional Budget Office said on Monday it expected a surplus of $58 billion... 

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