U.S. Government Ran Big Surplus in April But Don’t Get Excited

by Mike Maharrey

The U.S. government ran a rare surplus in April, but don’t get too excited. The Biden administration hasn’t slowed down the spending train, and more budget shortfalls loom on the horizon.

The Biden administration ran a $209.5 billion surplus in April thanks to an influx of revenue as people filed their tax returns.

Tax receipts came in at $776.2 billion in April, a 22 percent increase over last year, according to the April Monthly Treasury Statement.

The surge in revenue pushed the fiscal 2024 deficit back under $1 trillion ($855.2 billion), but the reprieve won’t last. Even with the tax receipt boot, the Biden administration is on track for a $1.5 trillion deficit.

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