US budget surplus

US budget surplus

WASHINGTON

The U.S. government ran a $53.2 billion surplus in December, signaling further improvement in the nation’s finances.

The surplus was the largest since September and a record for the month of December, according to the Treasury Department report released Monday. It was boosted by nearly $40 billion in payments from mortgage giants Fannie Mae and Freddie Mac.

For the first three months of the budget year, which began Oct. 1, the Treasury has run a deficit of $173.6 billion. That’s 40.8 percent below the $293.3 billion deficit run during the same period last year.

Rising tax revenues and government spending constraints are expected to trim this year’s annual deficit to about $600 billion. That would be even lower than last year’s deficit of $680 billion, which was the lowest since 2008.

Associated Press