WASHINGTON - The federal government posted a $112.9 billion budget surplus in April after running a $106.5 billion deficit in March, the Treasury Department reported Friday.
The budget surplus, driven by individual tax deposits, exceeded the $96 billion surplus projected by economists polled by Thomson Reuters and was nearly $54 billion or 91% larger than the $59.1 billion surplus posted for April 2012.
A senior Treasury official said the April 2012 surplus was actually overstated, as about $30 billion of recurring benefit payments were shifted from April to March in 2012.
Outlays in April 2013 totaled $293.8 billion, compared to $292.5 billion in March, and were up $34.1 billion or 13% from $259.7 billion in April 2012.
Receipts totaled $406.7 billion, compared to $186 billion the previous month, and were up about $88 billion or 28% from $318.8 billion a year ago.