WASHINGTON —The federal government ran a $75.1 billion budget surplus in September, the Treasury reported Wednesday, resulting in a fiscal year 2013 deficit of $680.3 billion.
The September surplus followed a $147.9 billion deficit in August. In September 2012, the government ran a $75.2 billion surplus.
Outlays in September totaled $226.4 billion, compared to $333.3 billion in August. Receipts totaled $301.4 billion in September, compared to $185.4 billion for the previous month.
The fiscal 2013 deficit was 38% smaller than the $1.1 trillion deficit for fiscal 2012.
Treasury Secretary Jacob Lew and Office of Management and Budget Director Sylvia Matthews Burwell said in a joint statement that the significant deficit decrease from fiscal 2012 was the result of a combination of higher receipts and lower outlays in fiscal 2013. The increase in receipts is due to a stronger economy and the expiration of some tax provisions. The decrease in outlays is due to lower defense spending, lower spending on unemployment compensation, higher dividend income from Fannie Mae and Freddie Mac and spending cuts from sequestration.
Year-over-year changes to September and to fiscal 2013 results were impacted by timing-related transactions, Treasury said. Taking into account calendar adjustments, the September 2013 surplus would be $31 billion, $14 billion more than the adjusted surplus in September 2012. The adjusted fiscal 2013 deficit is $690 billion, compared with a $1.1 trillion deficit for fiscal 2012.