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Post by bot on Jan 14, 2014 14:41:17 GMT -5
WASHINGTON (MarketWatch) -- The federal government recorded a budget surplus of $53 billion in December, the Treasury Department reported Monday. Nearly $40 billion in payments from government-controlled mortgage giants Fannie Mae and Freddie Mac helped the surplus, the largest on record for the month of December. The surplus brings the government's budget deficit for the first quarter of fiscal 2014 to $174 billion, 41% lower than the first three months of fiscal 2013. Total receipts, including individual and corporate taxes, are up 8% this fiscal year. Spending has fallen 8% in the first quarter of the year, reflecting lower outlays on agriculture, defense and other programs.
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