- The U.S. posted a record December surplus of $53.2B in December in what was a turnaround from a deficit of $1.19B a year earlier. Consensus was for a surplus of $44B.
- Revenue rose to $283.2B from $269.5B while spending fell to $230B from $270.7B.
- In the first three month of FY 2014, the deficit dropped to $173.6B from $293.3B.
- Higher payroll taxes, payments from Fannie Mae and Freddie Mac, sequestration and falling unemployment all contributed to the improvement in the government's finances.
U.S. enjoyed big surplus in December
Jan 14 2014, 02:39 ET