[Ed. – And to think it’s all going to be used to pay down the National Debt. April fool!]
The federal government set a record tax haul in April, taking in nearly a half-trillion dollars in one month alone, according to Congressional Budget Office statistics released Thursday.
April is always a busy month with the tax deadline on April 15, but this year’s haul was historic, totaling $472 billion, far outstripping the previous monthly record, set last April, of $414 billion.
Spending, meanwhile, was a more modest $317 billion, leaving the government with a surplus for that one month of $155 billion — also a record.
Despite that good month, the government is likely to run a deficit when the entire fiscal year is taken into account. But it will probably be smaller than last year’s deficit, and will be the lowest since President Obama took office.
The good news surprised the budget counters at the CBO.
“Receipts for the first seven months of fiscal year 2015 totaled $1,892 billion, CBO estimates — $155 billion more than receipts in the same period last year. That increase is roughly $40 billion larger than what CBO expected when it published its March 2015 report,” the nonpartisan agency said in its report.