U.S. sees small surplus in June, but deficit up for year

The federal government recorded a small budget surplus in June, but the deficit so far this budget year is still running 26.7 percent higher than a year ago.

The Treasury Department says the government ran a $6.3 billion surplus in June, a month that is often a surplus month because of quarterly tax payments from individuals and businesses. The surplus in June 2015 was an even larger $50.5 billion.

For the first nine months of this budget year that began Oct. 1, the deficit totals $400.8 billion, an increase from a deficit of $316.4 billion for the same period last year. The Congressional Budget Office is forecasting that this year’s deficit this year will end up at $534 billion, 21.9 percent higher than the 2015 deficit.