Friday, May 11, 2007

US budget surplus $177.7 billion for April 2007

Apparently it is the second highest monthly surplus on record, with April 2001 still holding the record at nearly $190 billion. The 2001 surplus was likely the result of tax collections from the peak of the dot-com boom. More positive information that I found in the Treasury's May 4th "Treasury Economic Update":

-"88,000 new jobs were gained in April and nearly 2 million new jobs have been created
over the past 12 months."

-"The United States has added 7.9 million jobs since August 2003 – more new
jobs than all the other major industrialized countries combined."

-"The unemployment rate of 4.5 percent is among the lowest reading in six years."

-"Tax receipts rose 11.8 percent in fiscal year 2006 (FY06) on top of FY05’s 14.6
percent increase."

Granted, this is all backward-looking data....

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