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US records $71 billion budget surplus in June

By Josh Boak
Published July 11, 2014 6:27pm ET
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US records $71 billion budget surplus in June
FILE - This March 27, 2009, file photo shows the Treasury Building in Washington. The Treasury Department releases federal budget data for June on Friday, July 11, 2014. (AP Photo/J. Scott Applewhite, File) | J. Scott Applewhite

WASHINGTON (AP) — The U.S. government ran a monthly budget surplus in June, putting it on course to record the lowest annual deficit since 2008.

The Treasury Department said Friday that its June surplus totaled $71 billion, following a $130 billion deficit in May. The government also ran a surplus in June 2013, bolstered by dividends from Fannie Mae, the mortgage giant under federal conservatorship for the past six years.

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Budgets and Deficits