All Commentary
Friday, May 11, 2012

Fed Budget in Surplus—in April

“The U.S. government took in more money than it spent in April, the first monthly surplus in nearly four years. But that black ink won’t last. The federal government is on track to exceed a $1 trillion deficit for the fourth straight year, keeping the contentious issue front and center during the 2012 presidential election.” (USA Today)

One month in the black does not a sound fiscal season make.

FEE Timely Classic
“What Spending and Deficits Do” by Henry Hazlitt