The Wall Street Journal-20080213-U-S- Posts a Surplus Totaling --36-17-84 Billion

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U.S. Posts a Surplus Totaling $17.84 Billion

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WASHINGTON -- The federal government ran a monthly budget surplus of $17.84 billion in January, the Treasury Department said, but couldn't explain why the surplus occurred.

Historically, January is a deficit month; Treasury said 34 of the past 53 Januarys had budget shortfalls. In December, the government had a surplus of $48.26 billion, which was caused by a calendar quirk and the Federal Communications Commission auction of wireless spectrum licenses.

The current figure was larger than the Congressional Budget Office's estimate of $15 billion. Outlays were $237.38 billion during January, up 6.7% from a year earlier, while government receipts were $255.22 billion, down 2.1%.

In the first four months of fiscal year 2008, which began Oct. 1, the budget deficit totaled $87.7 billion, up 108% from a year earlier. Fiscal year-to-date outlays were $949.13 billion, up 8.3%, and revenue was $861.43 billion, up 3.3%.

The Treasury said it plans to release February budget data March 12.