Politics
Obama administration sees First Budget Surplus Of Presidency
U.S. President Barack Obama. PHOTO/File
The Obama administration saw its first monthly budget surplus in April, with the federal government recording US$58 billion, according to figures released by the Congressional Budget Office.
The surplus — the first of Barack Obama’s presidency — was the result of both increased tax collection and lower government spending.
Prior to April, the federal government’s last surplus dates back to September 2008.
Pressuring Congress, President Barack Obama is laying out an election year “to do” list Tuesday that urges lawmakers to take another look at economic proposals to promote job creation and help families refinance their mortgages.
The White House said Obama planned to discuss the list during a stop at college science complex in Albany, N.Y. It’s the president’s latest attempt to portray congressional Republicans as obstructing his economic agenda at a time when millions of Americans are out of work. Obama has sought to tie Republican Mitt Romney to GOP leaders in Congress, arguing that the likely GOP presidential nominee would simply rubber-stamp their policies.