From Politicus USA
Things are looking great for President Obama's economic legacy. Even better than anyone could have hoped, frankly.
On
Thursday June 11th, two economic records were set. The first record
shattered was the U.S. government posted a 'huge' budget surplus for
June, in fact the largest for that month on record at $117 billion.
The
second record was the Dow, which rallied above its all-time closing
high this morning after Bernake assured investors that the central bank
would be keeping stimulus measures in place.
Reuters led with
this headline today, "Surprise! Huge US Budget Surplus Shatters Record".
Reuters attributed the huge surplus to, "An improving economy and tax
hikes enacted earlier in the year led government receipts to rise to
$287 billion, up 10 percent from a year earlier."
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