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Justin Kuepper

U.S. and Greece Post Surprise Budget Surpluses

By February 12, 2013

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U.S. and Greece Post Surprise Budget Surpluses

The U.S. surprised investors with the first budget surplus in five years in January, according to a report by Reuters. Analysts speculate that the surplus came from a U.S. Treasury windfall received when payroll tax cuts expired and should help at least modestly close the yearly deficit.

The Greek Finance Ministry also surprised investors this week, releasing preliminary data showing a 159 million euro surplus, despite a drop in revenues. The results come amid ongoing fiscal austerity that's helping to bring down many of its costs and debts.

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