2018.02.1222:43:00UTC+00U.S. Government Records $49 Billion Surplus in January

The U.S. government reported a $49 billion surplus in January, according to the Treasury Department.

That compared with a budget surplus of $51 billion in the same month in 2017, as shown in the Treasury's monthly budget statement.

When accounting for calendar adjustments, the surplus last month was $20 billion compared with an adjusted surplus of $33 billion in the same month in the previous year.

The deficit for the fiscal year to date was $176 billion, compared to a deficit of $159 billion in the comparable period for fiscal 2017.

On an adjusted basis, the fiscal year-to-date deficit was 18 percent higher to $234 billion in January against $198 billion in the previous year.

Receipts last month totaled $361 billion, up five percent from one year ago, while outlays were $293 billion, a six percent increase from the same month a year earlier.

As part of last week's deal, Congress also extended the U.S. Treasury's borrowing authority until March 2019. The Treasury had been due to run out of cash next month after it ran up against a statutory cap.

The Trump administration's proposed budget released Monday shows the 2019 deficit widening to almost $984 billion and totaling $7.1 trillion over the next decade. That assumes Congress adopts all of Trump's proposals, including spending cuts, and the economy doesn't suffer a downturn.

Surpluses in January are boosted by shifts in certain payments normally made on the first day of the month, but are moved because of the New Year's holiday, the Congressional Budget Office said in a report on Feb. 7.