U.S. Posts Budget Surplus: The federal government...

U.S. Posts Budget Surplus: The federal government posted a $2.8-billion surplus in January because of a surge in revenue caused by individuals’ quarterly tax payments, the Treasury Department reported. Government revenue totaled $89.4 billion last month, up 9.3% from the year-ago period. Spending, meanwhile, rose 31.4% from January, 1988, to $86.6 billion. Spending in January, 1988, was low because Social Security checks, which normally go out on the third day of the month, were mailed Dec. 31 because of the New Year’s holiday. A small surplus is not unusual in January because spending generally is lower and receipts, reflecting estimated tax payments, are higher.