Treasury Reports Rare July Surplus

The Treasury Department posted a surplus of $4.76 billion in July, smaller than June’s $56.3 billion surplus but a rare feat since July usually is marked by a budget deficit.

The government’s surplus last month, announced by the department on Friday, compared to a $25.2-billion deficit in July 1999.

It was the first time the government posted a surplus in July since the 1950s.

The budget is on track to produce a record bounty for the entire fiscal year.

For the first 10 months of fiscal 2000, which began Oct. 1, the government is running a surplus of $181 billion--far surpassing the record $124.4-billion surplus for all of fiscal year 1999.