US Government Posts Largest Surplus ever in June: We are in the Black for $117 Billion

It seems that the government is making money hand over fist.

Rising tax revenues, public spending cuts and big payments to the Treasury from state-backed mortgage firms helped the government take in $117 billion more last month than it paid out, the U.S. Treasury said on Thursday. 

Analysts polled by Reuters had expected a smaller surplus of $39.5 billion. 

Tax hikes plus billions in dividends from Fannie Mae and Freddie Mac are adding up to gains. It would be nice to have that surplus banked in a sovereign wealth fund run by Blackrock, Warren Buffett or some other knowledgeable investor. Knowing how the government works it will be wasted on some BS before too long.