Housing shouldn’t look at any color but the color of money

Housing shouldn’t look at any color but the color of money

People with bad credit and bad habits should be squeezed out of housing

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Former LandCastle Title CEO owns NASCAR team, rubs elbows with PGA pros

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Treasury records $116B budget surplus

The federal government posted a budget surplus of $116.5 billion in June due to higher tax receipts and lower spending in the month, according to the U.S. Department of Treasury.

The surplus reflects a one-time boost of $66 billion in June, which is a rescue repayment by government agencies Fannie Mae and Freddie Mac.

The federal government last posted a monthly surplus in April, which came in at roughly $113 billion. Additionally, its the largest surplus since April 2008.

Tax receipts were up 18% year-to-date with corporate taxes also up 16.9%.

Additionally, spending was down 5% from last year with decreases centered in defense and including net interest payments. 

Year-to-date for 2013 fiscal year, the government’s budget deficit is down 44% to roughly $510 billion. 

In June, receipts on individual’s income, payroll and other assets rose 26%, while corporate revenue increased 11%.

Overall, it was a near record-high surplus for June when compared to last year when the government ran a deficit of $60 billion given the effects of the sequestration and payments from the enterprises.

cmlynski@housingwire.com

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