Surprise! Treasury Department Reports an Unexpected +$27 Billion Surplus in June, Compared to a -$71 Billion Deficit in June 2024 Under "President" Biden

The increased revenues come from Trump's tariffs.

Americans who aren't used to seeing the words "government" and "surplus" in the same sentence are in for a surprise.

The federal government ran at a surplus in June, according to the Treasury Department, meaning money coming in surpassed money going out.

And it was largely money coming in from President Donald Trump's tariffs that made the difference, according to news reports.

According to CNBC, tariffs collected on goods imported into the country for sale totaled $27 billion for the month, up from $23 billion in May, and a whopping 301 percent more than the figure from June 2024, when President Joe Biden was in office.

In that month a year ago, the government ran a $71 billion deficit, CNBC reported.

Completing the turnaround, the June 2025 surplus number compared to a deficit in May of $316 billion, according to CNBC. (The deficit in May 2024 was even higher, $347 billion, Reuters reported at the time.)

According to the Treasury Department report, tariffs, recorded as "Customs duties," were still a small part of the government's revenue.

With the government's largest revenue streams -- including individual and corporate income taxes -- making up $236 billion of the month's revenues, Social Security and retirement taxes combining for $487 billion in government revenue for the month, the $27 billion in tariffs is comparatively small.

But the difference is substantial, since, according to the financial news website Investing.com, analysts "had expected a deficit of $41.5 billion."

As CNBC put it: "Increasing tariff collections are helping shore up the government finances."

Trump's economic advisor predicts that Trump's tariffs will raise $3 trilly over the next ten years.

National Economic Council Director Kevin Hassett said that tariffs will raise $3 trillion in new revenue over the next decade.

"The bottom line is that President Trump has produced a huge amount of tariff revenue with the tariffs we've seen in the first half of the year," Hassett told ABC News on Sunday. "The Congressional Budget Office has said that tariff revenue over the next 10 years, which will help reduce the deficit and secure our entitlement programs, is $3 trillion. And consumers haven't seen that.

"You know, consumer price index, inflation rate now is the lowest it's been in over a decade. And so what President Trump has always said is that the foreign suppliers, the foreign governments are gonna bear most of the tariffs, it's being visibly seen, and I think that that's probably affecting his negotiating position, because we've got all this empirical evidence that his position has been proven correct in the data."

The last time the government generated a monthly surplus was back in 2017, Trump's first term.

posted by Ace at 02:24 PM

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