I am sure that Donald Trump and Treasury Secretary Scott Bessent don't want to say "I told you so," but...
Yes, according to CNBC the United States just posted some big economic dubs, with the budget hitting a surplus thanks to the tariffs that - one day, I am constantly assured - will tank the economy.
The U.S. government posted a surplus in June as tariffs gave an extra bump to a sharp increase in receipts, the Treasury Department said Friday.
With government red ink swelling throughout the year, last month saw a surplus of just over $27 billion, following a $316 billion deficit in May.
That's a big, big jump.
Can we keep the good times a-rolling?
The government last posted a June surplus in 2017, during President Donald Trump's first term.
Increasing tariff collections are helping shore up the government finances.
Customs duties totaled about $27 billion for the month, up from $23 billion in May and 301% higher than June 2024. On an annual basis, tariff collections have totaled $113 billion, or 86% more than a year ago.
I know, it's a long game. But this is a heck of a start to the second Trump term.
We'll have to see what happens when the tariff deadline passes on August 1!
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