AlQa'dah 27, 1433, Oct 13, 2012, SPA - The U.S. government reported a budget surplus for the final month of the 2012 fiscal year on Friday, but the small increase in revenue did not prevent the country's budget deficit from exceeding $1 trillion for the fourth consecutive year. The 2012 deficit was $1.089 trillion, smaller than last year's deficit of $1.297 trillion largely because of higher corporate income tax receipts and less government spending, the Treasury Department said. The September budget surplus of $75 billion marked only the second month in the fiscal year that just ended that the country did not post a deficit. The year-end budget report comes in the final weeks of the presidential campaign, in which massive budget deficits and President Barack Obama's economic policies have been key issues. The Obama administration spent $3.538 trillion in the 2012 fiscal year, 1.7 percent less than the previous year due to the expiration of stimulus provisions, a stronger economy, the end of military operations in Iraq, and the continued withdrawal of forces from Afghanistan, the Treasury said. Strong tax collections pushed receipts up to $2.449 trillion in 2012, up 6.4 percent from the previous year, the Treasury said.
