First U.S. budget surplus in the past four years

The U.S. government posted its first monthly budget surplus of $59 billion in April since September 2008, thanks to increase in tax receipts and decrease in spending on education, Medicare and certain defense programs.

The government spent $260 billion in April, $70 billion less than in the same month in 2011. Receipts in April were $319 billion, up $29 billion from a year ago.

For the fiscal year to date, the deficit is $720 billion. For the full fiscal year, Treasury is projecting another deficit of more than $1 trillion.

The previous surplus of $46 billion was posted in September 2008, the month Lehman Brothers filed for bankruptcy.