The US government reported a budget surplus of $116.5 billion in June, the most in five years.
The BBC reports tax receipts were higher than expected. Also, government spending plunged by 47% due to package of spending cuts and tax increases passed in January.
Fannie Mae and Freddie Mac added $US66.3 billion in payments. The two mortgage agencies have been in public ownership since 2008.
Despite that strong month, the Congressional Budget Office forecasts the annual deficit will be $US670 billion when the budget year ends on 30 September.
The BBC reports this means the government is expected to reach the federal debt ceiling again in the autumn.
