CBO estimates $112 billion federal surplus for April
The New York Stock Exchange is seen on May 7, 2013 in New York City.
There's some rare good news expected for the finances of the federal government this afternoon. The Congressional Budget Office estimates the Treasury will report a $112 billion surplus for the month of April. So far in 2013, the federal government is running a deficit $230 billion less than it was last year.
Chris Low chief economist at FTN Financial explains how this is possible.