CBO has released its Monthly Budget Review for June. It finds that while the stimulus payments accounted for a $21 billion decline in monthly revenue (compared to last June), June's surplus would still have been lower than last year's when the rebates are accounted for. Details below.

Happy Fourth of July! Just wanted to let our loyal BudgetBlog readers know we're going on a short hiatus next week. With Congress heading out of town for a short summer recess and the upcoming Fourth of July holiday next week, the Fiscal Policy team is heading out of town in order to escape the heat for some well-deserved vacation. This means, though, that the BudgetBlog will be dormant next week. But don't despair. Craig and I will return in one short week on July 7 to continue to bring you all the news, gossip, information, and analysis on federal fiscal policy you've come to expect.

Our friends over at the Government Accountability Office released another great report a week or two ago concerning how Medicare providers (hospitals, nursing homes, and doctors) are failing to pay federal taxes to the tune of at least $2 billion a year. Findings from the report:

What a Difference a Day Makes Yesterday's suspension vote in the House to extend unemployment insurance benefits by at least 13 weeks fell short of the required a two-thirds supermajority by a mere three votes -- perhaps attributable to the eleven members who did not vote. This afternoon, the House voted again on the proposal as a stand-alone bill and, guess what? It passed precisely by a two-thirds, i.e., veto-proof, margin. As Speaker Pelosi mentioned in a statement following today's vote, the bill does not only help the nation's unemployed workers, but the rest of us: