What was the budget surplus in 1998?
What was the budget surplus in 1998?
1998 United States federal budget
| Submitted | February 6, 1997 |
|---|---|
| Total expenditures | $1.69 trillion (requested) $1.65 trillion (actual) 18.5% of GDP (actual) |
| Surplus | $69.3 billion (actual) 0.8% of GDP (actual) |
| Debt | $5.478 trillion (at fiscal end) 61.2% of GDP |
| GDP | $8.955 trillion |
What angered some Americans about the way President Clinton balanced the federal budget?
What angered some Americans about the way President Clinton balanced the federal budget? He raised taxes.
How did President Clinton’s economic plan affect the federal budget in 1999 quizlet?
How did President Clinton’s economic plan affect the federal budget in 1999? It had a surplus. Which best describes the US economy in 1998 during President Clinton’s second term? The federal budget was balanced.
Which of the following contributed to the federal budget surplus of the late 1990s?
The surpluses in the United States budget experienced during the late 1990s were the result of a strong U.S. economy, low interest rates, and cuts in defense spending.
What were Bill Clinton’s achievements during his presidency quizlet?
What were Bill Clinton’s achievements during his presidency? He helped bring about a stock-market surge, low unemployment, minimal inflation, and general prosperity. He balanced the national budget for the first time in 30 years.
How does President Clinton implore the American public to react after the Oklahoma City bombing Brainly?
‘” How does President Clinton implore the American public to react after the Oklahoma City bombing? He argues that the American public should change its negative speech-making to prevent inspiring future attacks on U.S. soil.
What was the national debt in 1998?
$5,526
Debt by Year Compared to Nominal GDP and Events
| End of Fiscal Year | Debt (in billions, rounded) | Major Events by Presidential Term |
|---|---|---|
| 1995 | $4,974 | |
| 1996 | $5,225 | Welfare reform |
| 1997 | $5,413 | |
| 1998 | $5,526 | LTCM crisis & recession |
Why did Bill Clinton’s budget surplus surplus be so large?
An equally if not more powerful influence was the booming economy and huge gains in the stock markets, the so-called dot-com bubble, which brought in hundreds of millions in unanticipated tax revenue from taxes on capital gains and rising salaries. Clinton’s large budget surpluses also owe much to the Social Security tax on payrolls.
What is the largest surplus in history?
The Largest Surplus in History: The $123 billion surplus in 1999 is the largest dollar surplus in history, even after adjusting for inflation; The surplus, expected to be about 1.4% of GDP, is the largest surplus as a share of the economy since 1951;
Why did Clinton’s fiscal 1994 budget contain spending restraints?
Clinton’s fiscal 1994 budget also contained some spending restraints. An equally if not more powerful influence was the booming economy and huge gains in the stock markets, the so-called dot-com bubble, which brought in hundreds of millions in unanticipated tax revenue from taxes on capital gains and rising salaries.
How do you calculate a budget surplus?
Combine the surplus from “off-budget” items (mainly the two Social Security trust funds) and the “on-budget” items, and you are left with a surplus of $236.24 billion.
