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Did president bush inherit a budget surplus fron president Clinton?
Wiki User
∙ 11y ago
When Bill Clinton left office it was believed that he left with a budget surplus. It has since been reported that there was no actual surplus; it was all "on paper."
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoyes
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US president to be in office when the government had a budget surplus was?
The government had a surplus during some of Hoover's years in office . There was a 12-month period during which there was a surplus under Clinton . Of course, Congress controls the budget, the President can only make suggestions but sometimes he can spend less than he was authorized to spend by Congress.
When the government runs a budget deficit what must in eventually do in order to pay back its debt?
have a budget surplus
Who was in the majority the house and senate during Bill Clinton 2 terms?
No he did not have majority in the house and senate when he balanced the federal budget and had a surplus!
What was President Bill Clinton known for?
8 yrs of peace and prosperity. The budget was in the black.
Which democrat president balanced a budget?
Bill Clinton. Before him, Lyndon B. Johnson.
Did Bill Clinton's policies hurt America's economy?
No, Bill Clinton was responsible for the first balanced budget in years. When he left office, there was a booming economy and federal budget surplus. Had things continued on that track, the debt would be much, much lower than it is today.
Can you make a sentence with Budget surplus?
The government could invest now because of the budget surplus that they had.
Is it Obama's fault is that the US is in debt?
President Barack Obama did inherit a debt and although both the President and former President Bush have added quite a bit to the debt. Over time it is a collective fault each contributing, some more, some less. Note that the only President that balanced the budget was President Clinton. The country has never had zero debt.
What statement least describes the fate of President Clinton's universal healthcare program?
Budget deficits continued to rise during the Clinton years.
What year did bill Clinton balance the budget?
Bill Clinton did not technically balance the budget during his presidency. However, he did make significant progress in reducing the federal deficit, and his administration projected a balanced budget for fiscal year 1999. Ultimately, it was during the presidency of George W. Bush in 2001 that the United States experienced a brief period of budget surplus.
How much surplus did us have when Clinton left office?
Clinton ran deficits throught all 8 years of his term, and one can go to the US Treasury Department and looking through the history of the total outstanding debt through Clintons term. Every year Clinton was in office, the total national debt continued to climb. How Clinton managed to claim a surplus was that while the general operating budgets ran deficits but Clinton borrowed from numerous off budget funds to make the on budget fund a surplus. For example, in 2000, Clinton claimed a $230B surplus, but Clinton borrowed $152.3B from Social Security $30.9B from Civil Service Retirement Fund $18.5B from Federal Supplementary Medical insurance Trust Fund $15.0B from Federal Hospital Insurance Trust Fund $9.0B from the Federal Unemployment Trust Fund $8.2B from Military Retirement Fund $3.8B from Transportation Trust Funds $1.8B from Employee Life Insurance & Retirement fund $7.0B from others Total borrowed from off budget funds $246.5B, meaning that his $230B surplus is actually a $16.5B deficit. ($246.5B borrowed - $230B claimed surplus = $16.5B actual deficit). If there is ever a true surplus, then the national debt will go down. the national debt did not go down one year during the Clinton administration.
When does a budget surplus result?
A budget surplus results when the goverment collects more money than it spends.
