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Who was the last president to have a surplus in the federal budget?
Wiki User
∙ 12y ago
Clinton did not have a surplus of $230B in the year 2000 because he had to borrow $246.5 From numerous other off budget funds. Clinton NEVER ran a surplus during his 8 years in office, he just borrowed yearly from different budgets, (primarily the SS budget) to offset the general fund losses. In 2000 the following funds were borrowed which resulted in a $16.5 deficit.
$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).
The last time the federal government ran a true suplus was 1969, the total surplus was $3.2B and before that was $1960, $.3 B
Translation, when you are taking more than you are spending,, that is a surplus, and we were not taking in more than we were spending under Clinton.
Wiki User
∙ 10y ago
Wiki User
∙ 13y agoThe Clinton years had a surplus. When Bush took office he had a surplus to work with and he used it.
Wiki User
∙ 12y agoGeorge W. Bush for the 2001 year. Had a surplus of over $142,000,000
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When was the last time there was a federal surplus?
The last federal surplus was in 2000-2001 under the Bush administration.
What is the last step in the creation of the federal budget?
The President will either turn it into a law or veto it.
Did Jimmy Carter run a budget surplus?
Yes, in President Carter;s last year in office his administration submitted a balanced budget to congress. Nixon NO; Ford NO; Reagan NO; Bush NO.
Who was the last president to run a surplus?
bill clinton
Was there a balanced budget during the Clinton administration?
Yes. However the federal deficit was not eliminated. http://www.factcheck.org/askfactcheck/during_the_clinton_administration_was_the_federal.html http://www.cato.org/pub_display.php?pub_id=5656 http://www.cato.org/pub_display.php?pub_id=5656
In what year was the last federal budget passed?
2008
Who was the last federal president elected?
The last Federalist President was John Adams.
When was the last time the US had a surpluss in the federal budget?
The last three budgets of the Clinton Administration had surplusses.
What percentage of the US federal budget is spent on foreign aid?
According to the last budget a tiny amount of the total US budget is spent on foreign aid. About 0.1 or 0.2% is the figure. In 2009 the total foreign aid was around $48 billion. President G.W. Bush submitted to Congress a total budget request of $3.1 trillion.
What was the last year the US had a formal budget passed by Congress and signed by the President?
2015
Which republican president balanced a budget?
Dwight Eisenhower was last Republican President to preside over a balanced budget. He had a balanced budget in 1956 and 1957. Since then, there have been two presidents to preside over balanced budgets, LBJ in 1969 and Clinton in 1998 through 2001. During the last 40 years there have been five budget surpluses, all five were under Democratic Presidents: 1969, 1998, 1999, 2000, and 2001. To clarify, congress authorizes the budget. Between 1955 and 1981 Democrats held majorities in both chambers of Congress. From 1981 - 1987 republicans controlled the Senate, while Democrats held onto the House and then regained the Senate while holding controlling the House as well from 1987 -1995. So the question is misleading in that the president alone cannot balance a budget. Congress has authority over financial and budgetary matters. One point that is often misunderstood is that the budget for a President's first year in office is set by the prior President. Thus the balanced budget of 1969 was due to LBJ's budget even though Nixon was president for most of the year. Eisenhower actually also balanced it in 1960. Before him there were three years after WWII b/c the war spending had stopped but the taxes and war controls were still in place. Before that it was Hoover in 1930 and before that it was Coolidge 1924-1929 (last president to balance it every year) and Harding 1921-1923.
Who was the only one to pay off the national debt?
Andrew Jackson was the only president to date to actually pay off the national debt. President Jackson paid off the debt in 1835. He was a wise man by doing so. Many people get confused and believe that there is no national debt when there is a surplus. The last president to balance the budget and regain a surplus of revenue was Bill Clinton and he did it only for one fiscal year.
