US Presidents
Budgeting and Forecasting

When was the last time the US had a budget surplus?


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2013-07-03 13:08:28
2013-07-03 13:08:28

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.


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