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an economic downturn, costs associated with the war on terrorism, and a cut in federal taxes

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Q: Why did the federal surplus disappear after 2001?
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Did the US have a federal deficit or surplus in 1998?

The United States had a federal surplus in 1998. There was a surplus until 2001, but after 2001, the country has had a national deficit.


When was the last time there was a federal surplus?

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a decrease in government spending


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