The Economic and Budget Outlook: Fiscal Years 2000-2009.
Abstract
Total federal revenues exceeded spending in fiscal year 1998 by $70 billion, producing the first surplus in almost 30 years. The Congressional Budget Office (CBO) estimates that under current law, the total budget surplus will reach $ 107 billion in 1999 and $131 billion in 2000 (see Summary Table 1). When the off-budget spending and revenues of Social Security and the Postal Service are excluded, however, the remaining on-budget transactions show a deficit in those years-$19 billion in 1999 and $7 billion in 2000. But CBO projects that those on-budget deficits will give way to on-budget surpluses in 2001 and succeeding years as the total budget surplus climbs to $381 billion in 2009.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jan 01, 1999
- Accession Number
- ADA359758
Entities
Organizations
- Congressional Budget Office