Fiscal 1998 marked the first year that total receipts exceeded outlays in the federal budget since 1969. Since then, the budget has been in surplus and official projections expect the budget to remain in surplus for the foreseeable future. Congressional Budget Office (CBO) baseline projections indicate that the budget surpluses are expected to grow steadily over the next 10 years.
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Description
Fiscal 1998 marked the first year that total receipts exceeded outlays in the federal budget since 1969. Since then, the budget has been in surplus and official projections expect the budget to remain in surplus for the foreseeable future. Congressional Budget Office (CBO) baseline projections indicate that the budget surpluses are expected to grow steadily over the next 10 years.
This report is part of the following collection of related materials.
Congressional Research Service Reports
The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1960's through 2018—covering a variety of topics from agriculture to foreign policy to welfare.
