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Topic: Budget surplus

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1998

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	Citizen's Guide to the Federal Budget: Fiscal Year 2000
		Table 4-1 summarizes the relationship between the budget surplus or deficit and the repayment of Federal debt.
		Because the budget has returned to surplus and debt is being reduced, there will be no need to increase the statutory limit in 2000.
		The deficit fell from $290 billion in 1992 to a surplus of $69 billion in 1998.
	www.gpoaccess.gov /usbudget/fy00/guide04.html (1980 words)

	South-Western: Budget Surplus
		Economic forecasts suggest that such a federal budget surplus is likely to continue for the next several years (in the absence of a major recession or substantial revisions in fiscal policy).
		As the government deficit or surplus is currently measured, social security revenues and expenditures are included in the "unified budget." The recent budget surplus, however, was primarily due to a surplus in the social security account.
		Budget forecasts may be found in the online copy of "Economic and Budget Outlook: Fiscal Years 2000-2009" (chapter 2 of this document deals with the federal budget outlook).
	www.swlearning.com /economics/policy_debates/surplus.html (2769 words)

	House Budget Committee - Democrats
		The unified budget surplus of $304 billion projected for FY 2002, and the cumulative surplus of $5.629 trillion projected over ten years, which this Administration inherited, are gone.
		After the Congressional Budget Office (CBO) significantly increased its projections of the budget surpluses over the ten-year horizon at the beginning of this year, the Administration and Congressional Republicans proceeded to commit virtually every scrap of the projected surplus that they could to the tax cut.
		The surplus that remains is still concentrated in future years, and even that surplus is likely to be eroded by the new economic and budget projections in January.
	www.house.gov /budget_democrats/analyses/surplus_gone.htm (2087 words)

	The Budget Surplus and Fiscal Discipline
		During the 1970s, large budget deficits emerged as the economy was disrupted by oil shocks and inflation.
		Because the large budget deficit has been turned into a surplus, the debt held by the public was reduced for three years in a row, for the first time since 1947–1949.
		Because the budget has returned to surplus and publicly held debt is being reduced, there will be no need to increase the statutory limit in 2002.
	www.whitehouse.gov /omb/budget/fy2002/guide04.html (1340 words)

	Social Security and the Budget Surplus - 3/13/98
		The surplus is enabling Social Security to pay current benefits while also providing some advanced funding of the hefty future benefit costs that will be incurred when the baby boomers begin to retire in substantial numbers.
		As just noted, if a portion of the surplus is used to cut taxes or increase government expenditures rather than to pay down the debt, some of the projected surpluses in the unified budget will be used for current consumption rather than for investment that can boost growth and income.
		Furthermore, if the surplus is used for permanent tax cuts or entitlement expansions, deficits will return sooner and climb to higher levels (unless deeper cuts in basic government programs or steeper tax increases are instituted down the road to avoid budget deficits so large as to be economically injurious).
	www.cbpp.org /313socsec.htm (6341 words)

	The Disappearing Budget Surplus Highlights the Importance of Economic Growth
		Opponents of tax cuts are using the disappearing budget surplus to justify their calls to repeal last year's tax cuts, but the government's own data do not support their claims.
		While the disappearing surplus cannot be responsibly blamed on the tax cuts of 2001, examining the real causes of the decline--the 2001 recession and the correction of prior forecasting errors--can point the way to the steps that Congress and the Administration must take to boost the economy and reverse the problem.
		Chart 1 shows that a full two-thirds of the declining 2002 budget surplus was caused by these economic and technical factors.
	www.heritage.org /research/budget/bg1599.cfm (2514 words)

	How Big is the Prospective Budget Surplus? (Site not responding. Last check: 2007-10-13)
		Just as perennial budget deficits dominated policy discussions in the 1980s and early 1990s, choices regarding how to use the surplus play a central role in the current presidential election campaign and will shape fiscal debates for years to come.
		The CBO estimates that the cumulative budget surplus between 2001 and 2010 is $5.77 trillion under the capped baseline, $5.74 trillion under the freeze, and $4.56 trillion under the inflated baseline.
		The short-term surplus and the decline in the long-term fiscal gap are no doubt improvements, but fiscal discipline may be especially difficult to impose under current conditions.
	www.brookings.edu /comm/policybriefs/pb64.htm (3079 words)

	Budget Surpluses, Deficits and Government Spending
		Budget surpluses are such a rarity that many adults cannot remember the last one before this year (which occurred in 1969).
		A one dollar surplus is associated with an increase in spending in the following year of between 58 and 62 cents, depending on the definition of national debt used as a control variable.
		The near disappearance of the budget surplus, very dear to Truman's heart, was also not primarily a consequence of the relatively mild 1949 recession, which was only a factor in the last half of that fiscal year.
	www.house.gov /jec/fiscal/budget/surplus2/surplus2.htm (4943 words)

	President Clinton announces another record budget surplus - September 27, 2000
		This is the first year we've balanced the budget without using the Medicare trust fund since Medicare was created in 1965.
		In June, the administration predicted the surplus would be $211 billion, and would increase by as much as $1 trillion over the next 10 years.
		The federal budget surplus for fiscal year 1999 was $122.7 billion, and $69.2 billion for fiscal year 1998.
	www.cnn.com /2000/ALLPOLITICS/stories/09/27/clinton.surplus/index.html (853 words)

	Budget Surplus Myth (Site not responding. Last check: 2007-10-13)
		The existence of a real budget surplus is in the best interests of both political parties, and the voters love the idea that the government has become so rich that it can give money back to the people.
		It was the $99.2 billion surplus in the Social Security Trust Fund that enabled the government to report a budget surplus of $69.2 billion.
		Thus, the on-budget deficit or surplus is a measure of whether the government is operating in the red or in the fl, and the off-budget surplus or deficit is a measure of the solvency of the Social Security system.
	www.delta.edu /mkhiatt/surplus_myth.html (10113 words)

	BBC News \| BUSINESS \| US budget surplus gone
		The huge US government budget surplus - which one year ago was estimated at $5.6 trillion over 10 years - is set to disappear as the effects of the economic slowdown and the Bush administration tax cuts take effect.
		The new estimate suggests that the total surplus will only be $1.6 trillion - and nearly all of that will be a surplus that the social security trust funds are obliged to build up to meet future obligations.
		The declining surplus will increase the political temperature in Washington, erasing the consensus built up in the years of budget surplus and - perhaps - leading to a return to the partisanship of the early Clinton years.
	news.bbc.co.uk /1/hi/business/1775698.stm (797 words)

	CTJ Op-Ed on the Federal Budget Surplus (Site not responding. Last check: 2007-10-13)
		Specifically, the GOP's 10-year budget plan assigns 90 percent of the projected surpluses to tax cuts, 18 percent to higher defense spending than CBO projects, and suggests additional shares for highways and education.
		The surpluses exist only if one starts off by assuming that over the next decade discretionary programs--everything from defense to transportation to law enforcement to environmental protection to housing assistance--will be cut by 15 percent adjusted for inflation and population growth, and by 23 percent as a share of the economy.
		Let's redo the surplus projections using some more realistic arithmetic.If, for example, we assume that defense spending will stay even with inflation and adjust domestic appropriations only for inflation and population growth, then the $996 billion projected surplus drops to only $224 billion over ten years--78 percent less than the official figure.
	www.ctj.org /html/nosurp99.htm (500 words)

	Economic surplus - Wikipedia, the free encyclopedia
		Total surplus is the primary measure used in Welfare Economics to evaluate the efficiency of a proposed policy.
		A basic technique of bargaining for both parties is to pretend that their surplus is less than it really is: sellers may argue that the price they asks hardly leaves them any profit, while customers may play down how eager they are to have the article.
		In heterodox economics, the economic surplus denotes the total income which the ruling class derives from its ownership of scarce factors of production, which is either reinvested or spent on consumption.
	en.wikipedia.org /wiki/Economic_surplus (753 words)

	SPENDING THE FEDERAL BUDGET SURPLUS: AN EXERCISE IN WISHFUL THINKING
		The surplus, or deficit (to use a more familiar word) is what's left over after Uncle Sam totals up the revenue from income and payroll taxes and various other sources and subtracts all the spending for defense, Medicare, special prosecutors and other odds and ends.
		The unified budget made its debut in the 1960s on the advice of economists, because it was the best measure of the total impact of government on the economy.
		The prospect of a budget surplus is a novel and exciting challenge for Americans and a test of the nation's political leadership.
	www.strom.clemson.edu /opinion/ulbrich/surplus.html (1872 words)

	budget surplus Definition
		However, a government has to be careful about running a budget deficit to make sure that the means of financing the deficit do not cause too much of an interest burden.
		As in the case of the government, individuals and corporations do not have to ensure that their budgets are in surplus or balanced, but they have to be mindful of interest costs as a proportion of their income.
		However, other economists say that manipulating the budget deficit will only result in a change in the price level in the economy, since actual production change in an economy is only decided by changes in the labor force, the state of technology, and productivity of the workforce.
	www.investorwords.com /602/budget_surplus.html (379 words)

	How Much of the Surplus Remains after the Tax Cut? - Rev. 6/27/01
		These projections show a unified budget surplus that grows from $304 billion in 2002 to $883 billion in 2011 and totals $5.6 trillion over the ten-year period from 2002 through 2011.
		The available surplus of $31 billion in 2002 is the result of another gimmick in the tax bill.
		The budget resolution is not a law but a budget framework that provides budget allocations to the Congressional committees that write tax, entitlement, and appropriations laws.
	www.centeronbudget.org /6-13-01bud.htm (3719 words)

	Republicans Take Credit For Projected Budget Surplus - March 4, 1998
		House Budget Chairman John Kasich (R-Ohio) pointed out that "the last time this happened was when we walked on the moon," nearly 30 years ago.
		Republican-led reforms paved the way for the budget surplus, Gingrich said, "because we reformed welfare, because we cut discretionary spending, because we reformed the entitlements, because we were prepared to begin the process of change in health, in things like medical savings accounts."
		The surplus is announced at the same time that members from both parties are pushing plans for how to use it, cutting taxes, or boosting spending.
	www.cnn.com /ALLPOLITICS/1998/03/04/budget.surplus/index.html (216 words)

	The Vanishing Budget Surplus: Interpreting CBO's New Projections and Fiscal Prospects (Site not responding. Last check: 2007-10-13)
		Recent corporate scandals have heightened concern that misleading accounting data can substantially misrepresent an entity's financial health; although federal budget figures are clearly not intentionally fraudulent, as appears to have been the case in some corporate settings, the basic concern about the accuracy of budget figures is relevant to the federal government.
		The projected outcome for the fixed time period of 2002 to 2010 deteriorated on a unified budget basis from a surplus of $4.7 trillion in January 2001 to essentially zero ($13 billion) in August 2002.
		The projected outcome for 2002 alone changed by $470 billion, from a surplus of $313 billion in January 2001 to a deficit of $157 billion in August 2002.
	www.brookings.edu /views/papers/orszag/20020829.htm (614 words)

	Estonia’s budget surplus continues to rise
		TALLINN - Estonia’s budget surplus – one of only several in the EU and a source of much debate at home – continues to mount thanks to a booming economy.
		Inevitably, political parties are at odds how to use the surplus, with Villu Reiljan, the leader of the populist People’s Union, one of the three parties in the ruling coalition, proposing that the funds be used to boost the social sphere.
		Despite the surplus, Estonia’s economic leadership has been unable to rein in inflation, which is currently over 4 percent and showing no signs of slacking.
	www.baltictimes.com /news/articles/16131 (566 words)

	Sorting out the budget surplus (Site not responding. Last check: 2007-10-13)
		While the final budget will undoubtedly include both tax cuts and spending increases, there is likely to be strident debate and some confusion over the use of the budget surplus.
		This scenario projects the federal surplus to rise from 1.8 percent of GDP this year to 2.2 percent in 2005 and 3.3 percent in 2010.
		But even if all of the "on budget" surplus is eliminated to finance new spending programs or tax cuts, large surpluses in Social Security and Medicare will reduce the national debt to a low 8 percent of GDP.
	www.nber.org /feldstein/bg042500.html (786 words)

	Clinton - Gore Budget/Fiscal Record
		When President Clinton and Vice President Gore took office, the Congressional Budget Office (CBO) projected the deficit to be $404 billion this year and heading higher; now, the Administration projects the surplus to be $79 billion this year and growing bigger.
		As a share of GDP, the budget surplus would be 0.9 percent this year -- the largest since 1957.
		The budget will be balanced this year -- for the second year in a row -- and the surplus is expected to hit $187 billion in 2002 -- part of what would be the longest and largest debt reduction in our history.
	clinton2.nara.gov /WH/EOP/OP/Budget2000/surplus.html (1115 words)

	The U.S. Budget Surplus (Site not responding. Last check: 2007-10-13)
		That's an amazing statement, considering that the budget surplus is already in Social Security.
		The law requires that the spending and revenues of two Federal programs, Social Security and the Postal Service, be excluded from the budget totals -- that is, categorized as "off budget." Therefore, the budget displays "on-budget," "off-budget," and "unified budget" totals to satisfy (actually, to evade) this legal requirement.
		It isn't in the "on-budget" budget, because that has a deficit.
	mywebpages.comcast.net /mbrilliant2/surplus.html (479 words)

	CTJ Analysis of Federal Budget Surplus
		In January of 2001, the Congressional Budget Office increased its estimate of the ten-year federal budget surplus by almost $1 trillion.
		A less-frequently noticed caveat to the CBO surplus estimates is one that CBO--to its credit--has been quite willing to emphasize: their surplus projections have a pretty good probability of being completely wrong.
		CBO is, however, 90% sure that the total on-budget surplus in 2006 will be somewhere between plus or minus 206 percent of its projections.
	www.ctj.org /html/surp0301.htm (630 words)

	U.S. budget surplus shrinks in 2001 - Oct. 29, 2001
		The Treasury Department reported a budget surplus for the fiscal year, which ended on Sept. 30, of $127 billion, compared with $237 billion a year ago.
		Though it also was the second-largest surplus in history, it was the first time since 1992 that the budget worsened.
		Some economists believe the government will post a deficit in the 2002 budget year, the first shortfall since 1997, and most expect the economy to fall into a recession in the wake of the Sept. 11 attacks, if it wasn't there already.
	money.cnn.com /2001/10/29/economy/budget (510 words)

	Can the Budget Surplus Survive a Train Wreck? (Site not responding. Last check: 2007-10-13)
		With Congress and the president at an impasse over passage of a budget for Fiscal Year 2000, leading economic and fiscal experts met at the Urban Institute to discuss the fate of this year's projected surplus and longer-term issues.
		The notion that we are not going to spend the Social Security surplus has taken hold and as long as the economy is good and we are not running deficits, there will be some adherence to that.
		"The real question is whether fiscal discipline and the budget process, which so frequently culminates in a train wreck at the end of the year, survive multiyear, multitrillion-dolllar budget surplus projections.
	www.urban.org /publications/900306.html (1260 words)

	Budget Surplus (Site not responding. Last check: 2007-10-13)
		Today, therefore, when Bill Clinton announces a budget surplus, he MEANS that the unified budget, after looting the social security system, shows a surplus.
		The remainder of the projected budget surplus (23%) would be spent on new programs under the President's proposal (including contributions by the federal government to citizens' Universal Savings Accounts).
		The Republicans in Congress responded by advocating that part of the budget surplus be returned to citizens directly through a 10% across-the-board income tax cut and a cut in federal estate taxes.
	www.accd.edu /pac/philosop/phil1301/budgetsurplus.htm (845 words)

	Home Page for State Surplus Property.
		Surplus Property is responsible for the acquisition and distribution of federal surplus property to eligible organizations.
		Surplus Property is also responsible for the disposition of property surplus to the needs of state agencies and political sub divisions.
		Most of this property is at the federal property distribution center in Bismarck and is made available to eligible organizations and the public.
	www.nd.gov /surplus/default.html (113 words)

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