1999 United States federal budget
Encyclopedia
The Budget of the United States Government Fiscal Year 1999 (FY99) was a spending request
by President
Bill Clinton
to fund government operations for October 1998–September 1999. It was the first balanced Federal budget
in 30 years. In FY99, revenue
s were 1.82 trillion dollars. Spending was 1.70 trillion dollars, the surplus
was $124 billion dollars, and the GDP
was 9.2 trillion.
External links=
United States federal budget
The Budget of the United States Government is the President's proposal to the U.S. Congress which recommends funding levels for the next fiscal year, beginning October 1. Congressional decisions are governed by rules and legislation regarding the federal budget process...
by President
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....
Bill Clinton
Bill Clinton
William Jefferson "Bill" Clinton is an American politician who served as the 42nd President of the United States from 1993 to 2001. Inaugurated at age 46, he was the third-youngest president. He took office at the end of the Cold War, and was the first president of the baby boomer generation...
to fund government operations for October 1998–September 1999. It was the first balanced Federal budget
Balanced budget
A balanced budget is when there is neither a budget deficit or a budget surplus – when revenues equal expenditure – particularly by a government. More generally, it refers to when there is no deficit, but possibly a surplus...
in 30 years. In FY99, revenue
Revenue
In business, revenue is income that a company receives from its normal business activities, usually from the sale of goods and services to customers. In many countries, such as the United Kingdom, revenue is referred to as turnover....
s were 1.82 trillion dollars. Spending was 1.70 trillion dollars, the surplus
Surplus
Surplus means when there is more supply than demand, as in extra resources.Surplus may refer to: dumd* "The Surplus", an episode of The Office* Surplus: Terrorized into Being Consumers, a documentary film...
was $124 billion dollars, and the GDP
Gross domestic product
Gross domestic product refers to the market value of all final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country's standard of living....
was 9.2 trillion.
Revenue
- 879B - Personal Income Taxes
- 184B - Corporate Tax
- 611B - Social Insurances Tax
- 70B - Excise Tax
- 81B - other
Spending
- 300B - Defense
- 389B - Social Security
- 139B - Income Security
- 85B - Federal Pensions
- 229B - Interest on Debt
- 320B - Medicare/Medicaid
External links=