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U.S. to post larger than expected budget surplus
January 6, 1999 WASHINGTON (AllPolitics, January 6) -- President Clinton is expected to announce Wednesday that the projected budget surplus for fiscal year 1999 will be $76 billion -- larger than expected because of higher tax revenues produced by a strong economy. Last November, the Congressional Budget Office projected a surplus of $63 billion for the new fiscal year, which started October 1. A senior White House official told CNN that Clinton would make the announcement to his budget team in a morning meeting. He will urge his team to maintain the fiscal discipline set by the 1997 Balanced Budget Act and continue to make disciplined and tough choices in funding federal programs. Clinton will tell them, the official said, that it is important to continue to make "smart" funding decisions and put money in programs that represent investments in the future. The official said that the president still intends to hold the budget surplus in reserve for Social Security. The United States posted its first budget surplus in nearly 30 years -- $70 billion -- in the last fiscal year. CNN Correspondent Chris Black contributed to this report. MORE STORIES:Wednesday January 6, 1999
• Senate urged to call Lewinsky, Currie, Jordan as witnesses • An impeachment trial primer: what you need to know • New Hampshire poll shows Dole, Bush leading GOP pack • New speaker calls for end to partisan stalemate • Getting tickets to watch impeachment trial • U.S. budget surplus to be larger than expected • What's ahead for the 106th Congress? • Transcript: Elizabeth Dole on 'Late Edition' • Two big-name writers focus on Hillary Clinton • Text of Speaker Hastert's speech • Congress convenes, Hastert elected House speaker • Ex-Sen. Moseley-Braun to advise on school renovation • Lawmakers debate boosting Medicare's eligibility age |
