Congressional office projects larger budget surplus
April 8, 1998
Web posted at: 12:11 a.m. EDT (0411 GMT)
WASHINGTON (CNN) -- The Congressional Budget Office's March review is projecting an $18 billion budget surplus for 1998 if trends continue for the rest of the year.
This figure, larger than expected, is up from the $8 billion surplus the CBO anticipated in its February review.
"If the cumulative surplus for April through September matches last year's performance, the fiscal year will end with an $18 billion surplus," the March report said. The fiscal year ends September 30, 1998.
Last month was the first time since 1969 that the CBO projected a budget surplus. The CBO bases its estimates on statements from its own analysis and from the U.S. Treasury.