The U.S. federal budget surplus for full fiscal year 1999 was projected at $100 billion to $120 billion, or more than 1 percent of GDP, compared with deficits approaching 5 percent of GDP in the early 1990s.
Notes on verification
Corroborated by CBO, Treasury, and Economic Report of the President historical data on FY1999 budget surplus projections and deficit history.
Sources
- Monetary Policy Report to the Congress for July 22, 1999 ... (federalreserve.gov)
- https://www.cbo.gov/sites/default/files/106th-congress-1999-2000/reports/econsum.pdf (cbo.gov)
- https://fraser.stlouisfed.org/title/economic-report-president-45/1999-8992 (fraser.stlouisfed.org)
- https://www.treasury.gov/resource-center/data-chart-center/Documents/hist.pdf (treasury.gov)