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He had budget surpluses for fiscal years 1998–2001, the only such years from 1970 to 2023. Clinton's final four budgets were balanced budgets with surpluses, beginning with the 1997 budget. The ratio of debt held by the public to GDP, a primary measure of U.S. federal debt, fell from 47.8% in 1993 to 33.6% by 2000.
The Omnibus Budget Reconciliation Act of 1993 (or OBRA-93) was a federal law that was enacted by the 103rd United States Congress and signed into law by President Bill Clinton on August 10, 1993. It has also been unofficially referred to as the Deficit Reduction Act of 1993 .
The Balanced Budget Act of 1997 (Pub. L. 105–33 (text), 111 Stat. 251, enacted August 5, 1997) was an omnibus legislative package enacted by the United States Congress, using the budget reconciliation process, and designed to balance the federal budget by 2002. This act was enacted during Bill Clinton's second term as president.
Standing behind a podium in the Rose Garden, President Bill Clinton delivered a bold prediction 20 years ago.“Well ahead of the most ambitious schedule, America has balanced the budget,” he ...
The Clinton administration said that "The Republican budget plan fails to protect Medicare, Medicaid, education, the environment and tax fairness, and therefore, President Clinton will veto it." There was also a disagreement on the Defense appropriations bill regarding funding for the peacekeeping mission in Bosnia. [ 13 ]
The United States Federal Budget for Fiscal Year 2001, was a spending request by President Bill Clinton to fund government operations for October 2000-September 2001.Figures shown in the spending request do not reflect the actual appropriations for Fiscal Year 2001, which must be authorized by Congress.
Clinton's second term also saw the first federal budget surpluses since the 1960s. The ratio of debt held by the public to GDP fell from 47.8% in 1993 to 33.6% by 2000. His impeachment in 1998 arose after he denied claims of having an affair with a White House intern, Monica Lewinsky under oath.
2.1 Deficit/Surplus. 3 References. ... Bill Clinton: Submitted to: ... The 1995 United States federal budget is the United States federal budget to fund government ...