THE RISE OF POLITICAL CONSERVATISM 1980 1992
PRESIDENT GEORGE HW BUSH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The economy had a budget surplus
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The economy had a budget deficit
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The government took more control of the economy
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The government became more totalitarian
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Detailed explanation-1: -A surplus occurs when the government collects more money than it spends. The last surplus for the federal government was in 2001.
Detailed explanation-2: -According to the Congressional Budget Office, the United States last had a budget surplus during fiscal year 2001, though the national debt still increased.
Detailed explanation-3: -If the federal government runs a budget surplus, then the national debt becomes smaller. An annual surplus will offset the national debt by the amount of the surplus. But the federal debt will still exist.
Detailed explanation-4: -The United States began its history indebted, owing more than $75 million after the end of the Revolutionary War in 1783. 1 However, the first actual fiscal deficit in the federal ledger was not run until the end of that decade.