Surprise: Government has Budget Surplus in September

By on October 27, 2002 in Current Events with 0 Comments

In August, the federal government had a deficit of about 55 billion. But, in September it had a $41.66 billion budget surplus. That compares to a $35.50 billion surplus a year earlier.

Despite the September surplus, the deficit for fiscal 2002 will still come in at about $159 billion. The administration says the deficit is due to the recession, stock market decline and increased spending-much of that for defense which includes fighting terrorism.

The White House says the deficits will continue until fiscal year 2005.

© 2016 Ralph R. Smith. All rights reserved. This article may not be reproduced without express written consent from Ralph R. Smith.

About the Author

Ralph Smith has several decades of experience working with federal human resources issues. He has written extensively on a full range of human resources topics in books and newsletters and is a co-founder of two companies and several newsletters onĀ federal human resources.