Which of the following is true about the U.S.federal government budget for the year 1998?
A)The U.S.Constitution was amended to require a balanced federal budget.
B)The federal budget deficit was the largest in history.
C)Federal government receipts were greater than federal government spending for the first time in a generation.
D)Federal government outlays were greater than federal government receipts for the first time in a generation.

Question

Quizplus · Accepted Answer

In 1998, the U.S. federal government experienced a budget surplus, meaning that federal government receipts were greater than federal government spending for the first time in a generation. This marked a significant financial milestone, as it was the first surplus in decades.

Which of the Following Is True About the U