the last time the us had a budget surplus was 2001.
the last time the us had a budget surplus was 2001.
when was the last time the us had a budget surplus?
2001
commentator andrew sullivan quoted a claim that johnson "is highly regarded in the state for his outstanding leadership during two terms as governor. he slashed the size of state government during his term and left the state with a large budget surplus." in an interview in "reason" in january 2001, johnson's accomplishments in office were described as follows: "no tax increases in six years, a major road building program, shifting medicaid to managed care, constructing two new private prisons, canning 1,200 state employees, and vetoing a record number of bills." according to one new mexico paper, "johnson left the state fiscally solid" and was "arguably the most popular governor of the decade... leaving the state with a $1 billion budget surplus." "the washington times" reported that when johnson left office, "the size of state government had been substantially reduced and new mexico was enjoying a large budget surplus." in a 2016 "national review" article, johnson was criticised for claiming to have balanced new mexico's budget every year. the constitution of new mexico requires that the state budget be balanced, with its debt in a separate "capital outlay" budget. the article stated that under johnson new mexico's debt increased from $1.8 billion to $4.6 billion and its budget increased from $4.397 billion to $7.721 billion.
gary johnson
in his first budget as minister of finance the province recorded a $76 million surplus. his budget cut personal taxes and paid $66 million onto the province's debt. in his 2008 budget marshall announced a $1.4 billion budget surplus, the largest surplus to that date. like his previous budget marshall continued to cut personal income taxes and pay down debt, the budget also spent $673 million on infrastructure throughout newfoundland and labrador. marshall's 2010 budget projected a $194.3 million deficit for that coming year despite that he increased overall spending and cut personal and small business taxes. by the time marshall delivered his 2011 budget the deficit he projected the previous year had turned into a $485-million surplus, due to higher than expected oil revenues. the budget was the first under new premier kathy dunderdale and was delivered five months before the provincial election. the $7.3-billion budget increased spending, but despite a budget surplus it would add to the province's net debt.
tom marshall (politician)