The government has announced a record surplus of $237 billion...

The government has announced a record surplus of $237 billion for the year that ended last month, as the nation's economy booms and tax revenues soar. This news is likely to spark further debate among politicians over the country's fiscal priorities. The Treasury Department released the data on Tuesday, surpassing earlier estimates made by both the White House and the Congressional Budget Office. This marks the third consecutive year of a surplus, a trend not seen since the late 1940s. Last year's surplus of $124.4 billion was almost double the previous year's $69.2 billion.

Tuesday, 24 October, 2000