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In the late 1990s the U.S. federal government ran a budget surplus for the first time in decades. This meant that Choose one: A. U.S. government debt was reduced but not eliminated. B. U.S. government debt stayed constant over these years. C. U.S. government debt was eliminated. D. U.S. government debt increased at a slower rate than it had done previously.

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The fact that the U.S. had a federal budget surplus meant that A. U.S. government debt was reduced but not eliminated.

When a country has a budget surplus, it means that:

  • The country had enough tax revenue to take care of its obligations
  • The country did not have to borrow extra funding
  • The country was able to pay off some debt

With the U.S. having a budget surplus, we can conclude that the U.S. was not only able to avoid borrowing more money, they were able to pay off some.

This means that they reduced the debt even though they did not eliminate it.

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