<P> According to the Congressional Budget Office , the United States last had a budget surplus during fiscal year 2001 . From fiscal years 2001 to 2009 , spending increased by 6.5 % of gross domestic product ( from 18.2 % to 24.7 % ) while taxes declined by 4.7 % of GDP ( from 19.5 % to 14.8 % ) . Spending increases ( expressed as percentage of GDP ) were in the following areas : Medicare and Medicaid ( 1.7 % ) , defense ( 1.6 % ) , income security such as unemployment benefits and food stamps ( 1.4 % ) , Social Security ( 0.6 % ) and all other categories ( 1.2 % ) . Revenue reductions were individual income taxes ( − 3.3 % ) , payroll taxes ( − 0.5 % ) , corporate income taxes ( − 0.5 % ) and other ( − 0.4 % ) . </P>
<P> According to the Congressional Budget Office , the United States last had a budget surplus during fiscal year 2001 . From fiscal years 2001 to 2009 , spending increased by 6.5 % of gross domestic product ( from 18.2 % to 24.7 % ) while taxes declined by 4.7 % of GDP ( from 19.5 % to 14.8 % ) . Spending increases ( expressed as percentage of GDP ) were in the following areas : Medicare and Medicaid ( 1.7 % ) , defense ( 1.6 % ) , income security such as unemployment benefits and food stamps ( 1.4 % ) , Social Security ( 0.6 % ) and all other categories ( 1.2 % ) . Revenue reductions were individual income taxes ( − 3.3 % ) , payroll taxes ( − 0.5 % ) , corporate income taxes ( − 0.5 % ) and other ( − 0.4 % ) . </P>
when was the last time the us had no deficit
when was the last time the us had no deficit
during fiscal year 2001
during fiscal year 2001