Officials also imposed limits on increases and decreases to protect schools from large budget swings this year.
The federal budget swung from a $18.2 billion deficit in the fiscal year that ended March 31 , 1996 to a $10.9 billion surplus last year.
In the late 1990s, America's Social Security surpluses were supposedly in a "lockbox"—which was prised open the moment the rest of the federal budget swung into deficit.
In fiscal policy, the federal budget swung sharply, from a stimulative deficit of 3.8 percent of G.D.P. in 1936 to a small surplus in 1937.
As a state firm, ICE's budget swings with the electoral cycle; it cannot borrow much because that adds to the groaning national debt; and it is creakily managed.
Not only has the budget swung sharply from surplus to deficit, but the policies that caused the shift will have far bigger consequences in the future than they have had so far.
In July , 1968 Congress finally enacted a tax increase and a mild con trol on Government spending, and the Federal budget swung from a $25‐billion deficit to a small surplus in the course of 12 months.
On a national income accounts ba sis, the Federal budget swung from a surplus of $13.4‐bil lion, at an annual rate, in the second quarter of 1969 to a deficit of $14.6‐billion in the second quarter of 1970 — as big a switch, in the opposite direction, as in 1968 69.
Largely because of the economic slowdown, the downward plunge of stock markets and the initial round of tax cuts approved by Congress last year, the federal budget swung from a surplus of more than $100 billion last year to a deficit of about $159 billion this year.
Fiscal policy, too, has given a boost, as America's federal budget has swung sharply into deficit.
