Which of the following best describes the US economy in 1998 during President Clinton's term?

O

It was in a recession.

It was in a depression.

The federal budget was balanced.

The deficit was somewhat lowered.

The right answer is "The federal budget was balanced."

Explanation:

The Clinton administration managed not only to balance the budget, but it got a record surplus with no precedents in the history of the United States. In 1993, when Bill Clinton took office, the budget deficit was nearly $300 billion. In 1998, the country saw a surplus $69 billion. He had raised taxes for people with high incomes, corporation taxes were also raised and he reformed some welfare policies, among other measures.

The correct answer is C!