Part 3/8:
Historically, the U.S. government has grappled with running deficits since the 20th century. Analysis reveals that the country has mainly experienced periods of deficits, with notable surpluses only occurring in the 1920s and the late 1990s through the early 2000s. These earlier periods of surplus can be attributed to significant tax cuts and reductions in government spending implemented by Presidents Calvin Coolidge and Bill Clinton.