Since then, principally because of high oil and gasoline prices, the deficit has remained at the $100 billion annual mark.
These sometimes improve with age, but deficits in these areas remain throughout adulthood.
But the fiscal deficit remains at nearly 7 percent of the economy.
It also continues to insist its deficit will remain below the 3 percent threshold.
Economists expect the deficit to remain near that range, with the rising cost of imported oil offsetting strong exports.
He said public outlays last year were the lowest in the last 10 years, but that the fiscal deficit remained at 2 percent.
Reebok International has guaranteed up to $8 million to make up what deficit remains.
Next year, the agency predicted, faster economic growth will actually increase tax revenues even as the deficit remains at a relatively high level of $374 billion.
But even with the improvement the deficit remained above $100 billion for the sixth straight year.
After all his nicks, "the five-year deficit remained at a staggering $800 billion."