Final answer:
The first federal budget surplus in three decades occurred in 1998 and lasted until 2001. Surpluses shifted back to deficits in 2002.
Step-by-step explanation:
The first federal budget surplus in three decades occurred in the late 1990s. Specifically, after years of deficits, the federal government experienced surpluses from 1998 to 2001. The return to budget surpluses was due to a combination of factors, including economic growth and fiscal policies that were in place at the time. These surpluses were brief as the budget returned to deficits in 2002 following changes in economic conditions and policy decisions. The early 2000s saw increased deficits, and later on, the recessions in 2007-2009 and 2020 led to particularly large deficits. Therefore, the correct answer to the question is 1998, which marks the beginning of a four-year period of budget surpluses.