Charles Zwick created balanced US budget

Charles Zwick led one of Miami's most powerful institutions and chaired the University of Miami Board of Trustees. But his most miraculous accomplishment may have been creating a surplus in the notoriously burdened federal coffers.

Zwick, who served as chairman, president and CEO of Southeast Bank before his 1991 retirement, died earlier this month at age 91. From 1968 to 1969, he served as budget director under Lyndon B. Johnson, creating a plan for a tax surcharge that resulted in a $3.2 billion federal surplus. It was the only balanced budget before the Clinton era, according to UM, where he served as a trustee. He championed philanthropy for numerous causes, including UM and United Way of Miami-Dade.

This story was originally published April 27, 2018 at 3:05 PM with the headline "Charles Zwick created balanced US budget."