2 ms·
I am not confusing the deficit nor the national debt. I simply mentioned both. I addressed the deficit in my original comment. I'll do so again for the sake of
by innocentoldguy 5y ago
I am not confusing the deficit nor the national debt. I simply mentioned both. I addressed the deficit in my original comment. I'll do so again for the sake of convenience: Clinton's tax revenue was never enough to cover all government spending. In every year that Clinton claimed to have a surplus, government spending increased by a bigger amount than the claimed surplus. In other words, Clinton borrowed from other areas of government (social security, etc.) to fill the gap between tax revenues and government spending. Here are both the national debt and the deficit for the Clinton years:
Fiscal Year National Debt Deficit
1994 $4.692749 trillion $281.26 billion
1995 $4.973982 trillion $281.23 billion
1996 $5.224810 trillion $250.83 billion
1997 $5.413146 trillion $188.34 billion
1998 $5.526193 trillion $113.05 billion
1999 $5.656270 trillion $130.08 billion
2000 $5.674178 trillion $17.91 billion
2001 $5.807463 trillion $133.29 billion
Since you brought up a credit card example, what Clinton basically did was pay down his Visa using his MasterCard. We are still paying off his MasterCard.
UPDATE: Fixed table formatting.