4 ms·
Clinton presidency is what comes to mind. Higher taxes, lower deficit, there was a real concern what would happen if the government stopped borrowing money. Mo
by Retric 3y ago
Clinton presidency is what comes to mind. Higher taxes, lower deficit, there was a real concern what would happen if the government stopped borrowing money.
More taxes and lower defense spending made a huge impact, though solid economic growth obviously helped. We had an actual budget surplus from 1998 to 2001 though it was quickly ended by Bush.
- seanmcdirmid 3y agoRepublicans always care about the deficit more when a Democrat is president, so the Republican revolution had to do something useful, and they decided to focus on the debt and the deficit since Russia and China were too peaceful back then, and they were wary to go after illegal immigration after Pete Wilson losing California. Bill Clinton, being a blue dog, really had no problem with that (they also got to cut a lot of welfare that Bill Clinton also didn't care much about). But this actually horrified the Republican leadership, as what they say and what they want are usually very different, hence Dick Cheney's comment on surpluses being evil.