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Congress is the one that largely makes the fiscal policy choices. For example, during Clinton’s second term when the deficit was almost eliminated (some claim t
by jameslk 9d ago
Congress is the one that largely makes the fiscal policy choices. For example, during Clinton’s second term when the deficit was almost eliminated (some claim there was a surplus, but there wasn’t because of social security liabilities), you had a republican controlled congress who were pushing for cuts and fiscal tightening:
https://en.wikipedia.org/wiki/Contract_with_America https://en.wikipedia.org/wiki/Contract_with_America
- cbolton 9d agoThe republican program was in large part vetoed by Clinton though and the spending cuts that passed were largely offset by the tax cuts. From what I read the reduction in deficit is mostly due to the dot-com boom, helped with the "deficit reduction act" of 1993 that was pushed by Clinton and happened to hike taxes at the right time to tax the boom.