Clinton Didn't Balance The Budget

Bill Clinton didn't balance the budget.  Clinton, the Democrats, and the main stream media have perpetrated this myth so long too many Americans believe it.   There was a reduction of debt as a percent of GDP.

 Year           National Debt

1993            $4.411 Trillion

1994            $4.693 Trillion

1995            $4.974 Trillion

1996            $5.225 Trillion

1997            $5.413 Trillion

1998            $5.526 Trillion

1999           $5.656 Trillion

2000           $5.674 Trillion

2001           $5.807 Trillion

Tax revenues increased 72.5% between 1993 and 2001, due primarily to two ballooning phenomena; The dot com explosion and the housing boom. We all know what happened to both of those........

Clinton increased spending by 32.2% over that time frame, thus the reduction of debt as a % of GDP. It wasn't achieved by reducing spending, rather it was achieved by a temporary and "faux" increase in revenue.

Bill Clinton saw the deficit reduced as a percentage of GDP. When he took office in 1993, the debt stood at 66.1% of GDP and when he left in 2001, it was 56.4%. While the total debt grew, the economy expanded enough to reduce its impact by nearly 10%.

Compare the actual revenues and outlays in 2008 (pre- Barack Obama) to those in 2011, and you will observe that even though revenues dropped 14%, spending still increased 28%.

If your family's income dropped by 14%, would you go out and increase your spending by 28%?

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