reason10
Governor
The Reagan defense spending was merely to rebuild a military that the incompetent Carter regime had slashed. And defense spending was STILL a smaller percentage of the federal budget than entitlements. And the last time the budget was balanced was in 1969, right at the height of the Vietnam War, (and I'm pretty sure Defense spending was higher than the welfare state back then.)That bill did not mandate a massive bump in defense spending under Reagan...when the national debt went from $900 billion up to $4 trillion by the time Clinton pushed his first budget through.
Clinton did nothing of the sort. NONE of his budgets led to balance or even in the neighborhood. It was the Newt Gingrich Congress that reined in KKK's disastrous policies. A single reduction in the Capital Gains Tax led to so much money flooding the Treasury that it gave the illusion that the budget was balanced, even though spending had not even slowed its rate of increase. And KKK still left the next president with a deficit.How did Clinton get the budget to nearly balance and the deficit to just about zero?
http://www.craigsteiner.us/articles/16
While not defending the increase of the federal debt under President Bush, it's curious to see Clinton's record promoted as having generated a surplus. It never happened. There was never a surplus and the facts support that position. In fact, far from a $360 billion reduction in the national debt in FY1998-FY2000, there was an increase of $281 billion.