Congress has as much or more to do with that process than any-one For the people By the people Bill Clinton got credit for what Newt and the boys did in the 90s Newt Gingrich and company -- for all their faults -- have received virtually no credit for balancing the budget. Yet today's surplus is, in part, a byproduct of the GOP's single-minded crusade to end 30 years of red ink. Arguably, Gingrich's finest hour as Speaker came in March 1995 when he rallied the entire Republican House caucus behind the idea of eliminating the deficit within seven years. We have a balanced budget today that is mostly a result of 1) an exceptionally strong economy that is creating gobs of new tax revenues and 2) a shrinking military budget. Social spending is still soaring and now costs more than $1 trillion. Skeptics said it could not be done in seven years. The GOP did it in four. No, Bill Clinton Didn't Balance the Budget | Stephen Moore | Cato Institute: Daily Commentary And when it comes to deficits after 2001? from 02-07 all GOP budgets we run a yearly deficit of about 250 billion a year GWB would not even sign 2009 budget and the 08 was 450-500 billion in the hole both with a dem congress Budget 2011: Past Deficits vs. Obama’s Deficits in Pictures so with that said and adding 10-11 and 12 to that we have from about 98-07 GOP added about 1 trillion and the left has added, well lets just allot more than 1 trillion There is nothing here to debate if there is what exactly would it be?