I explain it to people like you like this:
If Reagan spent 6 & HW Bush spent 8 and GW Bush spent 10, Clinton spent 2.
It is more like
Reagan spent 1.5
HW Bush spent 1.1
Clinton spent 1
GW Bush spent 3.5
- excludes the surplus from off budget items like social security
Simple analysis shows that during Clinton's years revenues rose 7-10% per year while outlays 2-4%. GW had revenues decreasing his first four years 4-10% per year and outlays increasing 4-9%. To get budget back in line, I think that revenues need to increase about 200B and outalys need to be cut 300B.
I doubt the next president or congress will have the intestinal fortitude to get budget balanced. Bush has not and the next candidates/congress do not indicate it is too concerning.
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