- Sep 15, 2008
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- #81
It's the difference between rhetoric and practice. Conservatives claim to care about the deficit, but spend like drunken sailors when in power, while others actually address the problem head-on (the decline in the deficit in the late 90s comes from the tax increases passed in early part of the decade, first under the moderate George H.W. Bush and then under Clinton).
You're forgetting about the biggest cuts in social programs since the New Deal, which clinton was responsible for. That also contributed to the balanced budget/surplus.
Contributed, sure, but most of the narrowing comes from increased revenue. While the strong economy was a part of that, both the 1990 and 1993 Omnibus Budget Reconciliations added a large amount of revenue (the 1990 bill added 2.7 percent over the baseline, while the 1993 bill added an additional 3.5 percent).
was the revenue brought in because the percentages increased or because people's incomes were greater?