Originally Posted by tony hipchest
i dont think we were ever out of debt. the budget was just balanced by not incurring any new debt.
clinton knew the budget must be balanced 1st before we could even think of getting out of trillions of dollars of debt. (baby steps). i dont think he ever claimed that he could build rome in a day. any of his supporters who claimed we had no debt to pay off either were blind or talking about "new debt" and misrepresenting the facts.
from a monetary point of view the chart in this thread speaks pretty clearly.
it's a correlation, nothing more.
In the late 90's, the balanced budget proposal was written & introduced by the newly elected majority republicans. Clinton acquiesced & signed then took all of the credit. It appears that the AMAZING tech boom & subsequent tax revenue may be the major contributor to the short term surplus situation. If I'm wrong, I'd like to see what Clinton did to create the surplus situation.
P.S. - republicans have actually raided S.S. trust fund before & after Clinton. It's a shame.