23 Aug 2023 10:33 pm
Since I was a kid fifty years ago, Republicans are against deficit spending.
And in the last fifty years only Bill Clinton had five years of balanced budgets 98-01 and the Republicans to this day deny he did. Since 2002 we’ve spent more each year than we took in.
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He had budget surpluses for fiscal years 1998–2001, the only such years from 1970 to 2023. Clinton's final four budgets were balanced budgets with surpluses, beginning with the 1997 budget. The ratio of debt held by the public to GDP, a primary measure of U.S. federal debt, fell from 47.8% in 1993 to 33.6% by 2000.
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God dammit the late nineties were good times.
We should restore that tax code.
It worked.