Did Clinton Balance the Budget? No

Image via Wikipedia

Just so intellectual liberals can get their facts right. The Contract with America which balanced the budget was designed by Newt Gingrich. It was originally vetoed, but then signed by Clinton after some modifications and a threat of veto override. It was not Clinton's legislation nor did it bear any of his ideas.

The Republican takeover of Congress in 1994 led to a push for a balanced budget as part of the Republican Contract with America campaign, continuing deficit reductions by President Clinton consistent with his 1992 campaign promise. Despite political conflicts with President Clinton, the Legislature and the Chief Executive reduced the deficit.

At this time, Americans viewed reducing the deficit one of the most important public policy objectives. In March 1995, a Balanced Budget Amendment passed the House of Representatives and came within one vote of passing the Senate.

Out of office, former House Speaker Newt Gingrich called for continued payments toward the debt with a view to paying it off entirely. Ross Perot's less effective 1996 presidential bid was in part evidence of the declining significance of the deficit, and hence the Balanced Budget Amendment, as an issue.

In his final State of the Union, President Clinton said the United States should continue to balance its books and pay off the debt entirely.

Subsequent tax cuts during the Bush administration, the technology downturn which began impacting the economy in mid-2000, and increased military and other spending have eliminated Clinton-era surpluses. Both the deficit and debt grew to the largest in U.S. history, although not as a percentage of GDP. In fiscal years starting September 30, 2002 and ending September 30, 2006 the national debt increased nearly 50%.

In the first year of Barack Obama's presidency, the deficit is expected to reach $1.75 trillion. President Obama does not intend to balance the budget during his term(s) but does plan to lower the deficit to $533 billion by the year 2013.

So yes, the Republicans balanced the budget. Then George Bush went on to piss the whole thing away. Thanks to that brilliant strategy we now have Barack Obama running things.

The problem with RINO'S (Republicans in Name Only) is the minute they win an election, they turn into Democrats.

http://en.wikipedia.org/wiki/Balanced_Budget_Amendment#Clinton_and_a_budget_surplu