Saturday, January 06, 2007
The "Clinton surplus"
The Wall Street Journal's editorial page sets the record straight 'bout the "Clinton surplus":
"The budget improvement in the late 1990s was a result of three events: the initial spending restraint under the Republican Congress in 1995 and 1996 as part of their pledge to balance the budget; a huge reduction in military spending, totaling nearly 2 percent of GDP, over the decade; and rapid economic growth, which always causes a bounce in revenues."
"The budget improvement in the late 1990s was a result of three events: the initial spending restraint under the Republican Congress in 1995 and 1996 as part of their pledge to balance the budget; a huge reduction in military spending, totaling nearly 2 percent of GDP, over the decade; and rapid economic growth, which always causes a bounce in revenues."
# posted by Joltin' Django @ Saturday, January 06, 2007 
