I’m going to borrow this from another post on a different site… I DO NOT claim it as my own research or post… simply looking into spreading the reality of the situation.
“While not defending the increase of the federal debt under President Bush, it is aggravating seeing Clinton’s record promoted as having generated a surplus.
It never happened.
There was never a surplus and the cold hard facts support that position. In fact, far from a $360 billion reduction in the national debt in FY1998-FY2000, there was an increase of $281 billion.
Verifying this is as simple as accessing the U.S. Treasury http://www.treasurydirect.gov/NP/BPDLogi… website where the national debt is updated daily and a history of the debt since January 1993 can be obtained. Considering the government’s fiscal year ends on the last day of September each year, and considering Clinton’s budget proposal in 1993 took effect in October 1993 and concluded September 1994 (FY1994), here’s the national debt at the end of each year of Clinton Budgets:
Fiscal Year Year Ending National Debt Deficit
FY1993 09/30/1993 $4.411488 trillion
FY1994 09/30/1994 $4.692749 trillion $281.26 billion
FY1995 09/29/1995 $4.973982 trillion $281.23 billion
FY1996 09/30/1996 $5.224810 trillion $250.83 billion
FY1997 09/30/1997 $5.413146 trillion $188.34 billion
FY1998 09/30/1998 $5.526193 trillion $113.05 billion
FY1999 09/30/1999 $5.656270 trillion $130.08 billion
FY2000 09/29/2000 $5.674178 trillion $17.91 billion
FY2001 09/28/2001 $5.807463 trillion $133.29 billion
As can clearly be seen, in no year did the national debt go down, nor did Clinton leave President Bush with a budget surplus that Bush subsequently turned into a deficit.
Yes, the budget was almost balanced in FY2000 (ending in September 2000 with a deficit of “only” $17.9 billion), but it never reached zero–let alone a positive number. And Clinton’s last budget proposal for FY2001, which ended in September 2001, generated a $133.29 billion deficit.
The growing deficits started in the year of the last Clinton budget, not in the first year of the Bush administration.
There was NEVER A SURPLUS or a BALANCED BUDGET.”