No. of Recommendations: 12
I want to say one more thing re the Clinton-era balanced budget and substantial reduction of the national debt, unmatched in modern times. A major part of that accomplishment (along with a booming economy) consisted of tax INCREASES (both income and payroll taxes) on upper-income households along with trimming growth in defense spending. To reiterate, EVERY Republican member of Congress opposed OBRA-93. The Clinton-era balanced budgets were achieved DESPITE Republicans, not because of them. These are facts.
Wikipedia (with my boldface): "The Omnibus Budget Reconciliation Act of 1993 (or OBRA-93) was a federal law that was enacted by the 103rd United States Congress and signed into law by President Bill Clinton on August 10, 1993. It has also been unofficially referred to as the Deficit Reduction Act of 1993. Part XIII of the law is also called the Revenue Reconciliation Act of 1993.
"The bill stemmed from a budget proposal made by Clinton in February 1993; he sought a mix of tax increases and spending reductions that would cut the deficit in half by 1997. Though every congressional Republican voted against the bill, it passed by narrow margins in both the House of Representatives and the Senate. The act increased the top federal income tax rate from 31% to 39.6%, increased the corporate income tax rate, raised fuel taxes, and raised various other taxes. The bill also included $255 billion in spending cuts over a five-year period. In 1998, the effects of the bill helped the US federal government to experience its first budget surplus since the 1960s."
