How did Bill Clinton eliminate the National Debt?

How did Bill Clinton eliminate the National Debt?

Postby stroud » Thu Apr 28, 2011 6:25 pm

A reasonable tax rate and reasonable tax cuts. The two combined to stimulate the economy creating jobs and shifting people from welfare to taxpayers.
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How did Bill Clinton eliminate the National Debt?

Postby otoahhastis » Thu Apr 28, 2011 6:27 pm

He didn't - his 15 year plan would have removed the national debt, but at the time of President Bush's inauguration, Clinton and Congress had created a budget surplus. Eventually, continual budget surpluses as envisioned by Clinton and Congress would have been sufficient to pay off the national debt, thus eliminating it.
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How did Bill Clinton eliminate the National Debt?

Postby adda » Thu Apr 28, 2011 6:30 pm

He didn't. There was a year or 2 of a supposedly balanced budget but the national debt kept climbing.
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How did Bill Clinton eliminate the National Debt?

Postby birly » Thu Apr 28, 2011 6:32 pm

Clinton was president when the country ran some years of surplus but there was still a large national debt from other years. It helped to have Republicans in the house and senate and they actually worked together unlike now. It may get better IF Obama gets re-elected because then the republicans won't be as concerned about making Obama look bad since he won't be able to run again. Right now, their major concern is getting Obama out of office.

The annual deficits are easy to remove by getting rid of corporate tax breaks and decreasing the war effort around the world. As far as the entire national debt, that would take years, but a few years of surplusses would at least be an improvement.
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