> Since 1961, the federal government has run deficits in all but five years; only the surplus of 1969 stemmed from deliberate policy: a 10 percent income surtax reluctantly passed by Congress in 1968.
> The others (1998-2001) mostly reflected good fortune: the end of the Cold War, resulting in a 40 percent drop in defense spending as a share of the economy, and an unexpected surge in taxes from the economic boom.
> Neither was a policy act of the Clinton administration or the then-Republican Congress.The most telling figures in his budget involve his proposal to eliminate or dramatically reduce 151 programs, for a savings of $18 billion. That's six-tenths of 1 percent of federal spending. What's telling, though, is that Congress will probably reject even many of these proposal...
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