Originally posted by northcoastgreg While Clinton can be given credit for signing the budget bills that helped balance the budgets, the factors that made the balanced budget possible had little to do with Clinton or any of his policies. The three most important factors behind balancing the budget were:
1. Tax receipts generated by the nineties Stock Market/Credit Bubble Economy.
2. The so-called "peace dividend."
3. A Republican Congress that was less fiscally irresponsible than the Democratic Congresses.
Now Clinton had nothing to do with #2, his role in #3 was unintended and ironical, and his role in #1 (rather limited: had a lot more to do with Greenspan) was nothing to be proud of, as it was simply the beginning of the bubble economy that has led to the current recession.
Whether Clinton or any other president can take credit for the economy is really beside the point, though about whether Clinton governed as a moderate. Clinton fully supported cutting welfare, cutting the size of government (nonmilitary and military), NAFTA, deregulation, etc. He proposed exactly one big liberal program and then ran away from it as if it were on fire.
Point number 3 is highly dubious. According to the CBO, during the years before Clinton, the budgets that the Democratic congress passed resulted in deficits that were less than those which would have resulted had the Reagan/Bush budgets been passed as proposed. The truth is that congress was more responsible than the presidents prior to Clinton.
---------- Post added 06-17-2010 at 07:00 PM ----------
Originally posted by Parallax In some ways, Clinton was less liberal than W.
With apologies to my fellow conservatives- if I had to choose between having GWB back or Slick Willie .........
Then again, to acknowledge some of what has been said by the previous (conservative?) poster said, the congress of the 90s did have something to do with it. I have strong disagreements with Gingrich, and the shutting down of government, hunting the president, etc. But the Republicans of the 90s had not yet become the entrenched corrupt politicians that they were in 2000-2006. I wonder if some of the failings of GWB would have been as severe if his Republican congress had been fresh, fervent and independent.