You can have a balanced annual budget and still carry debt.
WASHINGTON (CNN) - President Bill Clinton said Monday that the United States would pay off $216 billion in debt this year, bringing to $355 billion the amount of the nation's debt paid down in the three years since the government balanced the budget and began running surpluses.
was that enough to stop the debt fron growing beyond the previous years level, no, thanks to Reagan it is so large it grows very fast now, damn that interest.
In a written statement, Clinton said the $216 billion payment represented the largest debt paydown in American history, and he said that the federal government's long-term debt is now $2.4 trillion lower than projected to be when he first took office.
However, the U.S. government still has a long way to go before it pays down the entire national debt, which now stands at $5.7 trillion.
The balanced budget agreement act passed in 1993, the year before the GOP "revolution", all they get credit for is shutting down the Govt. and acting like children because Clinton was doing so well. For his sake I hope that was awfully good head.....
WASHINGTON (CNN) - President Bill Clinton said Monday that the United States would pay off $216 billion in debt this year, bringing to $355 billion the amount of the nation's debt paid down in the three years since the government balanced the budget and began running surpluses.
was that enough to stop the debt fron growing beyond the previous years level, no, thanks to Reagan it is so large it grows very fast now, damn that interest.
In a written statement, Clinton said the $216 billion payment represented the largest debt paydown in American history, and he said that the federal government's long-term debt is now $2.4 trillion lower than projected to be when he first took office.
However, the U.S. government still has a long way to go before it pays down the entire national debt, which now stands at $5.7 trillion.
The balanced budget agreement act passed in 1993, the year before the GOP "revolution", all they get credit for is shutting down the Govt. and acting like children because Clinton was doing so well. For his sake I hope that was awfully good head.....