The Myth of the Clinton Balanced Budget

It’s fun to watch leftovers and pro-regressives demand more tax slavery because of our debt crisis, which they claimed did not exist a few years ago.  A related claim is that President Clinton balanced the budget (which tea partiers and such all know means a GOP Congress and gridlock forced him to balance the “budget” which excluded Social Security, Medicare, pensions, and other off budget debts).

But today I also came across this:

  • The Clinton Balanced Budget Myth:

    Clinton ran deficits throught all 8 years of his term, and one can go to the US Treasury Department and looking through the history of the total outstanding debt throught Clintons term. (…)

    Every year Clinton was in office, the total national debt continued to climb.

    How Clinton managed to claim a surplus was that while the general operating budgets ran deficits but Clinton borrowed from numerous off budget funds to make the on budget fund a surplus.

    For example, in 2000, Clinton claimed a $230B surplus, but Clinton borrowed
    $152.3B from Social Security
    $30.9B from Civil Service Retirement Fund
    $18.5B from Federal Supplementary Medical insurance Trust Fund
    $15.0B from Federal Hospital Insurance Trust Fund
    $9.0B from the Federal Unemployment Trust Fund
    $8.2B from Military Retirement Fund
    $3.8B from Transportation Trust Funds
    $1.8B from Employee Life Insurance & Retirement fund

    $7.0B from others

    Total borrowed from off budget funds $246.5B, meaning that his $230B surplus is actually a $16.5B deficit.

    ($246.5B borrowed – $230B claimed surplus = $16.5B actual deficit).


About BruceMajors

freelance writer at Daily Caller, The Hill, reason, Breitbart
This entry was posted in Bill Clinton, media bias. Bookmark the permalink.

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