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. (http://www.treasurydirect.gov/…)


    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).

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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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