Part IV: Republican Conservatism: Unfit To Govern: The Bill Clinton Years

William J. Clinton took office as the 42nd President in January of 1993 after defeating a sitting President, George H.W. Bush who was seeking reelection. The big issue during the campaign was the economy and the future. Clinton's campaign theme song was "don't stop thinking about tomorrow" and that indicated what his plans for the country were. After 12 straight years of so called conservative leadership under the Reagan and Bush administrations that left the country with 12 straight years of record deficit spending and debt, Clinton made a committment to not only reduce deficit spending but to balance the federal budget. Unlike Reagan and Bush, Clinton had an economic and deficit reduction plan and policy that was introduced to the democratic controlled congress and passed with out one single republican vote in the house or senate. They predicted doom and gloom, record job losses, failed economy and high unemployment and of course history has recorded just the opposite. That economic plan was spoken about often during the campaign and showed Clinton's knowledge about the economy and the federal budget. History has also recorded how well that plan worked for the economy and our government's fiscal house. Lets recap what happened during Clinton's eight years in office. The Clinton administration after his very first budget year in office reduced the federal deficit from the previous year and then reduced the federal deficit every year his first 4 years in office. No other administration had accomplished that in over 50 years. Clinton's first 4 budget deficits totaled $$496.5 Billion. His last 4 budget years were all surpluses totaling $558.9 Billion. His 8 years in office surpluses exceeded his deficits by $62.4Billion. His administration also paid down $450 billion of the national debt, the first time in over 50 years the national debt was paid down by any President. When George H.W. Bush left office after 4 years the national debt at his last fiscal year budget stood at $4.411 trillion. When Clinton left office after 8 years the national debt at his last fiscal year budget stood at $5.807 trillion, and increase of $1.395 trillion or 31.6%. Total federal spending when Bush last fiscal year budget ended was $5.368 trillion. Total federal spending when Clinton's first 4 fiscal years ended was $6.139, an increase of $771 billion or 14%. Total federal spending when Clinton's last 4 fiscal years ended on 9/30/01 was $7.007 trillion, an increase of $867 billion or 14%. The numbers show that the Clinton administration had federal spending under control and that federal spending on his watch was minute compared to the large increase in federal spending under the Reagan and Bush administrations. Clinton also put the people and the nations fiscal house in order. When President Clinton left office the federal reserve was actually talking about the federal government being able to pay off its entire national debt because of the projected future surpluses and because the nations fiscal house was in such good shape. It was said that Clinton knew more about the federal budget than members of congress who had been there for a lifetime. President Clinton was fit to lead the country fiscally. Sadly, all of that changed with the election of George W. Bush who reversed all that Clinton had accomplished and it all started in Bush's very first year in office. Stay tuned for Part V, The George W. Bush years.