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Did Clinton ever attain zero debt?
Yes, the United States had a surplus under Clinton. No -- the answer above confuses the "debt" with "annual deficit." Yes, Clinton ran an annual budget surplus during certain years of his administration, but no, he did not attain "zero debt." That term refers to the accumulated debt of the U. S. since the 18th century, and Clinton added somewhere between $1.6 trillion and $2 trillion to the debt between 1992 and 2000. For comparative purposes, during the 12 years of the Reagan and first Bush administrations, about $3.2 trillion was added to the debt, and during the 8 years of the George W. Bush administration, about $4.4 trillion was added. -Tedwin223 Improved answer. Actually Bill Clinton gave us a Surplus, giving us SPENDING MONEY! When Bush came into office we plunged into debt and got a trillion dollar deficit.
What are the causes of the debt crisis?
Government interference in the free enterprise mortgage market. Putting pressure on banks to issue mortgages to unqualified buyers, starting with the Carter Administration and greatly expanded during the Clinton Administration. Many people spending more than they make thinking because they have credit cards and checks they have money.
Which New Deal agency was most effective in aiding farmers during the Depression?
the agricultural adjustment administration
Why was there growing inflation during the Nixon administration?
The Vietnam War had increased the federal deficit.
What happens during a economic expansion?
What increases, decreases and stays the same during a economic expansion? Choices: tax revinue, consumer income, budget surplus, aggregate demand, budget deficit, aggregate supply, real GDP, corporate profits
What year did bill Clinton balance the budget?
Bill Clinton did not technically balance the budget during his presidency. However, he did make significant progress in reducing the federal deficit, and his administration projected a balanced budget for fiscal year 1999. Ultimately, it was during the presidency of George W. Bush in 2001 that the United States experienced a brief period of budget surplus.
What the economy during the Clinton administration?
Budget deficits continued to rise during the Clinton years.
Who was in the majority the house and senate during Bill Clinton 2 terms?
No he did not have majority in the house and senate when he balanced the federal budget and had a surplus!
Did Americans receive universal health care during the Clinton administration?
no
What was the total number of jobless Americans during the Bill Clinton administration?
760,000
What did George Tenet do during Clinton administration?
Escalations in American nuclear weapons
How did the US have a balanced budget during the Clinton Years and still had an increase to Federal debt?
During the Clinton years, the U.S. achieved a balanced budget primarily through a combination of increased tax revenues, particularly from higher income tax rates on the wealthy, and effective spending control measures. However, even with a balanced budget, federal debt continued to rise due to the issuance of new debt to cover previous deficits and obligations, such as Social Security and other entitlements. Additionally, the government used surplus revenues to pay down some debt, but not to the extent of eliminating it entirely, leading to an overall increase in federal debt levels.
Which republican president balanced a budget?
Dwight Eisenhower was last Republican President to preside over a balanced budget. He had a balanced budget in 1956 and 1957. Since then, there have been two presidents to preside over balanced budgets, LBJ in 1969 and Clinton in 1998 through 2001. During the last 40 years there have been five budget surpluses, all five were under Democratic Presidents: 1969, 1998, 1999, 2000, and 2001. To clarify, congress authorizes the budget. Between 1955 and 1981 Democrats held majorities in both chambers of Congress. From 1981 - 1987 republicans controlled the Senate, while Democrats held onto the House and then regained the Senate while holding controlling the House as well from 1987 -1995. So the question is misleading in that the president alone cannot balance a budget. Congress has authority over financial and budgetary matters. One point that is often misunderstood is that the budget for a President's first year in office is set by the prior President. Thus the balanced budget of 1969 was due to LBJ's budget even though Nixon was president for most of the year. Eisenhower actually also balanced it in 1960. Before him there were three years after WWII b/c the war spending had stopped but the taxes and war controls were still in place. Before that it was Hoover in 1930 and before that it was Coolidge 1924-1929 (last president to balance it every year) and Harding 1921-1923.
What did Bill Clinton veto?
During his presidency, Bill Clinton vetoed more than 30 bills, including significant legislation such as the Republican-led welfare reform bill in 1995 and various budget bills that he deemed harmful to social programs or too costly. One notable veto was of the Balanced Budget Act of 1995, which he argued would disproportionately affect low-income families. Clinton's vetoes often reflected his commitment to maintaining social safety nets and his desire for a more balanced approach to fiscal policy.
What in the federal budget system is the phase where you submit a balanced president's budget?
The phase in the federal budget system where a balanced president's budget is submitted is known as the "budget proposal" or "budget submission" phase. During this phase, the President presents a comprehensive budget plan to Congress, detailing recommended spending and revenue levels for the upcoming fiscal year. This proposal aims to reflect the administration's priorities and fiscal goals while adhering to budgetary constraints. Following submission, Congress reviews, amends, and ultimately approves the budget before it is enacted.
Which two nations were American embassies bombed during the Clinton administration?
Kenya and Tanzania
What happened to the Graham Rudman Act?
Part of the Act was declared unconstitutional in 1986. The law itself was reworded in 1987, but the Balanced Budget Act of 1990 effectively killed the law in its application. However, the original Gramm-Rudman Act sparked an initiative that did lead to somewhat balanced budgets during the latter part of the Clinton Administration. Even today, spending caps - one of the fundamental concepts of the original act are still in law today.
