It certainly boosted Clinton's approval ratings in the mid 1990s. What's interesting is that at least for taxes, the GOP **has** to negotiate. If nothing gets done (yay gridlock!!) the tax rates go back up Jan 1. Might be interesting to watch...
As did Reagan have to work with a Democratic Congress and they did OK in some respects.
This was mentioned on one of the news shows and the point was made that the difference then was that Clinton certainly did not like Newt and the other Republican leaders and Reagan did not like Tip O'Neil but they had a certain amount of respect for each other professionally and had mastered the most crucial of political talents...compromise.
Today it's just hatred, stubborness and ego. Witness the Party of No. No class and no willingness to debate vigorously yet repsect the other point of view, no matter how flawed you think it is.
Maybe Linda McMahon would have been a perfect fit...
^^^ Also keep in mind that much of the "balanced budget" (not really, after accounting for SS IOUs) was due to the fact that Clinton RAISED taxes in 1993 before the GOP swept into power. So we had an influx of revenue, and the GOP fought hard to ensure that spending was kept under control.
Now we're in a similar situation, but without the tax increase. There's no way the budget can be anywhere close to balanced without either a) gutting SS/Medicare (and by that I mean like NOW, as opposed to the gradual reduction like Paul Ryan's roadmap) *and* b) gutting the Dept of Defense.
^^^ Also keep in mind that much of the "balanced budget" (not really, after accounting for SS IOUs) was due to the fact that Clinton RAISED taxes in 1993 before the GOP swept into power.
He was also serendipitously riding one of the most rapid periods of economic growth (bubble) in human history... that was certainly helpful to tax receipts as well.
He was also serendipitously riding one of the most rapid periods of economic growth (bubble) in human history... that was certainly helpful to tax receipts as well.
He was also serendipitously riding one of the most rapid periods of economic growth (bubble) in human history... that was certainly helpful to tax receipts as well.
Oh yeah, and totally unrelated, but found this while looking for that graph: The Heritage Foundation's estimate of additional tax revenue brought in by the GWB tax cuts, dated 2001.
As a followup to this, Eric Cantor put out a 22-page proposal for Republicans, in which was this gem (used as an example to cut Medicare and Social Security):
Fast Fact
Over two-thirds of Republican voters believe the budget can be balanced without reducing spending on Social Security or Medicare.
Barely an hour after President Barack Obama invited congressional Republicans to post-election talks to work together on major issues, the Senate's GOP leader had a blunt message: His party's main goal is denying Obama re-election.
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