Quote:
Originally Posted by **********
When Clinton was president, he raised taxes and wiped out the debt.
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Clinton in retrospect was a great president. And definitely one of the smartest guys to hold that office in a long time.
Having said that....he also benefited from an incredible thing called the "internet bubble".
For the first time in decades an entirely new source of revenue came into being. People started making money on something that had not existed before: the internet.
I remember it very well and how the economy just took off. THAT is what really got the revenue to the federal govt. put into overdrive. And Clinton was smart enough to keep his hands off of it and let it run.
Of course the bubble burst in 1999. But it was a GREAT run while it lasted for sure. Lot of money was made (and that money was taxed).
Clinton also reformed welfare and actually cut a lot of govt. spending.
He also had a mostly peaceful tenure (exception of flinging some missiles at Bosnia and Iraq here and there)...so military spending was not only lower...but he actually CUT and closed a lot of military bases.