Government Spending and the “Bill Clinton Surplus”

During this election year, politicians and journalists are talking a great deal about the federal deficit, and what should be done to reduce it. Liberals claim that there’s a need for “revenue improvements,” a¬†euphemistic way of saying tax rate increases. Conservatives and libertarians tend to suggest cuts in the rate of government spending.

A glance at recent history shows that the conservatives and libertarians stand on firmer ground.
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