From 1961 to 2000 there were only four years when the government didn t spend more than it collected from taxpayers. The other year was 1969. In every other year, there was deficit spending. Let s look at spending during that awful decade of greed. And remember, revenue was rising dramatically during those years.
Figures don t lie.
The bare truth is that while the government was collecting enormous amounts of tax dollars, politicians were spending it like drunken sailors on shore leave. Deficits or surpluses are created by Congress, not the president. To be sure, the president can veto and can urge policy. I think Reagan probably asked for too much defense money. He probably should have vetoed some spending bills.