There is a lot of talk about going back to Clinton-era tax rates to achieve fiscal solvency. But how about going back to Clinton-era spending levels, too? […]
When Clinton left office in January 2001, total spending was close to $2 trillion, and the federal government registered a surplus of $142 billion in real terms. In fiscal 2012, federal spending was $3.2 trillion, and our deficit was $1.1 trillion.
I was a kid when Clinton was in office, but I was old enough to remember lots of anger at “Slick Willy.” Now, I’d wager, there are quite a few erstwhile Clinton haters who are suddenly feeling nostalgic for the late 90s.
I don’t want taxes to go up, of course, but for this much of a spending cut it just might be worth it. More info here.