US Debt Service Costs
It’s pretty simple really. With little to do with government.I don’t blame Clinton for the Tech bubble or resulting recession. Lots of overly bullish people pouring billions into new technologies causing valuations and expansion which weren’t supported by market fundamentals. Going by memory but wasn’t it Alan Greenspan who went on for months warning about the impending Tech crash. No one listened of course until the bottom fell out. The recession of course followed.
Spending cuts were largely the resulting peace dividend from the break up of the USSR under Reagan. The boogie man was now gone defense cuts were justified.
The mid to late 1990s saw historically low energy prices with the greatest single technological innovation since the steam engine. Economic productivity and efficiency rose to unheard of levels while operating costs were at historic lows. The economic gains gave us unheard of tax receipts. Government had nothing or very little to with the success in the 1990s.
If you think Biden had nothing to do with this inflation, then you must believe that Clinton had nothing to do with the surplus.