On the surface it could appear that way. But in reality Slick Willy was playing a shell game with social security funds AKA stealing from Peter to pay Paul. But once 911 hit that game didn't work. Bushwhacker tried it even though he campaigned that he wouldn't. Frikin politicians.
While the 90s weren't terrible there was still an imbalance. The time period from 1976 to 2001 was good. No major issues to deal with from mid 1973 until 911. Add in gridlock in the early 90s and spending was curtailed to some degree.
If I recall 2015 or 16 had a surplus but I doubt that could past the litmus test.
I did jump ahead of myself with the 1830s comment. Was reading some papers my grand father left with me. In them it talks about a financial issue in 1837. Mid 1860s things improved going into the 1870s. Then a real estate bubble. In the 1920s we were again gaining after paying off WW1 and on and on. In most it explains the why and hows, which interests me.
What stood out to me about 1836 was most of that surplus was given to the states versus any tariff cut. It was argued for several years. The pay out amounts depended on the states population. Some suggestion it was paid out in quarterly installments. In some areas public schools benefited the most. In a few cases the funds for schools lasted well in the 1860s. Most of this money was from the sale of land and tariffs.
The irony is this event helped lead to a financial panic in 1837.
I continue to believe if we don't learn from our past, we'll learn nothing. Like the headless chicken farm in DC that worsens every cycle. Career politicians suck.
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