In response to:

Newt and the Balanced Budget -- Media Used to Give Gingrich Credit

They said what?! Wrote: Sep 20, 2012 7:56 PM
While I agree with premise, Newt didn't balance the budget. Neither did Clinton. If you look at the real data from the OMB.gov website, you'll see the closest the budget has come closest to being balance was around '98 at 17 billion or so. I guess if you're rounding down in the billions. Great article on this by Greg Steiner in, err, townhall - http://finance.townhall.com/columnists/craigsteiner/2011/08/22/the_clinton_surplus_myth/page/full/.
Stephen37 Wrote: Sep 21, 2012 12:09 AM
While that is true, as I frequently point out to anyone who will listen, what is ALSO true is the 30 year bond was retired and we were actually paying DOWN our debt, arguably more important than a single, or even a few, balanced budgets.
Polly1 Wrote: Sep 21, 2012 12:25 AM
If there is a budget DEFICIT, the debt has been added to, not reduced. It has been many decades since we have "paid down" our debt.
Stephen37 Wrote: Sep 21, 2012 12:09 AM
While that is true, as I frequently point out to anyone who will listen, what is ALSO true is the 30 year bond was retired and we were actually paying DOWN our debt, arguably more important than a single, or even a few, balanced budgets.
h20skier2 Wrote: Sep 20, 2012 9:36 PM
Steiner explains exactly how there never was a balanced budget under Clinton. It is a very good article.
When Bill Clinton spoke at the Democratic National Convention, he took credit for balancing the budget. That Clinton basked in his achievement, of course, surprises no one. Nor is it surprising the media failed to remind people of former House Speaker Newt Gingrich, R-Ga., and his role in pulling this off.

Still, at one time, the media, without reservation, gave credit to Gingrich for making a balanced budget a priority -- and for pushing Clinton toward the center to achieve it. Back then, even when writing negatively about Gingrich, the major media routinely credited Gingrich with pushing a recalcitrant...