Republicans point to a U.S. Treasury website where it shows the debt increasing. Yes, Reagan's debt needed to be re-financed.
From their very own web site, George W. Bush's Secretary of the Treasury, Paul O'Neill talks about those very surpluses they deny.
On page 4 it says; (page 6/32 of the pdf file) or search for 'budget surpluses over the past 3 years'
As a result of Treasury's actions, debt held by the public and managed by the Bureau of the Public Debt, has been reduced by approximately $376 billion since September 1997, with about $229 billion of this decrease occurring in fiscal year 2000."