Yes, we had a "projected" balanced budget under Clinton, along with a republican held House and Senate that reformed the Welfare state and put a 2 year limit on it. I don't see anything in the Obama plan for this country that in anyway comes close to Clinton's acceptance of spending cuts.
GWB will go down in history as the second biggest liberal president in our nation's history...right behind BHO.
This isn't a liberal or conservative problem. Its a math problem. This year, for the first time in the history of this country, the national debt exceeds the annual GDP. The local state and federal unfunded entitlement costs are growing at 20% a year, and the economy is only growing at 3% a year. Taxes on GDP cannot keep the beast fed.