I wish it were that simple, but ignoring the main reason we had surpluses doesn't mean its going to happen again.Professor Tiger wrote:I want Clinton back as President and Newt back as Speaker. They remain the fiscal Dream Team of the past 40 years.
Bush, McConnell and Boehner were big borrowers and spenders. Obama, Pelosi and Reed were bigger borrowers, bigger taxers and catastrophic spenders.
The internet age led to tens of millions of high paying jobs requiring well educated people (aka non-union HEH). Those biz and employees CREATED wealth that was taxed and led to huge increases in revenue that DC didn't expect. Therefore it took them a little time to figure out how to spend it and when they did the dot com crash occurred and Y2K spending evaporated.
Throw in VERY low energy prices and relative peace (less military spending pressure) and you get surpluses with Newt and Bill.
I'm sure some other enormous market is out there waiting to be tapped, but nobody knows what it is yet.