The above chart shows the year by reduction in the size of the deficit for 5 years, before The Republicans passed the "Balanced Budget Act" with President Clinton in Sept./ October 2007, i.e. federal fiscal year 2008 (the federal budget year starts in October of any given year).
Year
President
Budget
Deficit (in Bil.)
Reduction in Deficit (in Bil.)
1992
Bush II (last year)
n.a.
-$290
-
1993
Clinton &
Democratic Congress
Economic Recovery Act (March 1993)
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