How much did Clinton reduce the national debt?

When was the last time the US budget was balanced?

The U.S. federal budget was last balanced with surpluses from 1998 to 2001, during President Bill Clinton's administration, marking the most recent period of fiscal balance with four consecutive years of surpluses, though some sources point to 2001 as the final year of that balance before deficits resumed. This rare achievement followed a bipartisan Balanced Budget Act and benefited from a strong economy and the post-Cold War "peace dividend". 

How did Clinton's presidency affect the US?

President Clinton oversaw the second longest period of peacetime economic expansion in American history. Months into his first term, he signed the Omnibus Budget Reconciliation Act of 1993, which raised taxes and set the stage for future budget surpluses.

When was the last time the US had no deficit?

The U.S. federal government last had a budget surplus in Fiscal Year 2001, meaning it collected more in revenue than it spent, with the trend of annual deficits continuing every year since then. This period of surpluses (1998-2001) occurred under President Bill Clinton, driven by a strong economy, tax increases, and spending restraint. 

Was Bill Clinton considered a good president?

Whether Bill Clinton was a "good" president is a complex question with varied perspectives, but his presidency is often viewed positively for a long economic expansion, budget surpluses, and decreased crime/unemployment rates, alongside major bipartisan welfare reform, while his legacy is also marked by his impeachment scandal and debates over foreign policy choices like Rwanda, leading to mixed historical rankings but high public approval ratings at the end of his term. 

Why was the federal deficit so high in 2020?

In the 2020 budget year, the deficit hit a record of $3.1 trillion as spending soared to help the economy weather the Covid-19 pandemic. In the latest fiscal year, there was a near 30% rise in spending on interest on the public debt, largely due to higher interest rates, the Treasury noted. It topped $1 trillion.

What did Reagan do to the national debt?

During Reagan's presidency, the federal debt held by the public nearly tripled in nominal terms, from $738 billion to $2.1 trillion. This led to the U.S. moving from the world's largest international creditor to the world's largest debtor nation.

Who owns most of the US national debt?

Domestically, intergovernmental holdings (social security trust funds, medicare trust funds, federal employee retirement and disability funds) control about 20% of our debt, The Federal reserve (U.S. Central bank) holds approximately 13% of our debt and domestic private investors control 42-50% (retirement accounts, ...

When was the last year the United States was debt free?

The last time the U.S. was entirely debt-free was in 1835, under President Andrew Jackson, a unique event in American history that lasted only about a year before borrowing resumed. While the national debt has fluctuated, with periods of reduction like the late 1990s, 1835 remains the sole instance of zero national debt. 

Who was the only president to pay off debt?

The only U.S. President to pay off the national debt was Andrew Jackson, who achieved this milestone in 1835, marking the first and only time the U.S. was entirely free of interest-bearing debt, though it quickly returned due to economic conditions and later borrowing. 

What was Bill Clinton's national debt?

Growth of the national debt

As of January 07, 2026, total gross national debt is $38.43 trillion. Debt held by the public is $30.81 trillion. Intragovernmental debt is $7.62 trillion.

What was the budget surplus of Clinton Gore?

The estimated surplus of at least $230 billion follows a surplus of $124 billion in FY 1999 and $69 billion in FY 1998. The last time America had three surpluses in a row was over fifty years ago in 1947-49.

What exactly did Monica Lewinsky do with Bill Clinton?

Bill Clinton, then U.S. President, and Monica Lewinsky, a White House intern, had a sexual relationship from 1995 to 1997, which involved physical intimacy, phone calls, and gift exchanges, leading to President Clinton's impeachment by the House of Representatives for perjury and obstruction of justice after he initially denied the affair publicly. The relationship, which Lewinsky later described as a "gross abuse of power," was exposed through secret tapes recorded by Linda Tripp and DNA evidence from a stained dress, ultimately revealing the truth despite Clinton's denials and resulting in his impeachment trial. 

What president had the highest economic growth?

Determining the "best" economic growth under a U.S. President depends on the metric (GDP, job creation, wages) and time period, but Bill Clinton (strongest peacetime growth in decades), Ronald Reagan (significant post-recession rebound), and Franklin D. Roosevelt (leading through the Great Depression and WWII) are often cited, alongside recent strong starts for Donald Trump (pre-pandemic) and Joe Biden (post-pandemic recovery), highlighting diverse eras and challenges. 

Who was the most educated US president?

The most educated U.S. President is Woodrow Wilson, the only one to earn a Ph.D., which he received in History and Political Science from Johns Hopkins University, also serving as President of Princeton University before his presidency. Other highly educated presidents include James Madison (Princeton, Law), John Quincy Adams (Harvard), John Adams (Harvard), and modern presidents like Barack Obama (Columbia, Harvard Law) and George W. Bush (Yale, Harvard MBA), but Wilson's doctorate sets him apart academically.
 

Did Trump have a surplus in June?

The U.S. Treasury has reported a budget surplus of $27 billion for the month of June—the first time since 2017. This is excellent news for our economy and a signal that President Trump's pro-growth policies are on the right track!

What would happen if all national debt was paid off?

If the U.S. paid off its national debt, it would trigger an economic crash and depression, as Treasury bonds, the debt itself, act as a bedrock "risk-free" asset for the entire financial system, essential for savings, pensions, and bank reserves; removing them would wipe out savings, collapse asset valuations (like 401ks), halt government services, and destroy confidence in the dollar, though some argue freed-up interest payments could fund programs or cut taxes over time. 

Which country has zero debt?

No country has absolutely zero debt; it's practically impossible for a functioning modern economy, but some, like Macao SAR and Liechtenstein, have negligible debt relative to their massive revenues or have near-zero debt-to-GDP ratios due to strong financial reserves and fiscal discipline, while oil-rich nations like Kuwait, Brunei, and Turkmenistan also maintain very low levels. These entities manage debt strategically, using it as a tool for growth, but some small nations with unique revenues or policies can minimize it significantly. 

Did Clinton use Make America Great Again?

Yes, Bill Clinton used the phrase "make America great again" during his 1992 presidential campaign, famously declaring it when announcing his candidacy in Little Rock, Arkansas, on October 3, 1991, though the slogan was originally popularized by Ronald Reagan in 1980 and later used by Donald Trump. 

What led to the downfall of the Clinton health Plan?

The Clinton healthcare plan failed due to its extreme complexity, making it hard to explain, and intense opposition from special interest groups (like insurance companies) who ran effective ad campaigns ("Harry and Louise"), while the secretive White House task force alienated Congress, leading to a lack of bipartisan support and fragmentation within the Democratic party itself, ultimately stopping the sweeping bill in Congress. 

What are Clinton's biggest accomplishments?

• Longest economic expansion in American history. ...
• More than 22 million new jobs. ...
• Highest homeownership in American history. ...
• Lowest unemployment in 30 years. ...
• Raised education standards, increased school choice, and doubled education and training investment. ...
• Largest expansion of college opportunity since the GI Bill.