In the 1990s the growth of computer commerce contributed to the surplus in the USA Treasury. Former President Clinton put an effort to increasing internet commerce and hence the taxes paid to USA treasuries brought about not only a balanced budget to the USA, but, an income to garner for future spending.
Stop and imagine a USA Treasury with a surplus as it existed then and extrapolate it into now. Imagine an USA Treasury with a surplus to draw on when Wall Street crashed and we desperately needed a stimulus to return stability to the USA economy.
Would it not have been far better to nurture an economy with a USA Treasury as a savings for the future. The bubble of the internet was played by the Clinton Administration for the very purpose of creating a surplus in the USA Treasury. If former President Clinton believed for one minute it was best to reduce the tax burden of Americans to increase economic growth he certainly would have and could have done that, but, instead he looked into the future and saw a greater demand on the USA entitlements that the economy might now supply. So, if the surplus could garner interest and grow the future of the entitlements were safe.
That didn't occur because the Republicans that entered the Executive Branch in 2001 had different views of what grows an economy, including vast wealth and a USA in debt. It is a foregone conclusion Republicans believe it is necessary to have debt in order to have a growing economy. In other words, the government has to spend money in order for the economy to make money and increase its growth.
