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Newt Gingrich: “I balanced the budget for four straight years, paid off $405 billion in debt — pretty conservative. The first entitlement reform of your lifetime — in fact, the only major entitlement reform to now is welfare.”
Iowa Debate Fact Check
Seeded on Sat Dec 17, 2011 6:50 AM EST
Article Source: alan.com - in Liberaland Glenn Kessler- Enjoy this article? Help vote it up the 'Vine.
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Fact:
…the budget was balanced in part because of a gusher of tax revenues from Clinton’s 1993 deficit reduction package, which raised taxes on the wealthy and which Gingrich vehemently opposed. The budget was also balanced because the Democratic White House and Republican Congress were in absolute legislative stalemate, so neither side could implement grand plans to increase spending or cut taxes.
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