Q: During the Clinton administration was the federal budget balanced? Was the federal deficit erased?<quoted text> Clinton NEVER left a surplus. He left a PROJECTED surplus that never materialized. At least be honest with the facts whether you're a republican or democrat. Nothing worst than a liar.
A: Yes to both questions, whether you count Social Security or not.
Please know the difference between debt and surplus.
Clinton’s large budget surpluses also owe much to the Social Security tax on payrolls. Social Security taxes now bring in more than the cost of current benefits, and the "Social Security surplus" makes the total deficit or surplus figures look better than they would if Social Security wasn’t counted. But even if we remove Social Security from the equation, there was a surplus of $1.9 billion in fiscal 1999 and $86.4 billion in fiscal 2000. So any way you count it, the federal budget was balanced and the deficit was erased, if only for a while.
Under accrual accounting, the annual reports showed surpluses of $69.2 billion in fiscal 1998,$76.9 billion in fiscal 1999, and $46 billion for fiscal year 2000. So even if the government had been using that form of accounting the deficit would have been erased for those three years.