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From Comments - this is an excellent point and might I add part of the booming 90's was really a bursting bubble!

Oh and how about the trillion dollars 9/11 cost the economy.

I think the surplus and deficit is more related to the economy than any particular change in spending from year to year. There's no doubt that if government cut back on spending, we could get rid of the deficit. However, in practice that never happens. What DOES happen is that tax revenue goes up or down depending on the state of the economy. During the Clinton years, the economy was booming, and we had a surplus. The economy went on the decline towards the last year of Clintons second term, leaving Bush set-up for a budget deficit. - Scutter

DKK