The Era of Big Goverment Apparently WAS Over

According to the CBO, federal expenditures represented nearly 23% of the country's GDP in 1992. By 2000, that statistic had shrunk all the way to 18% (the end result of Newt Gingrich and Erskine Bowles sitting down and rolling their collective sleeves up). This whole notion that the government was somehow able to balance its budget predominantly via tax increases in the 1990s is nothing but pure partisan revisionism (not to mention the fact that it ignores how capital gains taxes actually went down during that era).