I don’t think Federal spending declined even once during Newt Gingrich’s tenure as House Speaker, though the growth from one year to the next was quite small. The shrinking of the budget deficit was entirely a function of added tax revenues from the major changes in the tax code from 1995 to 1998 — specifically the reduction in capital gains tax rates and the introduction of the Roth IRA.
Exactly right. A “balanced budget” was a technicality-—Newt/Clinton achieved a tiny surplus on paper, but did nothing to touch the debt.
And the excessive cuts to the military.