Following a lengthy government shutdown, the debt limit is increased to nearly $6 trillion as part of the Balanced Budget Act of 1997. Other provisions in the legislation contribute to four consecutive years of federal budget surpluses, negating the need for lawmakers to raise the federal debt limit for several years.
Jul 8, 2016 ... "The difference between all the folks who talked and Donald Trump, is that he has had a lifetime of getting things done," Gingrich said. "Everybody else is talking about ... "We balanced the budget with the 1997 Balanced Budget Act, and ultimately had four consecutive balanced budgets." — Newt Gingrich ...
Months into his first term, he signed the Omnibus Budget Reconciliation Act of 1993, which raised taxes and set the stage for future budget surpluses. He also signed into law the North American Free Trade Agreement, a trade pact negotiated by President George H. W. Bush among the United States, Canada, and Mexico.
Sep 23, 2014 ... anced budget requirement: “Our Government will introduce balanced- budget legislation. It will require balanced budgets during normal economic times, and concrete timelines for returning to balance in the event of an economic crisis (p. 4).”1. While no details were provided in Budget 2014, we.
Although congressional Republicans had opposed Clinton's Deficit Reduction Act of 1993, a key aspect of the 1994 Contract with America was the promise of a balanced federal budget. After the end of the government shutdown, Gingrich and other Republican leaders acknowledged that Congress would not be able to draft ...
We balanced the budget with the 1997 Balanced Budget Act, and ultimately had four consecutive balanced budgets.