>I'm a millennial moron: the post
Tax reform of 1986 -- President Reagan and Ways and Means Chairman Danny Rostenkowski teamed up across party lines to reform the tax code, increasing revenues, eliminating loopholes.
Gramm-Rudman(-Hollings) -- threats of Sequestration (across the board spending cuts) held down the spending ceiling, though executive sequestration (though the Comptroller) was eventually held to be a violation of separation of powers and this unconstitutional
Bush Deficit Reduction Act of 1991 -- President Bush and Democrats came to a deal increasing taxes and cutting spending (conservatives today allege this spending wasn't cut, can someone confirm?)
Clinton Road to Surplus
By the time President Clinton assumed the office, he inherited a trajectory from Presidents Reagan, Bush (would be more noticeable without the Gulf War) and Congressional Democrats for a diminishing national deficit--a good position but certainly no guarantee.
From there, working with Congressional Dems until 1994, then Republicans in the House, he increased marginal tax rates, cut military spending as a 'peace dividend, cut welfare spending through reforms with Speaker Gingrich.
Note he did not massively cut social spending, state aid, or federal workers. Or use the improving trajectory as an excuse to cut taxes on the wealthy. Ahem.
Near the end of his term, the economic boom was so strong--to be fair, no strong correlation to his policies, according to modern economic theory, as government has a primarily counter cyclical role--combined with the higher marginal rates, money poured into government coffers.
By 2000, on the cusp of the Bush presidency, the annual budget deficit had been replaced by a surplus, though the federal debt only had a short time of reduction before the fiscal disaster of the Bush presidency began.
>+what was the dot com boom?
Dems ALWAYS take credit for what they didn't accomplish - it's the only way they ever stay in power.