| − | The economy proved highly prosperous, and Clinton not only balanced the budget but produced the first surplus in memory. The reasons include reduction in defense spending after the Cold War (from 5% of GDP to 3%), a revenue burst from the dot-com bubble (the short-lived overexpansion of high tech), and restraints onspending imposed by the GOP Congress. | + | The economy proved highly prosperous, and Clinton not only balanced the budget but produced the first surplus in memory. The reasons include reduction in defense spending after the Cold War (from 5% of GDP to 3%), a revenue burst from the dot-com bubble (the short-lived overexpansion of high tech), and restraints on spending imposed by the GOP Congress. |