Congress is the ultimate controller of the money. That's why even though Bill Clinton gets praised for a (almost) balanced budget and all that, the bigger part of that was the 1994+ Republican Congress pushing him to do it. Bill Clinton does deserve credit for doing his part, but the Republican Congress really pushed him on it.
That's incorrect. Clinton inherited unprecednted peacetime deficits from 12 years of Republican presidents. During his 8 years, he reduced the decifit a similar amount each year, gradually reducing it to zero. Here's the thing - his first two years he had a Democratic House and Senate, and he reduced the deficit about the same amount both of those years as he did the rest of the years. That shows pure Democratic government was reducing the deficit just as much - from the high levels of Republicans.
The real blast to your claim is that the Same Republican congress was in power after Clinton under Bush - and the deficits immediately skyrocketed again.
If it were about Congress, that wouldn't have happened.
Textbooks tell you about how Congress does the budget, and there's some truth to that, but as a practical matter, the President submits the draft budget each year, and his policies are clearly there. It could hardly be clearer about the role of the President when you look at the deficit with pre-Clinton, Clinton, and Bush - the Congress not having much effect.
But of course the Republicans would love to grab credit for the deficit reduction. Nevermind those pesky facts of Democrats doing just as much, and running it up starting 2001.
It's funny since Bill Clinton gets praise for those budgets when it's the Republican Congress who should get more of the praise, yet then it's the Republican Congress who gets the blame for lowering capital gains taxes A LOT, as well as repealing Glass-Steagall, while Clinton and Dems in Congress who voted for those things get off scot-free.
Just a reminder for everyone on that -- Bill Clinton lowered capital gains taxes more than Bush did, and Bill Clinton repealed Glass-Steagall.
Also, that lowering of capital gains I just mentioned? That coincides with the big "Clinton surplus" and the economic boom around that time.
What you got right:
There are three political factions involved: Republicans, non-progressive Democrats - call them centrists - and progressive Democrats.
Most Republicans and 'centrist' Democrats - including Clinton - supported bad policies like the repeal of Glass-Steagal. Clinton deserves and gets blame.
Most of the people on the 'correct' side of the issue were the progressive Democrats. They don't get the credit they deserve.
But you're wrong to credit capital gains tax reduction with deficit reduction - a more relevant policy was Clinton's tax increase on the top 2%.
Note that *every* Republican voted against Clinton's policy, and it passed by one vote.
That was an excellent test of who's correct on economic policies. Republicans lost.
Because that's how rigged things called "Baseline Budgeting" work. And that's how despite the "evil, horrible, world-ending" sequester was supposed to doom us all with its "massive cuts," no actual money was cut. The U.S. military budget will be bigger in 2016 than it is now.
Many things were cut, as we've discussed at length. Ask the cancer patients who are now denied treatment for a start.