I’m simply going to post two clippings and one graph here. Here’s one from 2000:
President Clinton announces another record budget surplus
From CNN White House Correspondent Kelly Wallace
September 27, 2000
Web posted at: 4:51 p.m. EDT (2051 GMT)
WASHINGTON (CNN) — President Clinton announced Wednesday that the federal budget surplus for fiscal year 2000 amounted to at least $230 billion, making it the largest in U.S. history and topping last year’s record surplus of $122.7 billion.
And, here’s one from 2008:
White House projects record deficit for 2009
updated 6:27 p.m. EDT, Mon July 28, 2008
WASHINGTON (CNN) — President Bush’s budget chief blamed the faltering economy and the bipartisan stimulus package for the record $482 billion deficit the White House predicted for the 2009 budget year.
Here’s the graph, which is based on U.S. Treasury data (linked). Note that the amounts on the left are in billions of dollars, so $1,100 equals $1,100,000,000,000 or “one point one trillion dollars.”