Answer:
Clinton raised taxes, and his administration also benefited from a strong economy during the 1990s. The good economic performance was caused by the development of information technology, which raised workers' productivity.
The combination of higher taxes and more tax revenue because of the strong economy, led to the first budget surplus in 1998.
Bush cut taxes in 2001. He was advised to do so by former Federal Reserve Chairman Alan Greenspan, who said that the budget surplus should be use to cut taxes.
Despite the tax cut, Bush continue to benefit from a strong economy in 2000, and 2001, but after 9/11, the Patriot Act, and the Iraq and Afghanistan Wars, the budget suprlus finally became a deficit in 2003.
