1995 budget agreement
The 1995 budget agreement was a significant compromise between the Clinton administration and the Republican-controlled Congress aimed at reducing the federal budget deficit. This agreement included measures to cut spending and reform welfare programs, while also raising the debt ceiling to prevent a government shutdown.
The deal was part of a broader effort to balance the federal budget by the year 2002. It marked a pivotal moment in U.S. fiscal policy, as it set the stage for future negotiations on budgetary issues and highlighted the ongoing conflict between Democrats and Republicans over government spending priorities.