I think the Clinton Boom just proves the progressive case. Raise taxes on the rich. Change laws and regulations designed to bring jobs back. Get the people back to work and give them a much bigger piece of the pie. Spread the wealth around. The people produce more and they should get more of the benefit of that production, not work like serfs while the rich party. Get the economy up and running, benefiting the most, not the already wealthy few. In a few years, you're back in surplus.
On the other hand, blame it on the government (or Obama) and do everything you can to bring it down and throw out roadblock after roadblock, install more austerity and more tax breaks for the rich, and you will assuredly drive the U.S. into default.