Obama will follow Clinton's playbook after his '94 defeat

An article in today's Wall Street Journal talked about Clinton's comeback after the Democrats were trounced in the 1994 elections. I believe, without doubt, that this will become Obama's playbook for the rest of his term. That's bad for the economy, here's why:

"...Famously, of course, he [Clinton] left behind efforts to overhaul health care. Then, in 1995, Mr. Clinton went against his party's orthodoxy by embracing a plan to balance the federal budget. And in 1996, he moved against Democratic orthodoxy again, by embracing a plan for wholesale changes to the welfare system."

A technology boom at the time masked the real destructiveness of the budget balancing, which ultimately led to a collapse in private savings. (By definition, if the gov't runs a surplus, the private sector must run a fiscal deficit.) However, Obama has no technology boom. In fact, he has nothing supporting this economy with the EXCEPTION of gov't spending and he's about to cut that!