The big burst of spending under Reagan was largely an increase in the Defense Budget and the big decrease under Clinton was primarily the "peace dividend" that current Republicans decry. (Mitt Romney, among others, complains about the decrease in defense spending after the fall of the Soviet Union, a position that is prima facie insane.) Still, giving and taking in a way most favorable to Republicans, it's hard not to reach the conclusion that while Republicans may win the rhetorical war on the deficit, the Democrats do better in the real world. The reason for this is, I think, that Democrats are willing to tax in order to spend, while Republicans would prefer to borrow.
The data on the chart from the federal government, and the chart is lifted from this website.
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