2010-11-15, 05:13 PM
rayhovite Wrote:It wasn't just Bush. That budget surplus would have easily been wiped out even if Clinton had a 3rd term and kept his ENTIRE policy the same. Yes, Clinton was constantly pressured to spend, and held his ground regardless, leading to surpluses. But in hindsight, that could very well have been a mistake.
Bush inherited a $150 billion surplus, of which not a penny was spent by Clinton to proactively offset the impending tech bubble burst. This is something not even Harvard University's Kennedy School of Government will admit. Of course, Bush simply cut taxes hoping to ride that surplus for as long as possible, which was just as bad a mistake as Clinton's.
Keep in mind that surplus=/=out of debt. That $150 billion wasn't just sitting around doing nothing. We were still in debt at that point in time.
Old article with rather humorous statements from Bush and Gore