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12/31/2003 Entry: "The Clinton/Gore Surplus - seems like another lifetime"

"-1993 Plan - $500 Billion in Deficit Reduction: When President Clinton and Vice President Gore took office, the deficit was $290 billion and expected to grow to $455 billion by 2000. The 1993 economic plan contained $500 billion of total projected deficit reduction over five years, including $255 billion in spending cuts. Even before the Balanced Budget Agreement of 1997 took effect, the deficit had been cut to $22 billion in FY 1997, a 92 percent drop.

"- Paul Volcker, Former Federal Reserve Board Chairman: "The deficit has come down, and I give the Clinton Administration and President Clinton himself a lot of credit for that. [He] did something about it, fast. And I think we are seeing some benefits." [Audacity, Fall 1994].

"- Today - On Track to be Debt Free by 2012: Today we have turned the largest deficit in history into the largest surplus in history and, under the Administration's budget framework, we are on track to be debt free by 2012 for the first time since Andrew Jackson's administration."
President Clinton and Vice President Gore's Economic Plan: Building the Path to Prosperity for America's Families, 2000 White House Education Press Releases and Statements, August 5, 2000

"The Outstanding Public Debt as of 01 Jan 2004 at 05:33:25 AM GMT is: $6,960,225,895,218.28

"The estimated population of the United States is 292,918,319 so each citizen's share of this debt is $23,761.66.

"The National Debt has continued to increase an average of $1.91 billion per day since September 30, 2003."
U.S. National Debt Clock, December 31, 2003 (also The Debt To the Penny, at www.publicdebt.treas.gov.

Does this make anyone else want to cry?

 

 

 

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