Quote:
Originally Posted by PaulS
Yup, your the smart one and Bush did not quickly take a surplus and turn it into a deficit  |
The "surplus" was already reduced by half during the last half of Clinton's term due to the burst of the dot.com bubble. The decline merely continued during the first half of Bush's first term before the economy rebounded and roared again until the housing "bubble" (which expanded due to pre-Bush policies) exploded.