"at this pivotal moment in American history, it’s essential that we understand how we got into this deficit crisis in the first place and who was responsible for it. More important, we must address the deficit in a way that is fair and does not balance the budget on the backs of the elderly, the children, the sick and the poor — people who are already hurting.
Let us never forget that when Bill Clinton left office in January 2001, this country enjoyed a healthy $236 billion surplus, and the projections were that this surplus would grow by a total of $5 trillion over a 10-year period.
What happened? How did we go from a significant federal budget surplus to a massive deficit? Frankly, it is not that complicated."
