Unconventional Wisdom: The Clinton Surplus Myth
Friday, March 5th, 2010
By FAIRFIELD “PINPOINT” EDWARDS
Editor’s Note: Unconventional Wisdom is a new series designed to unravel the misleading “conventional wisdom” of our times. In this edition, the Clinton Surplus Myth is examined by the numbers.
Everyone is aware of the perception that the Clinton years were a golden age of fiscal management and economic genius. First, let it be said that there was indeed an impressive period of surplus revenues during the Clinton years, especially in light of recent American history since the Great Depression and the New Deal. However, the entire set of numbers show a more complete picture and put the surpluses in their proper perspective.
Without further ado, here are the statistics (in millions because the numbers are so outrageously large):
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