The Clinton administration delivered the nation into the 21st century with a record budget surplus. In eight years, President Bush and Republican Congresses squandered the budget opportunities they inherited and turned them into the worst deficits in American history. By implementing failed fiscal policies, the Bush Administration was responsible for depleting the surplus and creating the five largest deficits in our nation’s history.
Not only does this legacy tie our hands and make it harder for us to confront the current economic crisis, it means that President Obama and Congress will have to make difficult choices, and the American people will have to make shared sacrifices to get our budget back under control and put our nation back on a sustainable path to economic growth.
Read more about how Democrats will work through these challenges and return this nation to budgetary sanity.