I think that perhaps some elements of history have been forgotten. We don't want to dwell on the past, but those who don't learn the past are usually destined to repeat the mistakes of the past. When President Clinton left office, he left President Bush a surplus and he left him with a national debt, accumulated since the time of George Washington, of $5 trillion. Eight years later, when President Bush left office, he left President Obama--who has been President for 2 weeks and 2 days--with the biggest deficit in recent memory, $1 trillion, and a national debt that had doubled under the Bush administration. I ask the Senator from New York if he is familiar with the fact that the debt incurred under the Bush administration comes down to $17,000 for every man, woman, and child in America, for the 8-year period of that administration?
Editor's note · Context
Discussing the national debt and budget deficits during a debate on economic policy.
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