On the recordJuly 22, 2010
I disagree with his philosophy, his fiscal premises. And his fiscal premises that were part of the last administration's approach to the finances of this country increased our deficit by 87 percent, from $5 trillion, essentially, a little over $5 trillion, to a little over $10 trillion. They didn't quite double it, but 87 percent more debt under the Bush administration. That I called fiscal child abuse. Why? Because it was not done at a time of fiscal crisis with large unemployment. That unemployment was caused by the policies of the last administration. Why do I say that? Because under the Clinton administration, we created 21 million jobs in the private sector, just a little short of 21 million jobs, 22.8 overall, when you include public employment. And during the Bush administration, how did it relate to that 20.1 million new jobs in the private sector? One million. How did it relate per month to job production? 216,000 under the Clinton administration, and 11,000 per month under the Bush administrations.
