On the recordJune 17, 2005
This is exactly what you were talking about just before I arrived here. This is the chart of the deficits over the past probably 40 some years, since the Johnson administration. We ran a pretty tight budget for a good many years. And into the Reagan administration you see a deep, deep dip, and into the Bush administration, and we were running $300 billion deficits every year. And then when President Clinton came in with a Democratic House, with a Democratic Senate, in 1993 passed a budget without one Republican vote. Al Gore came to the Senate to break the tie to vote for it. And it led to record surpluses in the United States of America. This is where we were in the late 1990s; and back with the current President, back into an era of deficits, of borrowing money from the Chinese, borrowing money from Asian countries, putting in jeopardy the future of many of the young people who live in this country today.
Source
govinfo.gov




