Posted on 03/09/02
Bush's deficit disorder
It's an understatement to say the bloom has gone off Bill Clinton's budget-surplus rose. The entire rose garden has gone to seed.As Mr. Clinton prepared to move out of the White House less than two years ago, the United States was on track to generate budget surpluses for each of the next 10 years, totalling a stunning $5.6-trillion (U.S.). Talk of that glut emboldened the incoming president, George W. Bush, to forge ahead with a $1.3-trillion tax cut upon taking office, secure in the belief that the government would still be in the black even with the reduced revenue.
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