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George w. bush back in 2001. when you came in, there was an annual surplus, annual surplus, of $236 billion, when you left, just over two years later, the country had an annual deficit of $400 billion. >> well, fair enough. and recessions do that. i will tell you that in two-and-a-half years of the service i was never in a debate with a member of congress. of either party, by the way where they wanted to spend less and i wanted to spend more. it was always the other way around and congress got their way on too many occasions. listen, i agree that more money was spent then than needed to be but...

Industries. it's the money gets log-jammed and doesn't get to business. it's almost it isn't getting anything done today and why you have to negotiate round government and round commissions and there is so much, you know, unbelievable garbage on top of beginning of this. >> that's what people don't believe -- i'm going to write this check and give it to the government and they will have a stimulus plan that works. they don't believe that any more. >> a big difference. >> joe, you always talked about when you left congress, the budget surplus. the guy who was nominated by the president yesterda...

If there was a hall of fame for budget directors, then jack lew surely would have earned a place for his service in that role under president clinton when he helped balance the federal budget after years of deficits, when jack left that post at the end of the clinton administration, he handed the next administration a record $236 billion budget surplus. >> that was president obama yesterday nominating the state department's jakon lew to serve as the white house budget director. it's a position that lew previously held during the clinton administration. with us from washington, d.c. now, chair ...

This is a mission that requires some special leadership. and jack is somebody who has proven himself already, equal to this extraordinary task. you know, if there was a -- if there was a hall of fame for budget directors, then jack surely would have earned a place for his service in that role under president clinton. when he helped balance the federal budget after years of deficits. when jack left that post at the end of the clinton administration, he handed the next administration a record $236 billion budget surplus. the day i took office, eight years later, america faced a record $1.3 trill...

You know, if there was a fall -- if there was a hall of fame for budget directors, then jack lew surely would have earned a place for his service in that role under president clinton when he helped balance the federal budget after years of deficits. when jack left that post at the end of the clinton administration, he handed the next administration a record $236 billion budget surplus. the day i took office eight years later, america faced a record $1.3 trillion deficit. jack's challenge over the next few years is to use his extraordinary skill and experience to cut down that deficit and put o...