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Fact -- when bill clinton left the white house, america had a $236 billion surplus. here's what that democratic president said at that time. >> through our last four budgets, we've turned record deficits to report surpluses. america must maybe tain our record of fiscal responsibility. >> but just five months later, president george w. bush destroyed that clinton surplus with a stroke of the pen. >> surplus is not the government's money. the surplus is the people's money, and tax relief is now on the way. >> bush signed his tax cuts without paying for them. bush launched the wars in iraq and af...

Latest updates on this topic from reliable sources.

Latest updates on this topic from reliable sources.

Latest updates on this topic from reliable sources.

Little more credit than i think some of our politicians do. >> chris: you also have a record under the first budget director george w. bush 43. annual surplus for the first time in $236 billion. when you left two and a half years later, the deficit was 400 billion. you were also there when president bush launched his medicare drug benefit plan that now costs $60 billion a year. i know there was a recession. but do you think it was wise at a time when we were fighting two wars, to have two tax cuts and launch a huge new entitlement? >> well, it wasn't the recession. it was the recession, two wa...