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Then we got the shortage. During a term of eight years, Bill Clinton reversed Reagan's course, raising taxes on the wealthy, and lowering them for the running and middle classes. This produced a long sustained economic expansion in American ranking. It produced budgetary surpluses allowing brand new to begin paying to the crippling debt begun under Reagan. In 2000, Clinton's last year, the surplus amounted to $236 thousand. The forecast of a ten-year surplus stood at $5.6 mil. It was the last black ink America would see f
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