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Tue Jan 8, 2013, 02:55 PM

CHART: How The Clinton Surplus Turned Into A $6 Trillion Deficit [View all]

At the Democratic National Convention, Bill Clinton famously opined that 'arithmetic' was the magic trick that enabled him to be the last President to provide a budget surplus.

In 2001, the CBO projected that the Clinton surplus of about $280 billion would balloon to $5.9 trillion surplus by 2011, when in reality the deficit reached $6 trillion at the end of that time period.

That's pretty bad arithmetic. So what happened?

The U.S. Treasury Department recently tweeted this chart, which breaks down the major drivers that turned a small surplus into a massive deficit:


http://www.businessinsider.com/how-clinton-surplus-became-a-6t-deficit-2013-1

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