Remember Bill Clinton came into office under fairly dire financial constraints and we wound up doing pretty well, all things considered. We'll get through this mess, too. I just hope that in 8 years when we're in much better shape we won't have forgotten this current Republican economic clusterf**k (and all those that came before it) and give the GOP yet another chance to run things. If they even dare to run someone for president again we should look at them and say 'are you f**king nuts?!'
During those chaotic first weeks in the White House and following bad news about the size of the deficit, Bill Clinton made one of the most important decisions of his presidency -- to make deficit reduction the centerpiece of his first budget. Some members of the staff argued he was turning his back on campaign promises, in particular that of a middle-class tax cut.
<snip>
Rubin: Well, the president's view was not that he was abandoning anything. The president's view was that the circumstances were substantially worse than he or any of us thought they were. And that even though it was a very tough path to take, politically, that if he didn't do the tough thing, politically, which is deal with the deficit, then the thing that he was elected to do, which is get the economy back on track, wouldn't happen. And the only way he could get the other things he wanted to do done would be to get the economy back on track.
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