The surpluses were a lie. It was due to the repeal of Glass Steagle and the creation of derivative markets paying out 1000 to 1.We can remember before Bush and the Republican regime debt wasn't part of the national debate. We are talking about budget surpluses prior to 2001.
you remember something different?
That is when the fraud really began to pick up speed. After the collapse of the dot com bubble, the Fed and the Clinton administration created a new artificial bubble in the housing market. All based on fake derivatives.