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Then we were treated to the deficiency. During a term of eight years, Bill Clinton reversed Reagan's course, raising taxes within wealthy, and lowering them for the running and middle classes. This produced a long sustained economic expansion in American back ground. It produced budgetary surpluses allowing federal government to begin paying around 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 for decades, perhaps forever.