—As can be seen, the national debt went up every single year. What Bill Clinton did do was pay down the public debt--but he paid down the public debt by borrowing far more money in the form of intragovernmental holdings (mostly Social Security). "Over the past 25 years, the government has gotten used to the fact that Social Security is providing free money to make the rest of the deficit look smaller," said Andrew Biggs, a resident scholar at the American Enterprise Institute.
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