There was no Clinton surplus; this entire idea is a fallacy. There was no time during the clinton administaration that the Federal govt ran a surplus, i.e. collected more in revenues than it spent. At no time in his eight years did the Federal govt not take the social security surplus and spend every last dime of it. Clinton had a PROJECTED surplus that never materialized. All the cap gains revenues in the world could not give the US govt a surplus with the size of our expenditures. What gave us the projected surplus was the fact that the GOP had come close to reducing the yearly deficits, slowed the rate of growth of spending and had been able to reform entitlements somewhat. The CBO used the rosiest of predictions to score it.