The US is on the verge of a devastating, but avoidable doctor shortage

In 1997, President Bill Clinton was coming off a convincing reelection effort and presiding over a booming economy. Tax revenues were surging, and the federal budget deficit was falling. During the preceding two years, the annual deficit had shrunk from $164 billion to just $22 billion. For the first time in a generation, a federal budget surplus seemed like a real possibility.