I do know this: in the early days of the Clinton administration, I saw him and Laura Tyson on Meet the Press arguing against balanced budgets. Then the Republicans took over congress, forced a sort of balanced budget on Clinton, and Panetta has been taking credit for Democrat "fiscal conservatism" ever since. He even has an institute based on this lie.
Nice - there's no end to the RATS shenanigans, is there? We must be eternally vigilant with these weasels..