still mired in poverty. This malaise led to the defeat of AD at the polls by the opposition Social Christian Party. The newly elected president, Luis Herrera Campins, famously stated in his inaugural speech that he was "inheriting a mortgaged country." Nonetheless, the memory of CAP's first term proved powerful enough and positive enough in his 1988 electoral campaign to earn him a second term, resulting in the Second Presidency of Carlos Andrés Pérez. Cabinet See also Carlos Andrés Pérez Second Presidency of Carlos Andrés Pérez Presidents of Venezuela References History of Venezuela Carlos Andrés Pérez Pérez, Carlos Andrés