[Al Skierkiewicz]

The clicking noise could be one of two things and it would (should) have clicked in the past, you just didn't notice. If the LED is not coming on that sounds like the low voltage power supply but the clicking is also controlled by the very same power supply in most cases. I would suspect at this time that the low voltage power supply is likely lost a capacitor and is putting out largely AC voltage. This would prevent the startup circuitry from turning on the rest of the power supplies and thus firing the monitor. However, since it is eight years old, it is time for a change. Unless it has remained off for weeks at a time, the CRT is likely less than optimum and the other caps in the monitor are likely in poor condition as well.
There is another possibility but it leads to the same conclusion. A dead short on/in the supply could produce the same symptoms. Still better to replace with an nice LCD.