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Politics : View from the Center and Left
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To: Sam who wrote (60712)4/22/2008 11:57:52 AM
From: slacker711   of 541604
 
Yes, they had a strong wind at the their back--but they also had a strong wind blowing in their faces. When Clinton and the Democrats argued that tax increases were necessary


Yes, the tax increases had an impact on the deficit as well.

However, while both the tax increase and the restraint on spending were important, the fact that demographics/productivity were boosting growth and that defense spending dropped by $125 billion in real dollars (and even more in inflation adjusted dollars) cant be overlooked. The 90's would have looked very different if we had 2% growth and a $500 billion dollar defense budget.

And, in fact, Clinton and the Democrats paid dearly for it in the '94 elections.

I'm not sure I have ever read an interpretation of the '94 Republican win that attributed it to the tax increase. The number one issue on voters minds at the time was deficit reduction so that wouldnt square very well with voting the Dems out due to a tax increase.

Slacker
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