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Politics : Formerly About Advanced Micro Devices

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To: JohnD who wrote (123220)	8/29/2000 9:36:22 AM
From: Scumbria	Read Replies (4) of 1570349

John, I can't remember even one significant thing this president has done that would cause me to give him real credit for the great economy, BTW. The list is tremendous, but I will point out the cornerstone. The 1992 Deficit Reduction Act, turned the tide on the economic malaise caused by deficit panic. Until that bill passed, the general perception was that the exploding deficit was going to bankrupt the country. After passage, Greenspan and the financial community relaxed, and the economy quickly turned around. The bill was railroaded through Congress by Clinton's sweat and blood. It passed by a single Democratic vote (no Republicans voted for it!) Passage of the bill came at a high price. It cost the Democrats control of the Congress the following year. It was one the bravest political acts I've seen in my lifetime. (Bush Senior did something similar in 1991, which cost him the Presidency.) Do you remember the pre-Clinton days of exploding $300 billion deficits, and the feeling of impending economic doom the country felt in the late 80's and early 90's? Scumbria

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