Skeeter -
Thanks for the well-reasoned response. You make some good points. However, to say that Clinton's attitudes are what lead to the overvaluation of the stock market seems like a stretch.
As for the money supply and cost-of-debt issues, I think the President is the wrong place to look for blame. I haven't heard anyone, Republican, Democrat, President or Presidential candidate, come anywhere close to criticizing Greenspan and the Fed's policies. I don't expect W. to start mixing in on that score anytime soon.
You opine that Clinton's "lack of a value system leadership led to the powers that be pulling the trigger with IMPUNITY AND AGAINST NO OPPOSITION." Considering that Republicans haven't exactly been hesitant to criticize Clinton on any number of points, why don't you rail against them for not loudly providing the opposition?
I'd say greed is close to universal, and nobody has wanted to rock the boat. The biggest economic problem Americans have is that the vast majority of them don't understand that living on credit is expensive and just not wize. That applies to governments as well as individuals.
I'd like to see Congress (because it's their job) do two things:
1 - Pay off the national debt. If it means not giving people a break on taxes in the short term, fine. Significant tax cuts can come later. Pay debt while you have surpluses. Don't assume surpluses will continue.
2 - Enact some legislation to help educate people about the real costs of credit card and other commercial debt. Perhaps that would do more good than trying to regulate card issuers. Obviously, though, something has to be done.
The biggest problem I have with blaming Clinton for our current economic problems is that it does no good. It gives us a convenient scapegoat while doing nothing to actually deal with the situation.
- Allen |
