<Well, you obviously are a moron.<
Very nice, Z. Have I called you or anybody else on this board names? Really, what are you 12 years old?
<the balanced budget forced on Clinton by the GOP Congress<
Oh, really? Let's see, the budget deficit had been TOTALLY out of control since Reagan(remember him, trees cause pollution?) was in office. In 1993 the Congress passed the Balanced Budget Act, NOT ONE REPUBLICAN voted for it. They, in fact claimed it would end the pathetic recovery that had been under way. Instead, it resulted in a consistent decline in the Federal deficit, the lowest unemployment since LBJ was President and the longest, brightest and most impressive economic boom in U.S. history.
You failed to mention a few facts, such as the fact it was the Clinton administration which promoted and got passed NAFTA, WTO and the Mexican bailout. Virtually any economist will tell you that it was these three things, layered on top of the Balanced Budget Act that created the incredible growth environment that we have had. It was all of these things that let Greenspan let down his "inflation guard" to move interest rates lower than they had been in 30 years.
Lastly, if you actually believe that Rubin, Summers, etc., didn't know what they were doing you shouldn't be investing because you don't understand enough about economics, business or fiscal policy to make educated investment decisions. |
