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Politics : PRESIDENT GEORGE W. BUSH
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To: SeachRE who wrote (281986)7/30/2002 10:43:02 PM
From: DavesM  Read Replies (1) of 769670
 
First of all, bombing Iraq a few days after inaugurations now seems to be standard operating procedure. If I recall correctly, William Clinton bombed Iraq shortly after he was sworn in as well. As far as China goes, relations were probably already soured by the bombing of the Chinese Embassy (during the previous Administration).

Second, I believe most will now agree that the stock market was grossly over valued in the first quarter of 2000 (maybe, even more overvalued than 1929). When the Bubble began to deflate in the first quarter of 2000, I don't remember ANY attempts to stabilize the situation till January 2001. This means the markets dumped for 9 months, with the Clinton/Gore Administration doing and saying little, to try to help the situation. The fact that a market crash the magnitude of 2000-2002 resulted in such a mild recession shows just how effective the FED, and the new Administration was. As far as the tax cut goes, it did exactly what it was supposed to do...consumer spending was one of the few bright spots in the current downturn.

While I am not blaming the financial games played by corporations during the late 90's on the Clinton Administration, I don't think the Bush/Cheney Administration exactly should be blamed either.
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