PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: American Spirit who wrote (394879)	4/20/2003 8:23:20 PM
From: Gus	Read Replies (2) of 769667

What matters now is solving the problems that exist and have grown worse over the past few years due to gross neglect of domestic concerns LOL! You're a hypocrite. You're too willing to give Clinton credit for everything that went right during his presidency but not even willing to blame him for anything that went wrong no matter how tragic the results. How can you solve any problem without understanding its root causes? By the time Clinton assumed office in 1993, the Bush/Quayle administration had already finished cleaning up the S&L crisis that erupted in the late 80s. They most certainly didn't clean up that mess without looking into the root causes of the problem including the key point that there were just too many S&Ls with structural funding mismatches that forced them to chase very risky deals. The continuation of the bull market in the 90s wouldn't have been possible without the resolution of that mess. The resolution of that mess allowed Clinton to inherit a global economy where the US, Japan and Germany were growing at 3%-4% rates. By the time that Clinton left office in 2001, the US stock market had already peaked in March 2000 and the US economy -- which accounted for more than 60% of cumulative global GDP GROWTH from 1995-2002 -- was already entering a recession in 2001. All the chickens had come home to roost. Notice the contrast? In 1993 Clinton inherited a peaceful world and a reformed US economy that was poised to take advantage of the fact that the decisive end of the Cold War expanded the markets for everybody. In 2003 Dubya inherited a scandal-ridden US economy that was staggering into recession and a Middle East that was poised to explode. And you think all the problems started after Clinton left office? Are you that stupid? Do you know how many people are exposed to the financial markets and simply can't afford to engage in that kind of politics of the stupid!

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