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Politics : PRESIDENT GEORGE W. BUSH
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To: Neocon who wrote (435783)7/30/2003 10:38:55 AM
From: TigerPaw  Read Replies (2) of 769670
 
it helped precipitate a recession.

That recession was the fallout of the Reagan borrow and spend transition to the Bush Sr. borrow-a-bit-less and spend. Any time a major change is made to economic policy there is some disruption in the economic activity usually for the worse.

The proof is that once Clinton and Gore completed the reversal of that policy into a Pay-as-you-go responsibility, the economy still hesitated a bit before beginning it's historic strengthening. One policy changed again there was not only the expected hesitency of transition, but the reversion to borrow-and-spend once again sent the country back on the course where any illusion of growth was only a fraction of the borrowing .

TP
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