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Politics : PRESIDENT GEORGE W. BUSH
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To: CYBERKEN who wrote (456715)9/11/2003 12:06:00 AM
From: Richard S  Read Replies (1) of 769667
 
LOL. So in your mind we should always run deficits otherwise we will have a depression? Nonsense.

Yes, we all know the dismal failure of SUPPLY SIDE economics developed during the REAGAN administration.

We also realize that without the job growth necessary to increase consumer spending and demand for products industry growth will sputter. What drives the economy is the investment in research and development and new innovation creating new jobs and new industries (e.g. the Internet Age)and not the elimination of taxes
(http://www.levy.org/docs/pn/99-7.html)

Without this type of innovation we will experience the same type of cyclical bear that we had from 1967 - 1980 and very likely the same type of cyclical bear we will experience from 2000 - ? until the next new innovation cycle spurs growth.

Reagan was president from 1981-1989 and Clinton was president from 1992-2000. During the Reagan presidency the SP 500 went up 228% (from 130-297) and during Clinton's presidency the SP 500 went up 341% (409-1395). Both were followed by cyclical downturns in the following 3 years.

It would seem to me that the best way to spur economic growth would be to:
(1) develop strategies to encourage innovation through research and development as a means to spur more rapid innovation
(2) encourage the development of retraining/advanced education programs to make the best use of human capital

Your partisan conclusions seem to have no basis in fact.
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