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Politics : Foreign Affairs Discussion Group
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To: GST who wrote (158332)2/22/2005 10:05:38 AM
From: michael97123  Read Replies (1) of 281500
 
Clinton presided over the biggest boom i have ever seen and sopping up the gravy(debt and deficit)was one of the ways available to try to prevent the bust which came anyway. Bush inherited a recession and then 9/11 and refused to revert to Hooverian excesses and allowed deficit spending along with lower taxes to cure the sick patient. And this was done quite successfully. Now in a time of good growth, we need to tackle the excesses of deficits and debts so i think bush is on the same page at this time. My point is that you just cant compare different periods accurately when you ignore the macro conditions. Thats what Krugman does all the time. Mike
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