Did he? I didn't see any post of yours that showed that, although I believe it. Remember, that at the end of Bush Sr's tenure and the beginning of Clinton's, the country was in a mild recession. So we had deficits. Bush Sr was closing those deficits with higher taxes, which set the stage for further tax hikes and spending cuts under Clinton's watch, which eventually lead to a balanced budget. Back then, we had both parties working towards a balanced budget.
Now, we have both parties working to lower taxes and one party working to spend ever larger amounts of money to prove he's the best Keynesian of them all. It's a recipe for budgetary disaster, which is why our debt is ballooning. And what's more is that inflation is starting to show up everywhere...oil, gas, now manufacturing input prices...It's just as I predicted. There are always consequences. There's never a free ride...
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Empire Index: Here It Comes (Margin Destruction)
Yes, I know, this index was "up". Ok...
The March Empire State Manufacturing Survey indicates that manufacturing activity in New York State expanded at a moderate pace. The general business conditions index was little changed at 20.2, its fourth consecutive positive reading. The new orders and shipments indexes were both positive but slightly lower, indicating continued growth in orders and shipments, though at a somewhat slower pace than in the last month. The prices paid index rose a steep 25 points to 50.6, its highest level since summer 2011, and the prices received index was positive but two points lower than in February.
Here it is! The cost-push "improvement" is going to bury these guys. Oh sure, this makes the index "go up" for a while, but unless received prices keep pace with paid ones, the result is destruction of operating margin and thus profits.
Time's up. |
