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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Scumbria who wrote (123223)	8/29/2000 10:16:41 AM
From: JohnD	Read Replies (2) \| Respond to of 1570334

Scumbria, OT Yes, I remember that bill - simply stated - the largest tax increase in history, I think. Wasn't that the the first time the govt. started taxing people's monthly Social Security checks? I remember the days of exploding deficits well. Budgets are balanced by either/both tax increases/reduced spending. The situation re. govt. spending has not been improved by Clinton et al. The improvement has come as a result of business and people. Government typically spends/redistributes money, business/people generate it. I've never heard of a person/organization that was too stupid/incompetant to spend money. Government spending frequently exemplifies this. In spite of "faux-wars" and "police actions" the population has more then kept pace, thanks to that tax increase. Social Security, health care system, energy policies, education levels, and drug enforcement policies are no better/much worse then they were 8 years ago. All IMHO, JohnD

To: Scumbria who wrote (123223)	8/29/2000 11:50:36 AM
From: Cory Gault	Read Replies (1) \| Respond to of 1570334

Scumbria: RE- "I can't remember even one significant thing this president has done that would cause me to give him real credit for the great economy, BTW. The list is tremendous, but I will point out the cornerstone. The 1992 Deficit Reduction Act, turned the tide on the economic malaise caused by deficit panic. Until that bill passed, the general perception was that the exploding deficit was going to bankrupt the country." Agree 100%. That initial act of the Clinton presidency turned around the economy more than any other single event in the last decade. At the time you had all kinds of greasy analysts come on CNBC predicting doom and gloom as a result of this bill passage. Instead it jump started the greatest economy the world has ever seen. Also, Clinton broke with his party, labor and other supportive factions in working with Republicans on pushing NAFTA through. Because he knew it made economic sense. CG

To: Scumbria who wrote (123223)	8/29/2000 12:25:46 PM
From: pgerassi	Read Replies (1) \| Respond to of 1570334

Dear Scumbria: The event that fixed the deficits was the Republicans getting control of Congress and the Senate. They were willing to slow down the growth of spending that Clinton wanted. That more than anything else solved the deficit problem. As congress started to show some restraint, AG and others could ratchet down interest rates and that caused the boom in capital spending that we are still enjoying today. Congress has much more effect on the economy than the President. They kept toning down his requests for 10 billion here and 20 billion there. They add up fast and turned Clinton's projections of 200 billion dollar deficits as far as the eye (his) could see. Bill Clinton did not even believe that the budget would be in surplus until 2010 at the earliest with super restraint. Well, how wrong he was. Matter of fact, we would be in a better position if, he would simply stop all these police actions that have caused military spending to be much higher than necessary. He seems to have the crisis action of the year whenever he gets into trouble. No, Bill Clinton is (soon to be was) a mediocre president at best (future historians will probably put him in the bottom of the barrel). We will be better without him. Pete

To: Scumbria who wrote (123223)	8/29/2000 3:51:58 PM
From: TimF	Respond to of 1570334

OT The list is tremendous, but I will point out the cornerstone. The 1992 Deficit Reduction Act, turned the tide on the economic malaise caused by deficit panic. Until that bill passed, the general perception was that the exploding deficit was going to bankrupt the country. The deficit was large and was not shrinking until the REpublicans won congress. Even Clinton's projections for the budget had the budget finally being balanced 10 years out. If the Clinton health care plan had passed then even with the increased revanue deficits would have continued. Do you remember the pre-Clinton days of exploding $300 billion deficits, and the feeling of impending economic doom the country felt in the late 80's and early 90's? There was a mild recession and large but not exploding deficits before Clinton was elected. We were all ready comming out of the recession before Clinton was elected. The growth of the economy from the recession would have increased tax revenue and reduced or eliminated the deficit with out any input needed from Clinton. (Esp. when you consider new spending under Clinton that would also have been eliminated in this case) The period just before that recovery started was basicly a pause in the long period of growth that began early in Reagan's administration and continues to today. Tim