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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum -- Ignore unavailable to you. Want to Upgrade?

To: golfnut777 who wrote (5912)	3/6/2001 3:28:55 PM
From: Lane Hall-Witt	Read Replies (1) \| Respond to of 6445

golfnut777 -- OT: Not one Republican Senator voted for the Clinton budget of 1993. Bob Dole promised Clinton, right from the beginning of budget talks, that not one Republican would vote for the plan; and Dole delivered on that. That budget did much to restore the bond market's confidence in the long-term prospects for federal deficit reduction and debt management. If you remember the mood in 1992 -- the Perot phenomenon -- you'll know how big a challenge this was. Budget projections from the time projected that we would have a $500 billion annual deficit right now. To give a sense of perspective on this issue, here's a graph that shows the rise, from 1940, of the federal debt (Reagan-Bush presidencies, 1981-1993): brillig.com Here's an inflation-adjusted look: brillig.com In 1997, the Republicans worked with Clinton to pass the 1997 budget, which of course was an important bipartisan step. Budget negotiations in the 2000 election year were simply a travesty, as Greenspan has noted, with Democrats and Republicans alike splurging for votes. There were no heroes on either side of the aisle last year. As for the Clinton "scandals": sure, the Rich pardon was, well, unpardonable. But Bush and Ford abused the pardon power in ways that did much more to threaten the integrity of our political system. How could Bush have pardoned Caspar Weinberger before he was even put on trial for his involvement in Iran-Contra? And Ford's pardon of Nixon is the all-time whopper! My point isn't to support Clinton on this point, because I think he was stupid and wrong. What bothers me so much is the hypocrisy of Clinton's critics. And as for Bush knowing what "is" is, I didn't hear him saying a whole lot about the programs he's cutting in his budget in order to pay for the tax cut. It's not too hard to campaign on tax cuts and then go out and tell people you're going to keep your promise. What's hard is to tell people what this is going to cost them, in terms of government services.