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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: rich4eagle who wrote (174389)	8/26/2001 2:13:33 PM
From: DOUG H	Read Replies (1) \| Respond to of 769670

thus when you have surpluses you pay down the debt, rather than blow it on useless defense spending and meaningless tax cuts except for those who don't need tax cuts. We agree on this Rich however, as I understand stand it, AG is saying there is not enough marketable debt out there that can be expired via buyback. We have done such a good job of reducing the principal outstanding, the oppurtunity to buy it back is limited. That is why there is discussions about what the governement should do with the money once there is no more outstanding debt. They are acually talking about the Fed's buying assets. The only thing to do with those funds is to give them back to the people who paid them. You need to know my viewpoint to understand my thinking. I believe government (at all levels) is a TERRIBLE manager of money. You can see the same thing in huge corporations, the farther away from the source of the money, the less diligence is given in the dispensation. There is no doubt the market's did well under Clinton. It was an extension of the bull that began in 82'. That is the lenght of the bull. Clinton's success was the result of several factor IMO. Without going into a great amount of detail I'd cite, Clinton did swallow hard and back a program of debt reduction. This was his greatest achievement IMO. It hurt him with many in his own party but he, for whatever reason, choked back his tendecnies to tax and spend and backed debt reduction. This was done with an increase of taxes. Ironically, he benefitted from Reagan/Bush a great deal because under them, the Soviet threat died. Communism's demise made us the GrandMaster of the world and opened foreign markets in a way that would not have been otherwise possible. Additionally, Clinton benefitted by military downsizing. We in California were the last to come out of recession because the cutbacks hurt us the most. Cutting back the military in the early 90's was easy and helped Clinton a great deal. Clintons opening of markets helped us as well because it made the labor markets much more of an international marketplace and less closed. (This again was made possible in part by the reduced commy threat around the world).IOW, Unions were not able to choke the labor supply as they were able to do in the past. That's why Clinton and Labor had their shares of rifts. He calculated correctly on welfare reform as well, getting folks off the dole and forcing them to get a job. It amazes me that the greatest bull market in history has come and gone and you folks don't want to consider why it happened? I'd say what amazes me is the narrowness of your attribution. I doubt you'd concede anything favorable to Reagan/Bush. I think Clinton did many things right in regards to the economy, I just think he is a scummy man. There is a difference.