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

To: ThirdEye who wrote (174453)	8/26/2001 2:17:30 PM
From: FastC6	Read Replies (3) \| Respond to of 769670

"No one should blame George W. Bush for the Federal Reserve's scorched-earth deflation of the stock market, manufacturing, and technology investment - a deflation that is still in process despite the central bank's jamming down of the monetary accelerator this year after slamming on the brakes last year. Nor should serious people blame Bush for Clinton's government-surplus obsession that drained hundreds of billions in personal tax dollars from the private economy, and led to a record post-war tax level that reached nearly 21% of GDP. Nor should Bush be blamed for Clinton's overzealous regulatory burdens, where a spate of midnight executive orders penalized businesses and prevented energy production. More than a year ago, it was the Clinton Justice Department's decision to break up Microsoft that ignited the tech-sector debacle. Clinton officials at the FTC blocked the rollout of broadband connections to the Internet by favoring Baby Bells over local phone companies, and stopped the capital spending expansion plans for AT&T, WorldCom, and JDS Uniphase. In short, it was the Clinton policy of monetary deflation, high taxes, and regulatory excesses that stopped the long prosperity cycle. That is George Bush's inheritance." . .