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

To: Rick Slemmer who wrote (389749)	4/10/2003 8:03:53 PM
From: Lizzie Tudor	Read Replies (2) \| Respond to of 769670

was Clinton responsible for the housing bubble too? Thats got to end badly, no? Because after all, all bubbles end badly. And since Bush was in power when it started, he is responsible, even if it takes 5 years for the next recession. We can just blame it on Bush and that dreaded "housing bubble".

To: Rick Slemmer who wrote (389749)	4/10/2003 8:29:20 PM
From: MulhollandDrive	Respond to of 769670

:) this i gotta see

To: Rick Slemmer who wrote (389749)	4/10/2003 8:34:38 PM
From: American Spirit	Read Replies (2) \| Respond to of 769670

The markets responded heartily to Clinton's balanced budget economic philosophy which meant the dreaded raising of taxes, which the GOP fought tooth and nail. But at the same time trimming government waste and old Cold War defense programs on a bi-partisan basis. That together with world unity as we've never seen it before, and the global economy started running on all cylinders. This disproved the idea that raising taxes does not stimulate growth. In fact balanced budgets instill confidence and that can put a real strong foundation under the economy. The markets also loved it when Clinton started paying off the debt. Millions of new jobs were created. There was a great sense of optimism and unity. American was strong and was made stronger by having no major wars of any kind to fight. This meant no long term interruptions in the global economy. The internet boom was what eventually went way too far and dragged telecom with it. Way too much money invested in that sector too quickly. That was a real bubble. But the rest of the economy was just plain healthy, from here to Timbucktoo. Oil prices were also reasonable during this period, and only spiked higher once Bush was nominated. No coincidence I'm afraid. The rain on the parade began I believe with the Clinton impeachment. Public trust and contentment with government was shaken. It was a huge embarrassment to America, not just the sex and lie but the witch hunt itself. It created the first cloud of ral gloom. Then the internet bubble popped, telecoms too. The phony energy crisis price spikes. The Florida election debacle and Bush's move to slash taxes without cutting spending. Suddenly the US government was in the red and at a time of great division and unease. The Clinton era and all its programs were scrapped. Bush ignored the technology sector and instead focused on defense and oil. The right-wing neo-conservative agenda not the moderate agenda he campaigned on. The markets were spooked and the rest of the world was chilled. There was nothing hopeful there for anyone unless you were a right-wing Republican gleeful about taking power despite the election fraud. The party was over. Then came 9-11 and the markets crashed further. By that time it was obvious we were back on the old deficit financing, not seen since the early Bush Sr. years. But instead of doing what his father did and balancing the books, Bush has gone in the opposite direction, spending more and taxing less, thereby letting the US government become the biggest overdrawn credit card in the world. And of course the war costs go right on top of that. Winning in Iraq is a big morale booster for many but I dont see ir translating into any kind of economic recovery. The fundamental reason is that our government is headed for record debts and deficits, and the mood of the world despite the toppling of Saddam is one of great division, discord, unhappiness and paralysis. The right-wing attacks on the Europeans dont help. Instead of etending olive branches, the plan seem to be to demonize most of the world and turn against them, isolating us and our economy, fracturing the global economy in a way which will take 3-5 years to heal. I'd stay in cash.