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

To: Bill who wrote (398748)	4/25/2003 9:05:17 AM
From: Kenneth E. Phillipps	Read Replies (2) \| Respond to of 769670

If Bush can't convince his own party, he can't blame Democrats.

To: Bill who wrote (398748)	4/25/2003 9:06:43 AM
From: jackhach	Read Replies (2) \| Respond to of 769670

I'm not sure of your answer Bill. But as I remember; Clinton decided to secure the revenue and then cut government spending thus allowing Greenspan the latitude to lower rates by reducing the deficit down to tolerable levels. Clinton against his own initial wishes took advice from a couple of his advisors -- and thought it best to eliminate the deficit -- recognizing that the USA is a borrower nation (gov & personal) -- and the only way to help nearly everyone would be to reduce borrowing needs without undermining the US dollar with a bogus/deadly combination of low rates and high deficits -- as Bush/Greenspan have us now doing. As I remember Greenspan got spooked about the markets higher and higher heights and made the "irrational excuberance" comment -- which was actually sensible; however he spoke out of both sides of his mouth. He somewhat apologized two days later for making that statement -- but quickly raised rates confusing the hell out of many. In hindsight -- he should have raised rates slowly (not so quickly) to take some of the air out of the bubble. Greenspan panicked -- and sabotaged what would have been an even longer financial boom. -JH