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Politics : Proof that John Kerry is Unfit for Command -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (15769)	10/5/2004 3:14:53 AM
From: Peter Dierks	Read Replies (1) \| Respond to of 27181

Yes I do remember. And Clinton knew he was lying about the economy. Democrats had slammed the economy under Bush 41 with a double whammy minimum wage increase. Historically, they have caused a mini recession that the economy does not recover from for at least 18 months. Bang, Bang, and it was recovering quite nicely. Having that nonsense over with allowed Clinton to let the economy run. He raised taxes, and the hoped for increases in receipts never materialized. Most of us on this community were running for cover when he increased our taxes. Clinton walked out on a sick economy in a recession. Most Americans opposed entering WW II. Yes we will see.

To: tejek who wrote (15769)	10/5/2004 8:53:58 AM
From: cirrus	Read Replies (1) \| Respond to of 27181

It's important to recall that in Clinton's first year he proposed, and Congress passed, a deficit reduction bill that included tax increases . The Senate passed the bill 51 to 50 with Al Gore casting the tie-breaker. Republicans screamed that the bill would ruin the economy. Instead, the tax increases and Clinton's spending controls signaled that the US was getting it's financial house in order, prompting renewed investment, confidence and a robust economy that withstood the Peso and Ruble collapses, the LT Capital collapse, the dead Japanese markets and numerous other shocks without a hitch. It's worth remembering that the economy started to unravel when Bush started talking about massive tax cuts to cut the emerging surplus. No talk from Bush of paying down the national debt, just cutting taxes. At the time, 100 of America's richest, including Warren Buffett, signed an open letter to Bush warning that the tax cut would inevitably lead to deficit spending, erasing the hard-won effort to balance the budget, ultimately reducing investor confidence and hurting the economy. That is pretty much what happened. 9/11 did not have to cause a recession. The internet bubble burst was segment specific and did not have to cause a recession. However, put those events on top of poor decisions by Bush and Congress to upset the applecart with a massive tax cut and the combined events led to a recession. The markets crave certainty and stability. Had Bush maintained taxes at the established level or perhaps proposed some reforms, such as correcting the AMT inequities or reduced taxes for those on the bottom of the economic scale, the economy would have been in fine shape. As it is, this administration's decision to manage the economy based on dogma (Cheney: "Regan proved that deficits don't matter.") rather than sound economic policy scares me as much as any terrorist threat. Your memory is short. Remember the phrase.....its the economy, stupid! Recovery was very slow to happen. However, by Clinton's second term, the recovery had become robust as you suggest. He left a recession. Yes, but after the longest peacetime expansion in US history.