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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (130239)	2/5/2010 5:28:45 PM
From: Jeff Hayden	Respond to of 542840

You mean like it did under Bush? There have been very few times in our history when we have had the roaring economy as we did under the stock market and then housing bubble. I can think of only two in recent history; the roaring 20's and right after WWII. Instead of another wild time, what if we just go along as a so so economy for decades? Not like under Bush, more like under Clinton. Clinton had a lousy economy coming-in which then lead to the .com bubble. EVERYBODY had well-paying jobs during that bubble and the taxes collected resulted in surplus. BTW, Gore, as a Senator, DID get the ARPANET funded.

To: Steve Lokness who wrote (130239)	2/6/2010 12:10:40 AM
From: Sam	Respond to of 542840

But in any case the worst of the debt was built up in good times - no great times. Actually, the worst of the debt was built up in mediocre times, during the Bush43 administration. In the "great" times of the 90s, the bubble was used to good effect to start paying it down, and put the country on a sounder fiscal footing. Not really sound, because there were still the unfunded liabilitys of SS and Medicare to deal with, but much sounder than we had been. If we had continued on that trajectory, and responsibly debated and approached the unfunded liability problems in Bush43's first term, we would have been in far far better shape today. But, of course, to Bush, the "threat" of alleged surpluses that didn't bother counting those unfunded liabilities was just too dire.