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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (111159)

3/14/2012 9:47:59 PM

From: tejek

Read Replies (1) | Respond to of 149317

And check out the Clinton years. That was when he had balanced budgets as well.

Yes, but he didn't get to the balanced part until his second term. His first term was spent cleaning up the S&L mess and completing the turn of the economy.

You see, we really can have a booming economy without massive Federal intervention, if we govern well and let the free markets work. Clinton knew how to achieve that balance. Since then, we've gone to every extreme possible. Clinton's boom was real. It was done to excess, aided by Greenspan's low rates, but it created lasting value and a little thingy called the Internet. This "recovery" is not real and is creating nothing of lasting value, except a massive debt overhang.

There is nothing wrong with the Fed Reserve intervening. Its the greed builts into the capitalist system that gets us into trouble; not Bernanke.