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To: John F. Dowd who wrote (64707)	9/14/1998 10:55:00 AM
From: Scumbria	Read Replies (2) \| Respond to of 186894

I give Clinton credit for not tampering with what Regan and Bush helped get started through opposing Congresses and for going along with a Republican Congress and not tampering with the "worst economy" in 20 years. John, When Clinton was elected, there was a huge black cloud hanging over the economy- a $300,000,000,000 annual budget deficit. This caused the fed to keep interest rates up, and inspired Ross Perot to propose a 50 cent per gallon gas tax. The deficit had been the #1 topic of political discussion ever since it exploded in the second year of Reagan's presidency. One of Clinton's first acts was to conceive of and push through the 1993 Deficit Reduction Act. This bill cut the deficit in half. It passed without a single Republican vote, and ultimately cost the Democrats control of the Congress. The Republican leadership (Bob Dole and Newt Gingrich) warned that passage of the bill would lead to recession or depression. Instead, it led to 30 year low interest rates, and started the country back on a path back to fiscal sanity. Any economic analysis of the Clinton Administration which fails to discuss this economic cornerstone, is grossly deficient. Scumbria