Re: Influence...Bush or clinton...
by
tsedek
10/07/2008, 12:44 AM #
"We all know clinton had nothing to do with the great economy laid out for him by the Reagan administration and subsequent dot com boom,"
The great economy came from Big George and St. Bill hiking taxes, shrinking the deficits, and strengthenin the Dollar to the point that oil was $12 and the government was effectively out of the credit markets, freeing up hundreds of billions of Dollars in venture capital and other investments. Reagan was a disaster.
"but did Mr. Bush have equal inculpability for this ensuing downswing?"
Little George cut taxes, hiked spending, and took the deficit from 2000's $20 billion to the recent fiscal year $1 trillion addition to national debt. He got what he wanted, so yes, I think he has responsibilty, as do almost 8 years of Congresses, Republican and Democratic, which enabled his Reaganesque plans. He also appointed Ben Bernanke, most irresponsible and incompetent FOMC Chair that I know of.