 |
 |
Ho hum.
I'm not going to go into it about the economy seriously, but if one looks back at the Clinton years, there were several times where the economy seemed ready to tip, and the federal government took swift action and nipped it in the bud. But the chart I posted yesterday only dealt with federal budget deficits. Reducing the deficit makes more money available for capital investment in the market economy (Government borrows less, interest rates lower, yadda yadda yadda). If we want to talk long-term economic strategy, reducing the deficit (and the debt) makes more sense than tax cuts for capitalists. Raising the minimum wage, increasing the EITC, or lowering taxes on the poor makes more sense short term. And if you look at what Clinton did to stimulate growth in the economy, you'll see a combination of these things. Oh, and Alan Greenspan. And confidence in the economy itself. And knowing that the president isn't a moron out to screw 80% of the population.
Anyway, as far as the chart goes, it's a line graph, children. The dots have to connect, which is why it appears that there's a drop during the last 6 months of Clinton. Remember, CBO deficit numbers only come out once a year. This is probably more accurate. (And yes, I know this measures % of GDP versus actual dollars, but it still illustrates my point.)
See how the deficit falls steadily until it's gone during Clinton's years and the surplus rises until Bush?
And Weston, it's beginning to look like Bush II will actually be a worse president than Nixon, but I'll wait a decade or so before making that declaration, so I can see both in the long light of history. And I HATE Nixon.
Andy, check your e-mail.
posted by
Matthew Carroll-Schmidt at 1:01 PM
|
|
