Why do Radcons hate Clinton when he had the economy booming?

Question

Don't people like money and security?

"My colleagues and I have been very appreciative of your [President Clinton's] support of the Fed over the years, and your commitment to fiscal discipline has been instrumental in achieving what in a few weeks will be the longest economic expansion in the nation's history."
Alan Greenspan,
Federal Reserve Board Chairman,
January 4, 2000,
at Chairman Greenspan's re-nomination announcement
"The deficit has come down, and I give the Clinton Administration and President Clinton himself a lot of credit for that. [He] did something about it, fast. And I think we are seeing some benefits."

Paul Volcker,
Federal Reserve Board Chairman (1979-1987),
in Audacity, Fall, 1994

One of the reasons Goldman Sachs cites for the "best economy ever" is that "on the policy side, trade, fiscal, and monetary policies have been excellent, working in ways that have facilitated growth without inflation. The Clinton Administration has worked to liberalize trade and has used any revenue windfalls to reduce the federal budget deficit."
Goldman Sachs, March, 1998

"Clinton's 1993 budget cuts, which reduced projected red ink by more than $400 billion over five years, sparked a major drop in interest rates that helped boost investment in all the equipment and systems that brought forth the New Age economy of technological innovation and rising productivity."
Business Week, May 19, 1997

Thank President Clinton for the VERY short recession as Bush used his surplus to lower taxes.

How is it that Radcons know more than Volcker, Greenspan and Goldman Sachs?

Bush Sr. Prosperity? Unemployment rate was like 8 percent in 1993.

Clinton lowered the debt held by the public. that was good.

Read Richard Clarke's book Against All Enemies. Or just research it if you're open minded.

Answer 1

because he beat them at their own game... conservatives always think they know what's best when it comes to the economy... but in reality... the stats don't prove them correct...

it was a time of insane economic growth... almost too much growth to be healthy...

here are some stats comparing Bush to Clinton:

look at the unemployment figures... some blame them on clinton when the elder bush handed him a 7 percent rate?
who would you rather have? a man that went from 7 to 4 percent unemployment... or one that went from 4 to 4.6?...

let's look at the stocks... Bush went in in Jan. 2001... right... the high that month was 11,224.41... that doesn't sound like much of a downturn to me... it was 12,031 today ... that's about a 800 point change...

now when Clinton came into office the dow's high for Jan. 1993 was 3338.12...and it went to 11,224, as I previously stated right at the end of his term...that's about an 8,000 point chance

800 point change... 8,000 point change?

and 8,000 point bubble is stupid... there may have been some bubble, but that much growth is not just a "bubble"...

Answer 2

Unlike a lot of people, including some on both sides of the two party circus, I happened to be in the middle of the dot-com industry at the height of the dot-com days. I was a consultant and worked a number of short term gigs for a handful of them.

What I saw was that it was, for the most part, a total sham. It was such a complete sham that a lot of the people doing the shamming didn't even know they were doing it.

There were CEO's of companies that were 25 or younger, and because they had an idea of how to run an internet business, they needed security guards to keep investors in line to throw money at them. Some of these guys didn't have enough business experience to run a hot dog stand, but anything with dot-com in the name was sexy and hot, and everyone wanted some of it.

If a person had the chutzpah, he could have bilked investors with a scheme to open an online carwash and been retired to Jamaica before anyone thought about why that wouldn't work.

That was your "boom" of the 90's. Clinton didn't cause it, and couldn't have stopped it if he'd wanted to, and no power on earth could have stopped it from crashing. It had nothing to do with Clinton. That's just where the herd wanted to go.

Answer 3

The answer, sir, is he did not. The first half of his term was operating under the prosperity created during the Bush Sr. years. While during the latter half of his presidency things appeared to be going just as well, it was on the surface only. Clinton borrowed money the U.S could not pay back. That is why it was only one year after Bush took office that the recession appeared to begin.. (9/11, Enron, Dot Com, and other problems also aggrivated the problem).

Look at things now though. Our unemployment super low, lower than the average of the sixties, seventies, eighties, and the nineties. It is currently about 4.6 per cent. Wall Street... The DOW is reporting record highs. The housing market has also been booming.

Clinton did nothing for this country. As far as security goes, under clinton we suffered FIVE terrorist attacks. Clinton's response was a single bombing. Under this administration, we have suffered ONE terrorist attack, and that still opperating under the failed policies of the Clinton administration. Since then, we have begun a global war on terror. We have destroyed two totalitarian regimes and helped to plant the seeds of democracy in the middle east in both Iraq and Afghanistan. We have prevented NO FEWER than 11 terrorist attacks on our soil...

And this despite a left-wing that has no agenda, instead pursuing policies of obstructionism, and attack after attack after attack.

That is my answer sir, though I doubt you will be satisfied by it.

Answer 4

New Age economy of technological innovation and rising productivity? What we saw was a bust, Why because the economy your so proud of was full of dot coms that were shells. In 1998 it stated to come apart. So by 2000 we were in a free fall economy.
Security? We are in a war because of billy and he wanting to keep his head in the sand. We need strong action in the 90s and just may be we would not be at war today.

Answer 5

Clinton did nothing to boom the economy. In fact he did all he could to subdue it.

Clinton just happened to preside over the dawn of computers. Over his presidency computers went from a novelty item to a necessity, and that's alot of commerce. The Internet grew simultaneously. Fortunes were made and the rules of the market were turned on their heads because these trends were all new.

No matter what Al Gore has to say about it, neither he or Clinton had anything to do with that.

Answer 6

Actually the tax cuts were made by the Pubs, and the market was very over inflated at the time. Most of the people that made money at that time either got out or lost a lot of money. Why do you think the recession happened?

Answer 7

After you take a college level Economics course and maybe do a little research on the massive federal debt and deficit machine, come on back and talk to the big kids.

Answer 8

Get your facts straight. The economy right now is in the
best shape it has been for years. (no thanks to Clinton).
If Hillary should get her way by the government providing
Health Care free to everyone, there will be no economy as
that would break the camel's back...no way can the government
afford health care for everyone. (sounds good for politicians
to say they are for it tho, eh?)

Answer 9

So do you thing Coolidge was a great President? The economy was booming during his term.
The economy was heading into the dumper before the election.

Answer 10

Actually his policies led to a recession. Don't people remember facts?