On Thu, 15 Sep 2005 02:40:59 GMT, "Oscar_Lives"
wrote:


"ndugu" wrote in message
...

Is there anything to compare this to? When Bill Clinton took office he
intentionally reversed the Supply Side formula, raising taxes on the
wealthy
and reducing them on the lowest wage earners. Supply Side true believers
predicted the arrival of the Apocalypse. Bob Dole said the stock market
would collapse. Newt Gingrich said the world would fall into another Great
Depression.
What actually happened?

Between 1992 and 2000, the U.S. economy produced the longest sustained
economic expansion in U.S. history. It created more than 18 million new
jobs, the highest level of job creation ever recorded. Inflation fell to
2.5% per year compared to the 4.7% average over the prior 12 years.

What happened when his bubble burst in 2000 ? Because the
false optimism based on his unworkable policies finally faced reality
?

impressively, Clinton reversed the mammoth deficits of the Supply Side
years, turning them into surpluses. He used these surpluses to begin
paying
down the national debt.

He rode an economic wave he did not create, and took credit
for it.


The effects of Bush's tax cut on the deficit and debt are exactly what we
would expect having seen Reagan's results-only worse. Bush inherited from
Clinton a fiscal surplus of $127 billion. In his first year he turned that

He inherited a financial collapse from Clinton.

He also reaped the whirlwind of Clinton's 'soft on terrorism,
cut down the military, we have the UN to protect us' policy.



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