The NASDAQ lost half its value during Clinton’s last year in office, which crushed tax revenues for the following year. Last week, Clinton blamed the fall in revenues on Bush.
Clinton refused to take out Osama when the opportunity presented itself, and created a September, 2001 surprise for his successor – which further wiped out the economy.
NASDAQ Composite Index Chart – Yahoo! Finance
We have vermin running the country, and has-been vermin propping them up.
Unfortunately they have the vast majority of our public nailed (short or little memory)!
… has two aliases:
The 104th Congress
Newt Gingrich
Fat Bastard had nothing to do with it, at least until early 2000 when he, Janet Reno and the DoJ burned the stock market to the ground.
A different perspective in a single graph of spending per capita:
http://mercatus.org/publication/government-spending-recap
The house holds the purse. Gingrich and The Contract With America are the reason for the flattening of the line during the Clinton years. And it shows we could get by with a lot less…. like the budget of the 1980s.
Per Capita has several flaws though.
– We don’t even know what the whole population is.
– The whole population doesn’t pay taxes.
– The whole population includes illegal aliens.
– The whole population includes others who don’t pay taxes.
– Federal spending is not tied to population.
– FedGov doesn’t care how many people there are or how many pay taxes.
Here’s a few using absolute numbers …
Deficits-Surplus by Congressional Control 1995-2009
National Deficit 1997-2010
Democratic Socialist Unemployment Rate 1994-2010
Democrat Spending 2001-2009
“I did not have sexual relations with that woman..”
Slick Willy lied again?
Analysis of the two Clinton/Bush economies, shows one thing. Clinton was much luckier than Bush. Clinton had no recession s in eight years. Bush’s terms included two which book ended his eight years. Even given the first recession, Bush was months away from balancing the budget. If you do not believe me look at his Year on Year deficits. Even fighting two wars he was keeping the rate of spending below the rate of revenue increases.
Because most economists are liberal coupled with a liberal press, this information is seldom mentioned. It is there in the annual budget records.
As an aside, the Bush “fighting wars “off budget” meme does not mean that the wars were not part of the revenue/budget tracking. I simply means the costs were authorized (a specific budgeting term) in separate legislation from the annual budget legislation.
Indeed. I remember each ‘War supplemental’ being passed (which, by the way, meant that the war was still on and paid for, as the war gets first dibs on tax revenue), despite howls from the Democrats each and every time.
The economy began to get better when Republicans took over congress during the 2nd half of Clinton’s term, and then, in 2006, when Democrats took over congress the economy began to tank, this is not just mere coincidence.
The sad part about the dot com bust is that it not only bankrupted a lot of people, it indebted them to the government (since Taxes are not forgiven with a bankruptcy filing). All because their stock option on paper made them millionaires, but were essentially worthless.