Avorysuds
Gold Member
The REAL truth, is what we had under Clinton created the most booming economy we have ever seen. Everyone pays their fair share, we support those that are the real job creators, small business, and support those that make american great, the middle class.
From Clinton's strong progressive view the economy skyrocketed, we had the biggest surplus in US history, employers were nearly begging people to work for them, 10$ an hour to start signs in McDonald's windows,...it was great times.
From there W came into office and decided to throw Clinton's game plan to have the nation debt free into the trash and decided to go back to the proven failed GOP "trickle down" economics. Once enacted things began to plunge.
Now that W slashed revenues, he decided to go on a spending spree by enacting medicare part D, and going to war with afganistan, and the big one, the false war in Iraq.
To insert the cliffs notes, Bush allowed the big banks to run wild with predatory loans, destroyed the housing market, enacted TARP giving trillions to bail them out, and so the frat boy party is over, leaving the nation in shambles because of the republican way of doing things.
Spend like maniacs, but don't have a way to pay for it.
I don't agree that this caused the recession. For one thing, Clinton enjoyed then benefit of luck. He was potus during the Dot Com boom which had absolutely nothing to do with him or his policies. I am pretty sure that it was the housing situation that caused this mess. I am sure because people smarter than me have stated such. I won't totally discount your theory, but I'll have to hear more than that to convince me, and your avie kind of detracts from your credibility.
It's the typical response when you bring up how successful the Clinton administration was for the right wingers to instantly say "Ooo ooo! That was only because of the dot com boom!" Though the thing is without Clinton, who knows if the technological advances such as the internet ever would have come to light, or be anywhere near what they are today.
The internet was essentially just cracking out of it's shell under Clinton and got under full steam under Bush. If it was that successful, it should have launched Bush and even to this day to the most thriving economy that we have ever seen, though like I stated before, other circumstances created the opposite.
The internet keeps growing and now you could say is in it's adolescence. The dot com was never a boom, it's something here to stay.
I think the OP was specific in saying they wanted to avoid the very thing you're doing.
Clinton had a housing bubble and a DoT com bubble.
Clinton had a Republican Congress.
Clinton raided SS so that it looked like the US was on it's way to a surplus while adding to the deficit every year.
Clinton had far less regulation than we do now.
Clinton cut taxes.
Clinton worked with congress, even when he didn't get what he wanted.
Under Clinton the Government was vastly smaller than it is today and yet it was doing much better.
Now, about the OP.
I feel this recession is the side effect of many things. In general it's Big Governments fault and that's important because I don't think this is just any recession. I believe we are reaching the end of this countries rope.
If overspending spending is the definition of Government stimulus than anytime this country has run a deficit we are by definition seeing Government stimulation. Currently we are doing that at about 1.5 trillion a year. The addiction to floating the economy, bubble to bubble, through perpetual stimulus has caused what we are calling "the great recession."
This recession might pass, that is possible. But another recession will occur, and soon. The deficit spending will not be resolved and paying down the debts will not even be on the table as something to even be looked at.
Stimulus = mal investment = deficits = recession = personal debt = depression.
For a long time we were able to dwindle the personal savings of people, float the economy to the next bubble. What has happened over the last 15 years or so is the bubbles have destroyed much of the personal saving, debt from school, housing and so on was created. This debt was created though Government programs and welfare, or stimulus. That stimulus created mal investment. High deficits created a need to clear the markets and a recession is born. Personal debt on near every American family is a new thing, this creates a situation where the FEDS cant create a new bubble and float the economy to it that equals a depression.
That is my view.