Was that supposed to be some kind of response? Reagan didnt repeal the business cycle. Wow, he must not have been god.
Clinton benefitted from Reagan's policies. Remember the "peace dividend"? Of course you dont.
So, Clinton profited from Reagan, but Bush 41, Reagan's immediate successor, did not.
You really are a stupid as you write.
Clinton benefited greatly from Reagan's policies. Supply side economics from Reagan, which is the policy of marginal rate tax cuts, a strong dollar, trade globalization, deregulation of key industries like energy, financial services and transportation, and a re-armed military all of which unleashed a great wave of entrepreneurial-technological innovation that transformed and restructured the economy, resulting in a long boom prosperity that continues to throw off economic benefits to this day.
Here is a question. If it was indeed the Omnibus Act of 1993, which greatly increased taxes passed by the democrats that caused the economic recovery and was not the Tax Payer Relief Act of 1997, then why did Clinton advise Obama to extend the tax cuts?
Bill Clinton: Bush Tax Cuts Should Be Extended Temporarily (VIDEO)
Clinton, it is mostly forgotten, was on the verge of becoming a failed president in his first two years. Even the Democratic-controlled Congress had defeated his much touted stimulus package and an enormous hike in energy taxes. HillaryCare, the forerunner to Obamacare, was dead in the water by the summer of 1994, with the Senate Democrats hoisting the white flag on this signature issue on the eve of the Congressional elections.
Clintons most significant achievement was a huge but unpopular tax rate increase that Obama has been determined to duplicate. So unappealing was his record, the Republicans swept both houses of Congress in November for the first time in four decades.
How Reagan reelected Clinton - Forbes
Between 1981 and 1992, the national debt held by the public quadrupled. The annual budget deficit grew to $290 billion in 1992, the largest ever, and was projected to grow to more than $455 billion by Fiscal Year (FY) 2000.
Clinton:
Enacted the 1993 Deficit Reduction Plan without a Single Republican Vote.
"My colleagues and I have been very appreciative of your [President Clintons] 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 nations history."
Alan Greenspan, Federal Reserve Board Chairman, January 4, 2000, with President Clinton at Chairman Greenspans 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
"Clintons 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
CLINTON
Most New Jobs Ever Created Under a Single Administration: The economy has created more than 22.5 million jobs in less than eight yearsthe most jobs ever created under a single administration, and more than were created in the previous 12 years. Of the total new jobs, 20.7 million, or 92 percent, are in the private sector
The Most U.S. Exports Ever. Between 1992 and 2000, U.S. exports of goods and services grew by 74 percent, or nearly $500 billion, to top $1 trillion for the first time.
