Quote:
Originally posted by RawAlex@Feb 28 2004, 05:52 PM
Colin, the discussion isn't about what causes a recession, there are many things not related to deficit reduction that cause recessions, you know it, I know it. Not the issue.
The question is simple:
With a democrat in the whitehouse, the economy expanded more than twice as fast as the debt.
With a republican in the whitehouse, that number has changed dramatically, even during an almost exact dollar for dollar increase in the GDP. The GDP is only growing 1/3 faster than the debt.
Just one of those things. I won't keep going back and forth, I just see it as a little weird, thats all.
Alex
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I dont think either President can accept much blame or credit for the overall growth.
A chimp could've been in office during the Clinton years, and he would've enjoyed the same explosive growth of the economy due primarily to technology. The most intelligent move Clinton made during that time was the move he didn't make. He made the decision to NOT do anything to inhibit growth of the internet including NOT taxing ecommerce to the chagrin of most of the rest of the democratic party.
The dot bomb exploded in March of 2000, that was still on Bill's watch. By the time George W. inherited it in January 2001, the economy was already a mess. And again, I dont care who was in office on 9/11/2001, the economy was dealt a knockout blow.
But if you're going to give President's credit...or blame....it's worth pointing out that the current economic upturn started at the same time George W. cut taxes...