The Clinton years were America's glory years. Dare you object? Did he not leave a surplus for Bush to squander ;-) and squander he did. ;-)
Originally Posted by Zanzibar789
Horseshit. But what else to expect from you?
As we now know, the rah-rah 90s were yet another bubble that burst while Bill Clinton was STILL IN OFFICE.
Look it up. First NASDAQ (tech stocks) went into a nosedive and then the Dow Jones did.
It usually takes about a year for the ripple effect to go from Wall Street to Main Street. So George Bush took office just in time to get the blame for the Clinton bubble.
Clinton's "surplus" was the result of two things:
1) a pissing match between Bubba and a GOP Congress, where each side refused to enact the other's spending programs, thereby resulting in a slowing in the increase in spending (not an actual reduction); and 2) dotcom companies pumping up the economy and paying large amounts of capital gains taxes when founders cashed out.
When the dotcom bubble burst, all the capital gains revenue vaporized, income tax revenue dropped, unemployment benefit payments rose, and the surplus was history.
Why doesn't Bubba get the blame for that tech bubble being crated in the first place? The left has no problem blaming Bush for the housing bubble, right?
Perhaps it is because most folks are too stupid to understand economics? Especially partisans.
So much for your "glory years" mope.