..hop on Clinton's economic bandwagon.....
Originally Posted by bigtex
There's no room with you on it, even if I wanted to get on it. But since you brought up the "Clinton economic bandwagon" .... i
How was the "economy" when Clinton left office?
(And a "link would be appropriate"!!!!)
Let's start with jobs:
Then THE FACTS JACK:
http://www.bloomberg.com/apps/news?p...d=azwhJVa5rWhU
Last U.S. Recession Began Under Clinton, Economy Panel May Say
Jan. 22 (Bloomberg) -- The U.S. economy slipped into recession during Democrat Bill Clinton's presidency rather than under President George W. Bush, the group that officially sets the timing of the country's business cycles may decide.
The seven-member Business Cycle Dating Committee of the Cambridge, Massachusetts-based National Bureau of Economic Research may change its determination that the recession started in March 2001 to reflect recent revisions to government growth statistics, committee members, including Victor Zarnowitz, said.
``We are discussing it now, and in my opinion it should be changed,'' Zarnowitz, a senior fellow at the Conference Board in New York, said in an interview. ``In my opinion, the recession started in December 2000.''
More news as THE FACTS EMERGED:
"
Early 2000′s Recession
by admin on March 15, 2012
MARCH 2001 – NOVEMBER 2001 (8 Months)
The Early 2000s recession took place in the U.S. for a number of different reasons. One was the collapse of the dot.com bubble. A false high, created in the initial, money-making wave of the internet that swept the world, finally came crashing down to a realistic level.
Also, the September 11th attacks made against the Pentagon and the World Trade Center Towers caused a huge stir among Americans. Although Americans rallied and stayed positive through the whole thing, the economy took a hit as people stopped spending money.
A series of outrageous accounting scandals caused what was considered a huge uproar as well, and also caused a mild contraction on the North American economy. But, thankfully, the recession didn’t last long. And although it is probably still fresh on the minds of some Americans, most have probably moved on. The economy recovered, and things looked up.
The Early 2000s recession was felt in mostly Western countries and had been predicted by economists for years, since the boom of the 1990s, which was accompanied by both low inflation and low unemployment. The collapse of the dot-com bubble, the September 11th attacks, and accounting scandals contributed to a relatively mild contraction in the North American economy.
The bursting of the dot-com bubble
As consumers saw the value of their assets fall, they were less likely to purchase as many goods and services, choosing instead to save, possibly for fear of job losses. In addition, the Tech bubble saw the creation of many Web businesses with unsustainable business models that survived on high stock prices or venture capital.
As the stock bubble deflated, the cash for these companies dried up, and many failed or sharply downsized. In turn, this created a flood of server hardware on the secondary market, and hardware and telecom companies suffered as a result."
http://recession.org/early-2000s-recession/
You want the band wagon. It's yours.