"Harry Hope" <hhope@N0BRAINS.C0M> wrote in message
news:0jce21l9ggc5bpt9jnm98ui8qn9bccq07d@4ax.com...
On Thu, 3 Mar 2005 02:33:35 -0800, "Zamboanga" <sulu@zamboanga.com>
wrote:
Bush Stands Out In An Era Of Liars
"President Bush proclaimed that a report by leading economists concluded
that the economy would grow by 3.3 percent in 2003 if his tax cut
proposals
were adopted. No such report exists." Gordan Livingston
http://snipurl.com/d6rd
Record Economy
The Clinton economy produced great results. The raw numbers - 22 million new
jobs created, 116 uninterrupted months of economic growth, a $237 billion
budget surplus, and the lowest unemployment rate in 30 years - are
impressive. Of even greater significance, however, was the sheer excitement
of participating in an economy transformed by the Internet and leavened by a
rising stock market that made millionaires of so many workers.
Two brilliant decisions propelled the success of the Clinton economy. First,
Clinton recognized and tackled the greatest fear of the bond market, that a
tax-and-spend Clinton would fuel inflation. Clinton assuaged that fear with
a $500 billion deficit-reduction program that convinced the bond market that
inflation would drop. This unleashed an extended bond market rally that
lowered long term interest rates - setting the backdrop for one of the
greatest investment booms in history.
Second, Clinton backed high technology because its leaders backed him.
Specifically, 30 Silicon Valley CEOs endorsed Clinton for president in 1992.
As a payback Clinton introduced proposals that benefited Silicon Valley. In
particular, his tax proposals favored entrepreneurs, his job-training
programs re-educated American workers, and his concept of infrastructure
extended into high-tech communication. The most visible symbol of Clinton's
commitment to technology was his proposal for a "fiber-optic highway" to
link homes, offices, libraries and businesses into a huge interstate
database.
As it turned out, the combination of low long-term interest rates and
policies to induce high technology investment unleashed a period of
unprecedented wealth creation.
.
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