So your saying Clinton is responsible for the boom, the bust, and the recovery?Originally posted by: DealMonkey
Ah, so Clinton's economic policies are finally kicking in then? Good to see.Originally posted by: digitalsm
The current economy.
Hmmm 2.5% growth in the 2nd quarter, 3.5% projected for the 3rd.
Three year highs for US exports(better than Clintons last year)
Manufacturing is up
Buisness to Buisness Buisness is up
Consumer Spending is up
Consumer Confidence is up
New Home sales till up
Intrest rates still amazingly low
Stock Market has rebounded
Bonds are being sold off somewhat
The only thing about about the economy is unemployment and thats already started slowing and is ALWAYS the last to recover after a recession.
The downward spiral started in 2000, Q4 2000 we had no growth, Q1 2001 we had negative growth, the recession started officaly in March of 2001, a recession is two or more quaters of no or negative growth. The recession last 11 months, during it we had a major terrorist attack the compounded issues. The recession technically ended in Q2 or 2002, thats around the time we had major issues with corprate corruption and cooking the books that dated back to 1996/7/8. The growth was there but it was slow, and because manufacturing was down because of unemployment.
Anyone that thinks the economy is bad right now, I got news for you IT ISNT, and it will NEVER be as good as it was during the reckless Dot.com era. Unemployment claims is under the level which id deemed a weak job market. And is stabilizing. Every other part of the economy has to recover before the job market to recover, and thats whats been happening.
No. Greenspan is more responsible than any other single person. The recession could have been a hell of alot worse, and the recovery a hell of alot slower if it wasnt for him. He plays more of a factor than Bush or Clinton. People like to blame him, but in reality, if he didnt jack up intrest rates, the Dot.com bubble bursting would have been far far far worse than it ended up being. And without him lowering interest rates to insanely low levels the economy would be extremely bad right now. Right now hes got to worry about deflation though.
Bush's tax cuts moderately helped, not as much as hed like to claim, but more than the democrats would like to give him credit for.