My friend from Eastern Europe was telling me the other day that even communism gave illusionary choice of 2 candidates. The middle class always gets the shaft
In '93 Clinton raised taxes. The markets were flat to negitive untill 11/94. A fundamental change took place, after 40 years the Republicians took over the House. The markets turned on a dime and never looked back. The market was assured of no new taxes and looked forward to the Republican promise of a balenced budget.
Just for a laugh at the Party of the Really Really Dumb: THE BUDGET STRUGGLE; CLINTON WINS APPROVAL OF HIS BUDGET PLAN AS GORE VOTES TO BREAK SENATE DEADLOCK ...But Senator Pete V. Domenici of New Mexico, the top Republican on the Budget Committee, said the increased taxes in the program would devastate the economy. In the House Thursday, every Republican voted against the economic plan, and all Republican senators had announced their opposition before the Senate debate began. Phil Gramm of Texas, who may run for the Republican Presidential nomination in 1996, declared: "I believe this program is going to make the economy weak. I believe hundreds of thousands of people are going to lose their jobs. I believe Bill Clinton will be one of those people." -------- Clinton's $496 billion stimulus and deficit-cutting bill sure did put this country in huge financial mess. Phil Gramm is still the dumbass. Anyone know if the mental recession still going on? Final Q4 GDP expected to come in at -6.6% next week. A couple of floating estimates out there is that Q1 2009 is expected to be around -5.0%. Any odds out there that the gub'mint, with the junior high varisty coach, will be upping it's stake in Citigroup this quarter to over 50%?
Clintons program was negitive for the economy, only when the Republicians took over from the election of 11/94 did the economy start to grow. Check a chart of the market. The market knew that the republicans would block anymore tax increases and save the economy from the Clinton plans. We all know that tax increases reduce goverment revenues
We were coming off the tech bubble and there was an official recession and 9/11. I would also say that any change in leadership causes some hesitation in investment, until it is more clear how the new leadership will operate