Obama Defies Pessimists as Rising Economy Converges With Stocks

dtradin said

Yes, to some extent. Moreover, I blame Americans who refuse to be realistic and understand they can't have everything they want whenever they want it without having to pay for it.

I think that belief is why you and I agree so often on specifics, but in the comparison of Clinton's culpability for the dotcom bubble and Bush's responsibility for near economic Armageddon there are huge differences.

Bush's stated belief in "deficits don't matter" and supply side economics coupled with tax cuts for the richest while borrowing from the future of the poor is quite different than simply presiding over the Oval Office while speculators run up a market on the hope and prayer of getting rich quick.

One is a symptom and the other a cause.

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The deficits did not cause our economy to collapse. The housing collapse caused our economy to collapse. There is very little different between the outcome during Clinton's term and Bush's term.

Both Presidents sat back and ignored what was happening. Tax revenue is increasing and they were both happy. Clinton was fortunate that the dotcom craze he blindly watched did not collapse until the very end of his term. Bush was caught with a little more time left on his watch.

Are both Presidents to blame for the mess? We have to say yes because they are the top dog and the buck stops on their desk.


You comment on the market dropping 60 percent during Bush's term and rising greatly during Clinton's term. But is we shift the time line by a mere 12 months, the exact opposite would be true.

Timing baby, timing.