At 07:56 PM 2/5/2003 -0600 Dan Minette wrote:
>> Eh, he got a mighty fine assist from capital gains revenues from a stock
>> market bubble.
>
>OK, what fraction of US goverment income comes from capital gains revenues?
I'm willing to bet that if Bush had that same fraction that Clinton did, we
would not have a deficit today. (Although maybe you'd have to subtract
the war budget from that - but I'd be willing to bet that you'd still have
a surplus even including the war budget.)
>> Indeed, despite the best tax receipt windfall we have ever seen, Clinton
>> produced very paltry long-term results.
>
>And it was mere coincidence it was on his shift, and it is mere coincidence
>that Republican shifts don't seem to have such good times associated with
>them, right?
In a word, yes.
The 1990's represented an unprecedented economic phenomenon, and there
appears to have been a 50-50 chance of it occuring underneath a Republican
or Democratic President, or for that matter, a Republican or Democratic
Congress.
Indeed, the period of growth began under the first Bush Administration, and
only accelrated following the election of a Republican Congress. The
period underneath the Democratic President and Congress was one of the
limpest periods of economic recovery following a recession ever.
In fact, if we want to be serious about domestic economic policy, one would
probably analyze the 1984-2001 period as a single period of growth,
interrupted only by a recession caused by exogenous factors (ie a huge
spike in oil prices following Iraq's invasion of Kuwait.)
So please, spare me the cocky assurance that the '90's must be owed solely
to Clinton's economic brilliance. After all, this isn't even a science,
right?
JDG
_______________________________________________________
John D. Giorgis - [EMAIL PROTECTED]
"The liberty we prize is not America's gift to the world,
it is God's gift to humanity." - George W. Bush 1/29/03
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