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View Poll Results: Bill Clinton = Best fiscal conservative president in the last 40 years?
Yes, Bill Clinton balanced the budget 20 76.92%
No, he got a bj and that cancels everything he did 6 23.08%
Voters: 26. You may not vote on this poll

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Old 01-06-2010, 10:53 PM
 
Location: Southeast
4,296 posts, read 6,256,850 times
Reputation: 1445

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Quote:
Originally Posted by twista6002 View Post
That was the early 2000's recession which didn't effect America, just Europe and Asia.
Not sure if you were being sarcastic or not, but the US did get hit with a minor recession in the early '00s. However, the fed managed to curb its potency. Unfortunately the same controls that prevented that recession made the current one even worse. The first signs of recession was the small .3% growth right near the end of Clinton's presidency, followed by a contraction of 1.3% in the 1Q of 2001 and a second contraction of 1.1% in the 3Q (after 9/11). The unemployment rate went up to only 6% at its peak, and dipped to a cool 4.8% by 4Q 2007.

In any case, I support some of Clinton's policies, such as welfare reform, specifically the EITC, TANF, and the welfare to work programs. Of course, many of the later reforms would be products of Congress, they were eventually signed by Clinton so I suppose he gets credit.

However, there are other things about Clinton I will never let go, specifically selling China our ICBM technology in exchange for campaign funds, allowing the Taliban and Al-Qeada into our country to meet with our oil companies, or giving millions to the Taliban. Giving China preferred trade status his last month in office also killed us economically.
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Old 01-06-2010, 10:55 PM
 
Location: Highland, CA (formerly Newark, NJ)
6,183 posts, read 4,967,700 times
Reputation: 2150
Quote:
Originally Posted by Fleet View Post
It did affect America. There was a recession (in America) from March, 2001 to Nov., 2001.
That was the early 2000's recession. Go ahead and look it up. It had a minimal effect on America and that's overstating it. The only reason it had the title "recession" is because it had 2 periods of negative growth IN EUROPE, NOT AMERICA. The only reason there was any negative growth at all in America is because the dotcom bubble peaked in early 2001. Clinton brought us economic heights never reached before or since. It was only natural there was negative growth for a quarter.

BTW, anyone else find it ironic the same people calling this the Clinton recession are the same people saying pointing fingers at Obama for today's recession?
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Old 01-06-2010, 10:58 PM
 
Location: southern california
55,471 posts, read 74,358,652 times
Reputation: 47872
interesting GOP hated him.
what do all these 3 presidents have in common??
jimmie carter, bill clinton barack obama
they were not supportive of DOD and GOP hated them.

Last edited by Huckleberry3911948; 01-06-2010 at 11:24 PM..
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Old 01-06-2010, 10:58 PM
 
Location: Highland, CA (formerly Newark, NJ)
6,183 posts, read 4,967,700 times
Reputation: 2150
Quote:
Originally Posted by Frankie117 View Post
Not sure if you were being sarcastic or not, but the US did get hit with a minor recession in the early '00s. However, the fed managed to curb its potency. Unfortunately the same controls that prevented that recession made the current one even worse. The first signs of recession was the small .3% growth right near the end of Clinton's presidency, followed by a contraction of 1.3% in the 1Q of 2001 and a second contraction of 1.1% in the 3Q (after 9/11). The unemployment rate went up to only 6% at its peak, and dipped to a cool 4.8% by 4Q 2007.

In any case, I support some of Clinton's policies, such as welfare reform, specifically the EITC, TANF, and the welfare to work programs. Of course, many of the later reforms would be products of Congress, they were eventually signed by Clinton so I suppose he gets credit.

However, there are other things about Clinton I will never let go, specifically selling China our ICBM technology in exchange for campaign funds, allowing the Taliban and Al-Qeada into our country to meet with our oil companies, or giving millions to the Taliban. Giving China preferred trade status his last month in office also killed us economically.
Either way the effect on America was minimal and by definition it was not a recession in America, only in Europe and Japan. The definition of recession is 2 consecutive quarters with negative growth. Which you even pointed out never happened in 2001.
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Old 01-06-2010, 11:06 PM
 
Location: Southeast
4,296 posts, read 6,256,850 times
Reputation: 1445
Huck, I do not see how Carter could be considered anti-military since he increased the defense budget 50% after the Soviets invaded Afghanistan.

Quote:
Originally Posted by twista6002 View Post
Either way the effect on America was minimal and by definition it was not a recession in America, only in Europe and Japan. The definition of recession is 2 consecutive quarters with negative growth. Which you even pointed out never happened in 2001.
If recession is defined only by quarter of negative growth, the current one would have started in the Summer of 2008, since we had a quarter of growth after the initial contraction. Democrats have insisted for two years now that the recession began in late 2007.
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Old 01-06-2010, 11:10 PM
 
4,454 posts, read 5,721,069 times
Reputation: 2186
Well Clinton was ok but he made some mistakes. It was true that he allowed selling China for ICBM technology, and the main reason was to prevent China from assisting the Iranians in developing nuclear technology. China agreed not to help the Iranians with their nuclear technology in exchange for the ICBM technology. In addition China was at that time helping Pakistan develp nuclear weapons. The US government did not condemn China for assisting Pakistan with its development of nuclear weapons even though it was illegal for China to do so since they are part of the non proliferation treaty.
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Old 01-06-2010, 11:13 PM
 
Location: Highland, CA (formerly Newark, NJ)
6,183 posts, read 4,967,700 times
Reputation: 2150
Quote:
Originally Posted by Frankie117 View Post
Huck, I do not see how Carter could be considered anti-military since he increased the defense budget 50% after the Soviets invaded Afghanistan.



If recession is defined only by quarter of negative growth, the current one would have started in the Summer of 2008, since we had a quarter of growth after the initial contraction. Democrats have insisted for two years now that the recession began in late 2007.
It's not. What is considered an economic recession in terms of a national economy is consecutive quarters of negative growth. I don't know the facts and figures of when the current one supposedly began nor do I feel like looking it up but I do know by definition America did not experience a recession in the early 2000's.
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Old 01-07-2010, 12:15 AM
 
4,071 posts, read 9,038,528 times
Reputation: 3289
Reason he was able to run a surplus was because military spending was drastically lowered. No soviet union to worry about.

Military spending is a huge cost.

Reworking Welfare was also a very good thing he did and probably saved some serious $.
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Old 01-07-2010, 12:37 AM
 
Location: Gulf Coast Texas
28,167 posts, read 15,304,720 times
Reputation: 11210
He was descending downhill in his first two years after Hillary-care failed. A right leaning Congress took over the purse strings, and things improved.

Remember the process - Congress makes the budget legislation. Clinton could either go along and get something done - or hold the country hostage by not signing budget bills. Not much of a choice there.
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Old 01-07-2010, 12:41 AM
 
Location: In Transition
1,632 posts, read 1,604,885 times
Reputation: 911
Default Read it and weep

The Legacy of the Clinton Bubble (http://www.dissentmagazine.org/article/?article=1229 - broken link)

And read the whole article.

The left always makes Bubba look like some economic genius. Basically Bubba and Greenspan did to the stock market as to what Bush did to the housing market. Deregulate the crap out of it and grew a big bubble with fake income. The difference between Bubba and W is the press was (and still is) kind to Bubba while Bubba exited right when the stock market bubble collapsed. Bubba could always fall into a pile of manure and come up smelling like a rose while the press cleaned him off.

Under Bubba, the fed budget was going to be ""balanced"" on fake stock market money. Just like Bush bumped up the economy with fake housing money.
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