Clinton's economy was a myth. We keep hearing how prosperous the 90's were under Clinton and recently how we need to go back to the tax rates from those days as if they were responsible for the good times.
Let me simply say BULL$h!T. The 90's were roaring because of the tech boom and everybody was rolling in the dough, even California. Clinton just happened to be president. He had zero to do nwith the prosperous times. This is all revisionist history (spin).
A deal for Obumbler:
We could go back to the Clinton era tax rates if we’d also go to the Clinton era budget and slash all the rest to the floor, freezing all other spending and linking it to inflation.
I’d go for that.
AND the clinton miracle did not happen until after Republicans took over congress in jan 1995. From jan ‘93 to that date, with clinton in the WH and the congress under dim-0 control, GDP growth actually shrank to nearly half of what it was when clinton took office.
Ding, Ding, Ding, Post of the Day.
Yes the Microchip became fungable and CAD / CAM reduced design cycle times for parts sometimes from 2 weeks on the drafting board to a matter of 2 to 4 hrs, it was that much of the paradigm shift. Productivity went through the moon.Who gave us the Microchip? I don't know, I have had 2 or 3 sources tell me different stories. One it was needed for the likes of the F-16 and F-15 for control and weapon systems, 2nd some give credit to venture capital during the Reagan Years.
So one might say Clintoon got lucky off of the ground work of Ronaldus Maximus.
Obama has the opportunity to due the same with "Fracking" as a game changer and wealth creating revolution, but his hardcore status as Narcissist and Ideologue 1st will have him in a me me me me mode for the next four years. We are seeing it in the going over the cliff, it is all about him...