Bartlett is warning us against is a financial crisis brought on by a rapidly falling dollar... ...I guess you missed the Republican Revolution in 1994 brought on by Clinton's horrible economic policies.
Let's get serious.
If the 1994 Republicans had any affect then they made the dollar fall further from 87 to an all time low of 79 in 1995. Right now the dollar is trading at 92. If we say a trading level of 92 is a crisis, then we have to call Gingrich's all time low a disaster. That wasn't and this isn't.
Likewise with the "government" deficit. Please bear in mind (all sarcasm aside) that a budget deficit and a current account deficit are two different things. At times in the past we've had one shrink while the other grew and vise versa. The present budget deficit 'crisis' is bogus -- unless we decide that Gingirch gave us a worse one.
If the 1994 Republicans had any affect then they made the dollar fall further from 87 to an all time low of 79 in 1995. Right now the dollar is trading at 92. If we say a trading level of 92 is a crisis, then we have to call Gingrich's all time low a disaster. That wasn't and this isn't. Huh? It isn't so much the absolute level as it is the rate of decline (or rise). Even your own chart shows that what happened after 1994 was nothing compared to the drop between 1985 and 1987, or the current drop. Besides if you want to talk about levels, go back to before 1973 and be honest about it.
