Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Bush's Good Fortune. Three Lucky Economic Breaks
Washington Post ^ | 8/1/05 | Sebastian Mallaby

Posted on 08/01/2005 12:09:12 PM PDT by Tumbleweed_Connection

When it comes to economic policy, ...Bush has all the luck. He's like a drunk who wanders across a six-lane highway and somehow never quite gets smushed.

1-Bush proposed enormous tax cuts to shore up his conservative credentials in the 2000 primaries. ...after the first reckless cuts were enacted, along came the perfect after-the-fact justification: terrorism. Suddenly people were terrified about air traffic grinding to a standstill, consumers being too frightened to go shopping and buildings being uninsurable. The economic boost from the tax cuts seemed almost prescient.

2-the post-Sept. 11 economic trough ended in time for Bush's reelection. Bush Senior lost his 1992 race because the economy rebounded too late to save him. ...12years later Junior celebrated robust growth for several months before his reelection vote.

...the most remarkable aspect of Bush's good fortune is the way he's repeatedly avoided the retribution of markets.

When Bush passed his tax cuts ...followed them up by including prescription drugs in Medicare ...increasing the Pentagon's budget, some kind of market reckoning seemed inevitable. ...extra government borrowing means less available capital ...therefore higher interest rates; and if bond rates are attractive, investors will avoid the risk of buying equities and so deflate the stock market. At the same time, extra government borrowing stokes consumption, including ...imports. Those imports have to be paid for with capital from foreigners; to entice foreigners to provide it, the dollar may have to fall enough to make U.S. assets a bargain.

...almost none of this has happened. ...the trade deficit is at an all-time high, and last year, conveniently, after the election, the dollar fell.... ...this year, the trade deficit notwithstanding, the dollar has bounced back again. ...long-term interest rates are actually lower now than they were one year ago. The stock market has been amiably docile....

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: bias; blitheringidiot; bush43; bushrecovery; bushtaxcuts; economy; news
Navigation: use the links below to view more comments.
first 1-2021-4041-6061-8081-87 next last

1 posted on 08/01/2005 12:09:18 PM PDT by Tumbleweed_Connection
[ Post Reply | Private Reply | View Replies]

To: Tumbleweed_Connection

Luck is the residue of design. Tax cuts work everytime.


2 posted on 08/01/2005 12:11:20 PM PDT by hflynn ( Soros wouldn't make any sense even if he spelled his name backwards)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tumbleweed_Connection

It's all true .. It's Bush's fault.


3 posted on 08/01/2005 12:12:00 PM PDT by stocksthatgoup (Partisanship stops at the water. Mr. Carter? Mr. Carter?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tumbleweed_Connection

Why should the government need an exuse to steal less of the people's money. o_o


4 posted on 08/01/2005 12:12:01 PM PDT by kharaku (G3 (http://www.cobolsoundsystem.com/mp3s/unreleased/evewasanape.mp3))
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tumbleweed_Connection

Life's losers always petulantly claim that the winners just got lucky.


5 posted on 08/01/2005 12:13:56 PM PDT by jpl
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tumbleweed_Connection

Was it Einstein who said: "Chance favors the prepared mind"?


6 posted on 08/01/2005 12:14:00 PM PDT by 1Old Pro
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tumbleweed_Connection
When it comes to economic policy, ...Bush has all the luck.

And, with THAT I will read no further.

7 posted on 08/01/2005 12:14:12 PM PDT by Puppage (You may disagree with what I have to say, but I shall defend to your death my right to say it.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: kharaku

yes, lucky breaks indeed :wink wink:


8 posted on 08/01/2005 12:14:22 PM PDT by catbertz
[ Post Reply | Private Reply | To 4 | View Replies]

To: Tumbleweed_Connection

Did this guy ever stop to consider that Bush is reaping the fruits of good economic policy rather than repeated good luck??? How blind and stupid can you get?????


9 posted on 08/01/2005 12:14:25 PM PDT by Virginia Ridgerunner ("Si vis pacem para bellum")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tumbleweed_Connection

Hysterical. Bush, with all of his pro-growth policies, is "lucky", as he steered the economy to great growth after the cataclysm of 9/11. Clinton, who was lucky enough to get the benefit of Bush 41's economic policies, was considered the mastermind architect of the "Clinton economy".

I'd be upset if people still actually took the media seriously. As it is, this is just another example of flagrant media bias.


10 posted on 08/01/2005 12:14:45 PM PDT by Deo et Patria (Dulce et decorum est pro patria mori.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tumbleweed_Connection

The Harvard MBA who gets by on dumb luck. Sure.

Well, Wash Postie, perhaps as in golf so in Presidents. Better to be lucky than good.


11 posted on 08/01/2005 12:14:57 PM PDT by siunevada
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tumbleweed_Connection

May I call the author of this article a Profligate! There!!!


12 posted on 08/01/2005 12:15:13 PM PDT by cubreporter
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tumbleweed_Connection

Ha ha ha ha ha ha!!!

Oh the poor lefties!

Oh the humanity!


13 posted on 08/01/2005 12:15:35 PM PDT by BenLurkin (O beautiful for patriot dream - that sees beyond the years)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tumbleweed_Connection
Bush is too stupid to be this successful.

*yawn* bring in the next idiot's rant....

14 posted on 08/01/2005 12:15:36 PM PDT by The_Victor (I'm adrift, my tagline just snapped)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tumbleweed_Connection
Junior celebrated robust growth

Does anyone else bristle at this term?

George W. is NOT "junior".

He is your president, Mr. so-called "journalist".

15 posted on 08/01/2005 12:15:58 PM PDT by Izzy Dunne (Hello, I'm a TAGLINE virus. Please help me spread by copying me into YOUR tag line.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: 1Old Pro
Was it Einstein who said: "Chance favors the prepared mind"?

That would be Louis Pasteur

16 posted on 08/01/2005 12:16:09 PM PDT by Puppage (You may disagree with what I have to say, but I shall defend to your death my right to say it.)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Tumbleweed_Connection

Luck indeed! Lucky enough to promote good policy.


17 posted on 08/01/2005 12:16:22 PM PDT by SmithL (There are a lot of people that hate Bush more than they hate terrorists)
[ Post Reply | Private Reply | To 1 | View Replies]

To: jpl
This article is amazing stupid even by the standards of the WashPo.

What are they thinking?

The relationship between taxes and growth has been established since Reagan's time.

18 posted on 08/01/2005 12:16:37 PM PDT by CasearianDaoist
[ Post Reply | Private Reply | To 5 | View Replies]

To: Tumbleweed_Connection
When the economy was doing well under clinton, it was because of his leadership, even though nobody can say just what he did to make it happen.

When the economy does well under GWB, it's because of dumb luck, even though you have to deliberately ignore or misrepresent the things he's done to make it happen.

19 posted on 08/01/2005 12:16:52 PM PDT by Bob
[ Post Reply | Private Reply | To 1 | View Replies]

To: catbertz

As opposed to the very unlucky bastard named Jimmah Cahtah. His policies had nothing to do 21 1/2 percent interest, an energy crisis, gas lines, turned down thermostats, the debacle in Iran, giving away the Canal, etc., etc.


20 posted on 08/01/2005 12:16:54 PM PDT by Eric in the Ozarks (Scratch a Liberal. Uncover a Fascist)
[ Post Reply | Private Reply | To 8 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-4041-6061-8081-87 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson