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 ...
Luck is the residue of design. Tax cuts work everytime.
It's all true .. It's Bush's fault.
Why should the government need an exuse to steal less of the people's money. o_o
Life's losers always petulantly claim that the winners just got lucky.
Was it Einstein who said: "Chance favors the prepared mind"?
And, with THAT I will read no further.
yes, lucky breaks indeed :wink wink:
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?????
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.
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.
May I call the author of this article a Profligate! There!!!
Ha ha ha ha ha ha!!!
Oh the poor lefties!
Oh the humanity!
*yawn* bring in the next idiot's rant....
Does anyone else bristle at this term?
George W. is NOT "junior".
He is your president, Mr. so-called "journalist".
That would be Louis Pasteur
Luck indeed! Lucky enough to promote good policy.
What are they thinking?
The relationship between taxes and growth has been established since Reagan's time.
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.
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.
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