Posted on 12/02/2018 12:30:27 PM PST by bitt
The Fed has done all they can to derail Republican Presidents for the past half century. President George H. W. Bush blamed the Fed for his loss in 1992.
George H. W. Bush believed balancing the budget was his top priority, but his efforts to do so were constantly hindered by his “no new taxes” pledge. He held conservative views on government spending and believed that issues like homelessness and crime were important, but that the government should not use more tax money to fix such issues.
Bush agreed to a budget agreement in 1990 which looked to the long-run for balancing the budget with the deficit reduction beginning some two years after the agreement was put into effect. The initial actions of the Fed and the President’s views on Fed involvement at the beginning of his administration were unclear, but Bush eventually favored the idea of the Fed supporting the economy by reducing rates. However, the Fed’s actions were too late for him as he lost the election.
(Excerpt) Read more at thegatewaypundit.com ...
Bush lost because he broke his word about no new taxes and he had no passion in running again.
Simple math. Clinton held the basic bedrock Dem vote who went for Dukakis in ‘88. Perot peeled off almost the exact amount of voters who went for GHWB in 1988.
I voted for Bush that year, but now wishes I had voted for Perot.
At least Perot put Americans first.
Doesn’t really matter, we were either going to be stuck with Bush or Clinton. You want NWO cyanide, or NWO strychnine?
Since '92 I've yet to meet a Perot voter who would have voted for Bush.
Sometimes people will vote for lesser of two evils. This happens a lot in elections.
I seriously considered Perot until he waffled towards the end. But I was one those people taking Perot seriously.
I voted for Bush in ‘92, but that did it for me and the Rs until Trump. I voted for Perot in ‘96, Buchanan in ‘00 (Reform Party) followed by Trump. I voted straight R in ‘16 and this past midterm, so the Rs should be elated they have voters like me (but some party ankle biters don’t get Trump and who he brings to the Rs)
I totally get that.
George HW Bush (R.I.P.) wasn’t nearly the counter puncher that President Trump is in matters like this.
Mr. Trump will not give up on his quest to M.A.G.A. and K.A.G.
Bush was all about foreign policy and never domestic. He lost because he forgot to think about We the People.
Not without cause. Not raising or lowering rates when the president wants them is not cause.
I heard Bush begged Greenspan to cut rates. He wouldn’t do it. But he cut the rates right after Clinton was sworn in. Greenspan is married to an nbc “reporter”.
I have no idea which rate you're talking about. The Fed funds rate was 8.25% on January 1, 1990. It was 3.0% on January 1, 1993.
We arguably would’ve gotten better judges.
As I said, the likelihood is that most Perot voters had been GHW Bush voters in 1988. He divided the GOP vote, as was his goal.
Perot was a thoroughgoing phony. He never wanted to be President, just to sabotage GHW Bush. You’ll recall he was at #1 in the polls which shocked him so much that he dropped out entirely... only to get back in to assure Clinton winning. He didn’t give a $hit about the country and his “concern” for the national debt vanished as soon as his two dog and pony show campaigns did.
How can my comment be false when I said that I had HEARD it. Someone told me that years ago. I posted here to get the facts.
Andrea Mitchell.
Are you really posting this crap? That story has been debunked and is typical leftist media trash designed to make Republicans appear out of touch.
That scanner was a prototype and was advanced for its time. It wasn't an ordinary supermarket scanner you saw back then.
Those sorts of agreements never see the promised reductions. Ever.
Fed policymakers inched down the rate by a quarter percentage point in early September 1992, But they surprised investors by not lowering the rate again at the meeting a month later during which Greenspan said Fed officials didn't have the luxury of waiting until after the election.
... And former President George H.W. Bush attributed his 1992 reelection loss to Greenspan's failure to cut interest rates more aggressively during the 1990-91 recession.
"I reappointed him and he disappointed me," Bush said in a 1998 TV interview.
Newt Gingrich on the Federal reserve:
In the 1950s, every time President Eisenhower got the economy growing, the Federal Reserve would raise interest rates and push the economy into a recession.
President George H.W. Bush was defeated for re-election in part because the Federal Reserve kept interest rates too high, which pushed the economy into a recession.
Agreed and I maintain that he would not have won in 1988 either had he not run against an even more aloof, detached dull man with no charisma (Dukakis).
In fact, the biggest beneficiary of the Gary Hart/Donna Rice affair was perhaps George HW Bush!
For I think Gary Hart would have easily beaten him.
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