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A Hillary Clinton Presidency Will Follow The Economic Recipe of the 90s

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wyldwolf Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 10:28 AM
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A Hillary Clinton Presidency Will Follow The Economic Recipe of the 90s
There is every reason to believe that a Hillary Clinton presidential administration (as well as a Bill Richardson one) will be filled by former Bill Clinton staffers who helped create the largest economic expansion in over a generation.

While the RWNM (and increasingly the left) only focuses on the tech bubble in the stock market, they refuse to give any credit to the breadth of Clinton's economic accomplishments. Just yesterday on DU someone denied poverty decreased during the Clinton Administration. Political hubris is the most obvious reason for this denial. Clinton proved many important points. The two most obvious are you can balance the budget and grow the economy.

Most importantly, this was part of Clinton's plan from the beginning. It was not a "happy accident" or the long-term result of Reaganomics. In fact,it was Clinton's undoing of Reaganomics that was a strong part of the reason for his success.

First, let's start with the balanced budget, which was part of Clinton's plan from the beginning of his Presidency.

The following is from On the Edge, by Elizabeth Drew, page 60:

Following the election (during the transition), Clinton realized there was little he could do about raising spending for his investments if he didn't tackle the deficit.....He gradually came to see that the debt posed a threat to what he wanted to do to spur competitiveness and economic growth, as well as to revive the economy, and was using up capital that could otherwise go to public and private investment.

(from page 73)The result was an economic program that was bold by conventional standards and did seek to reverse Reagonomics and redirect the country's economic resources from consumption to longer-term investment, and at the same time to take a major bite out of the federal budget deficit. Clinton proposed deficit cuts of $493 billion over 5 years; increased spending, most of it on longer term investments such as job training, rebuilding the nation's infrastructure, education, and promoting high-tech; tax increases of $246 billion over five years; and net cuts in federal spending of $247 billion.


But, why is a balanced federal budget so important?

It prevents crowding out. This is a fancy way of saying money that would finance the federal budget deficit is instead invested in private capital. Let me use the current situation as an example. According to the Congressional Budget Office, the US had a $318 billion budget deficit in 2005. That means $318 billion dollars was not invested in the private economy, but instead invested in US government bonds. The larger the deficit, the less money available for private investment.

Psychology and uncertainty. A budget deficit detracts from individual's confidence in the market and the overall economy. As individual's look to the federal deficit, they understand that at some time the government must pay back the money it borrows. That means the government will probably have to either raise taxes (more likely) or decrease spending (far less likely whichever party is in control of the government). Deficits create psychological uncertainty. The larger and more persistent the deficit, the less happy people are and the less prone they are to take economic risks.

Interest rates. The government is the largest borrower in the credit markets. The treasury market is the base interest rate for other credit market borrowers. If the government has to increase the amount of debt it issues, it has to ask for a higher interest rate. The reason is simple supply and demand. When you sell more of a good, you usually have to drop the price (price and yield are inversely related). Therefore, if the government issues more debt, it has to ask for a lower price and higher yield. The inverse is also true. Lower interest rates helps anybody who wants to borrow money because they will borrow at a rate based on the US Treasury curve.

Let's coordinate three sets of data to illustrate the point. According to the Congressional Budget Office, the deficits/surpluses for years 1993-2000 were (respectively and in billions) $-255, -$203, -$164, -$21, +$69, +$125, +$236, +$128. So, the budget deficit continually decreased from 1993-1996, the budget surplus increased from 97-99 and the budget showed a surplus in 2000 although this was lower than the preceding year. In other words, the record indicates a clear path towards balancing the federal budget. This was not the result of a happy accident; it was deliberate.

One of the prime reasons why the 1990s economy was so successful is the incredible amount of confidence this gave private investors. They could look at Washington with confidence, knowing politicians managed national finances were maturity. There was no talk to the deficit - was it too high, could it be maintained at current levels, will they ever get around to fixing it etc..... Simply put, investors had a sense of certainty and confidence about the economy. This encouraged them to take risks which helped everybody.

Jobs

From an overall jobs perspective, the Clinton team created 22,759,000 from January 1993 to December 2000. This breaks down to 2.8 million jobs/year. The labor participation rate increased from 66.2% in January 1993 to 67% in December 2000. The unemployment rate decreased from 7.7% in January 1993 to 3.9% in December 2000.

The Clinton team was focused in opening up new avenues of job creation that would benefit the middle class. Previously, manufacturing was the primary economic sector the helped the middle class. Total employment in this area increased from 16,790,000 in January 1993 to 17,181,000 or an overall increase of 391,000. This isn't bad, but it certainly could be better (Under Bush, the manufacturing sector has lost 2.8 million jobs). However, the Clinton team's focus on high-tech provided new avenues of wealth creation. Total information jobs increased from 2,656,000 in January 1993 to 3,706,000 in December 2000, or an increase of 1,050,000 million (Under Bush, information services have lost 560,000 jobs).

In addition to the beneficial effects of balancing the budget, Clinton's economy was geared toward helping the middle class attain a better life. According to the Bureau of Labor Statistics, the hourly pay for non-supervisory workers increased from $10.63 in January of 1993 to $14.26 in December 2000 for an increase of 34.14%. Over the same period, the inflation measure increased from 138.1 to 174 for an increase of 25.99%. Therefore, the inflation adjusted hourly wage increased 8.15%.

Looking deeper in the data provided by the Federal Reserve's Survey of Consumer Finances for 1998, the change is apparent:

In the 1998 survey, inflation-adjusted mean and median family incomes continued the upward trend between the 1992 and 1995 surveys; they also surpassed the levels observed in the 1989 survey toward the end of the previous expansion....

From 1995 to 1998, the proportion of families with incomes of $50,000 or more rose from one-fifth to 33.8%, while the proportion with incomes below $10,000 fell about one-sixth to 12.6%.


And from the 2001 survey:

Between 1998 and 2001, inflation-adjusted family incomes rose notably faster than they did in the 1995-98 period. The median rose 9.6% percent (2.5 percent during the 1995-98 period) and the mean rose 17.4% (12.2 during the 1995-98 period).


Compare this to the 2004 survey:

The survey shows that, over the 2001-04 period, the median value of real (inflation-adjusted) family income before taxes continued to trend up, rising 1.6%, whereas the mean value fell 2.3 percent....These results stand in contract ot the strong and broad gains seen for the period 1998 and 2001 surveys and to the smaller but similarly broad gains between the 1995 and 1998 surveys.


Conclusion

The answer to the current situation of weak jobs and wage growth and runaway spending is straightforward.

1.) Balance the budget. This will require repealing some of the rich's tax breaks. My heart bleeds.

2.) Target economic areas that will create jobs. I would personally target alternative energy, nano technology and stem cell research, although there are many others.

3.) Give the middle class -- and only the middle class -- a tax break.

All we have to do is follow the directions, (attribution) and there is every indication that a presidential administration of Hillary Clinton will.

Here's a reminder of Bill Clinton's economic record.

Economy: the Strongest Economy in a Generation

Longest Economic Expansion in U.S. History. In February 2000, the United States entered the 107th consecutive month of economic expansion -- the longest economic expansion in history.

Moving From Record Deficits to Record Surplus. In 1992, the Federal budget deficit was $290 billion - the largest dollar deficit in American history. In January 1993, the Congressional Budget Office projected that the deficit would grow to $455 billion by 2000. The Office of Management and Budget is now projecting a surplus of at least $230 billion for 2000 - the third consecutive surplus and the largest surplus ever, even after adjusting for inflation. Compared with original projections, that is over $685 billion less in government drain on the economy and over $685 billion more potentially available for private investment in this one year alone. The 2000 surplus is projected to be 2.4 percent of GDP -- the largest surplus as a share of GDP since 1948. This is the first time we have had three surpluses in a row in more than a half century, and it is the second consecutive surplus excluding Social Security.

Paying Off the National Debt. In July 2000, the Treasury Department announced that the United States will pay off $221 billion of debt this year -- the largest one-year debt pay down in American history. This will be the third consecutive year of debt reduction, bringing the three-year total to $360 billion. Public debt is on track to be $2.4 trillion lower in 2000 than was projected in 1993. Debt reduction brings real benefits for the American people -- a family with a home mortgage of $100,000 might expect to save roughly $2,000 per year in mortgage payments. Reduced debt also means lower interest rates and reduced payments on car loans and student loans. With the President's plan, we are now on track to eliminate the nation's publicly held debt by at least 2012.

More Than 22 Million New Jobs. 22.2 million new jobs have been created since 1993, the most jobs ever created under a single Administration -- and more new jobs than Presidents Reagan and Bush created during their three terms. 92 percent (20 million) of the new jobs have been created in the private sector, the highest percentage in 50 years. Under President Clinton and Vice President Gore, the economy has added an average of 248,000 jobs per month, the highest under any President. This compares to 52,000 per month under President Bush and 167,000 per month under President Reagan.

Fastest and Longest Real Wage Growth in Over Three Decades. In the last 12 months, average hourly earnings have increased 3.8 percent -- faster than the rate of inflation. The United States has had five consecutive years of real wage growth -- the longest consecutive increase since the 1960s. Since 1993, real wages are up 6.5 percent, after declining 4.3 percent during the Reagan and Bush years.

Household Income Breaks $40,000 for First Time in History. Income for median households rose $1,072, or 2.7 percent, from $39,744 in 1998 to $40,816, marking an unprecedented fifth year of significant growth in income. In 1999, the median income of African American households increased from $25,911 in 1998 to $27,910 -- an increase of $1,999, or 7.7 percent, which is the largest one-year increase ever recorded. The income of the median Hispanic household, adjusted for inflation, increased from $28,956 in 1998 to $30,735 in 1999 -- an increase of $1,779, or 6.1 percent, which is the largest one-year increase ever recorded.

Unemployment is the Lowest in Over Three Decades. Unemployment is down from 7.5 percent in 1992 to 3.9 percent in September, the lowest in more than three decades. The unemployment rate has fallen for seven years in a row, and has remained below 5 percent for 37 months in a row -- over three full years. Unemployment for African-Americans fell to the lowest level ever recorded, and for Hispanics it remains at historic lows.

Highest Homeownership Rate in History. The homeownership rate reached 67.2 percent in the second quarter of 2000 -- the highest ever recorded. Minority homeownership rates were also the highest ever recorded. In contrast, the homeownership rate fell from 65.6 percent in the first quarter of 1981 to 63.7 percent in the first quarter of 1993. There are almost 9 million more homeowners than in 1993.

Lowest Poverty Rate Since 1979. In 1999, the poverty rate dropped from 12.7 percent to 11.8 percent, the lowest rate in two decades. Since President Clinton and Vice President Gore passed their Economic Plan in 1993, the poverty rate has declined from 15.1 percent in 1993 to 11.8 percent in 1999 - the largest six-year drop in poverty in nearly 30 years (1964-1970). There are now 7 million fewer people in poverty than in 1993, and over 2.2 million, or over 30 percent, of this decline occurred during the past year.

Largest One-Year Drop in Child Poverty in More than Three Decades. Under President Clinton and Vice President Gore child poverty has dropped by 25.6 percent -- from 22.7 percent in 1993 to 16.9 percent in 1999. While this is still too high, it is the lowest child poverty rate since 1979 and includes the largest one-year decline since 1966, which occurred from 1998 to 1999. The African American child poverty rate has fallen 28.2 percent since 1993, and dropped from 36.7 percent in 1998 to 33.1 percent in 1999 -- the largest one-year drop in history and the lowest level on record (data collected since 1959). The Hispanic child poverty rate has fallen by 26 percent since 1993, and dropped from 25.6 percent in 1998 to 22.8 percent in 1999 -- the lowest level since 1979. (Census Bureau, Poverty in the United States: 1999, 9/26/00)

Families and Communities: Strengthening America's Working Families

Tax Cuts for Working Families. 15 million additional working families received additional tax relief because of the President's expansion of the Earned Income Tax Credit. In 1999, the EITC lifted 4.1 million people out of poverty - nearly double the number lifted out of poverty by the EITC in 1993. This year, the President proposed expanding the EITC to provide tax relief to an additional 6.8 million hard-pressed working families. (Good News for Low Income Families: Expansions in the EITC and Minimum Wage, CEA, 12/98; Census Bureau)

Helping Parents Balance Work and Family. The Family and Medical Leave Act allows workers to take up to 12 weeks of unpaid leave to care for seriously ill family members, new born or adoptive children, or their own serious health problems without fear of losing their jobs. Nearly 91 million workers (71% of the labor force) are covered by the Family and Medical Leave Act and millions of workers have benefited from FMLA since its enactment. President Clinton has proposed expanding FMLA to allow workers to take up to 24 unpaid hours off each year for school and early childhood education activities, routine family medical care, and caring for an elderly relative. (Five Years of Success: Report on FMLA, Department of Labor, 8/98 (updated number provided 7/99)

Improved Access to Affordable, Quality Child Care and Early Childhood Programs. Under the Clinton-Gore Administration, federal funding for child care has more than doubled, helping parents pay for the care of about 1.5 million children in 1998, and the1996 welfare reform law increased child care funding by $4 billion over six years to provide child care assistance to families moving from welfare to work. Since 1993, the Clinton-Gore Administration has increased funding for the Head Start program by 90 percent, and in FY 2000, the program will serve approximately 880,000 children - over 160,000 more children than in 1993.

Increased the Minimum Wage. The minimum wage has risen from $4.25 to $5.15 per hour, increasing wages for 10 million workers. The President and Vice President have called for an additional increase to $6.15 over two years. (Good News for Low Income Families: Expansions in the EITC and Minimum Wage, CEA, 12/98)

Enacted the Workforce Investment Act. The Workforce Investment Act reformed the nation's employment and training system so that it works better for today's workers. The WIA empowered individuals by giving adults more control and choice over their training or retraining and providing universal access to core labor market services; streamlined job training services by consolidating a tangle of individual programs into a simple system and creating a nationwide network of One-Stop Career Centers; enhanced accountability through tough performance standards for states, localities, and training providers; and increased flexibility so that states can innovate and experiment with new ways to train America's workers better. All 50 states are now up and running and the number of One-Stops has reached 1,200 nationwide. (PL 105-220, 8/7/98)

Signed the Adoption and Safe Families Act. The Adoption and Safe Families Act, which was based in large part on the recommendations of the Clinton-Gore Administration's Adoption 2002 report, made sweeping changes in adoption law so that thousands of children in foster care move more quickly into safe and permanent homes. In 1999, 46,000 foster care children were adopted - more than a 64 percent increase since 1996 and well on the way to meeting the President's goal of doubling the number of adoptions from 28,000 in 1996 to 56,000 by 2002. (PL 105-89, 11/19/97; HHS Press Release, 9/20/00)

Putting Families First. The President and Vice President developed and implemented first-ever plan to protect our children from tobacco and end tobacco marketing targeted to young people. They also required the installation of V-chips in all new televisions, and encouraged schools to adopt school uniform policies to deter school violence and promote discipline. (Presidential Statement, 8/23/96; FCC Report No. GN 98-3, 3/12/98; Presidential Memorandum, 2/23/96)

Supporting Community Service. In just five years, AmeriCorps has allowed 150,000 young people to serve in their communities while earning money for college or skills training. (Corporation for National Service Press Release, 10/16/99)

President's One America Initiative. President Clinton has led the nation in an effort to become One America: a place where we respect others' differences and embrace the common values that unite us. The President has been actively involved in public outreach efforts to engage Americans in this historic effort, and followed up on the work of the Initiative on Race by appointing Robert B. (Ben) Johnson as Assistant to the President and Director of the new White House Office on the President's Initiative for One America. The office is working to ensure that we have a coordinated strategy to close the opportunity gaps that exist for minorities and the underserved in this country, and build the One America we want for all of our nation's children. The President's FY 2001 budget includes $5 million for One America dialogues to promote and facilitate discussions on racial diversity and understanding. President Clinton has also appointed the most diver! se Cabinet and White House staff in history, presiding over an Administration that looks like America. (FY 2001 Budget, p. 136)

Welcoming New Americans. Since 1993, the United States has welcomed 4.4 million new American citizens. Faced with this unprecedented number of applications, the Administration undertook an initiative that has significantly reduced the backlog of citizenship applications and is restoring timely processing. Furthermore, the Administration's English as a Second Language/Civics Education Initiative will provide limited English speaking adults with instruction in both English literacy and critical life skills necessary for effective citizenship and civic participation.

Providing Fairness for Legal Immigrants. The President believes that legal immigrants should have the same economic opportunity and bear the same responsibility as other members of society. In 1997 and 1998, the President fought for and succeeded in restoring disability, health and nutritional benefits for certain legal immigrants, and he will continue to press for additional restorations. The President and Vice President have also taken executive actions to ensure that immigrants who are eligible for benefits are not deterred by language or other access barriers.

Education: Largest Investment in Education in 30 Years

Opening the Doors of College to All Americans. President Clinton proposed and enacted the HOPE Scholarships and Lifetime Learning tax credits, which in 1999 were claimed by an estimated 10 million American families struggling to pay for college. The HOPE Scholarship helps make the first two years of college universally available by providing a tax credit of up to $1,500 for tuition and fees for the first two years of college. The Lifetime Learning Tax Credit provides a 20 percent tax credit on the first $5,000 of tuition and fees for students beyond the first two years of college, or taking classes part-time (in 2003, this increases to $10,000 of tuition and fees). In his FY 2001 budget, the President has proposed expanding the Lifetime Learning tax credit with a College Opportunity tax cut, which will give families the option of taking a tax deduction or claiming a 28 percent credit for the first $5,000 of college tuition and fees until 2002, and $10,000 thereaft! er.

Expanding Work Study and Pell Grants. One million students can now work their way through college because of the President's expansion of the Work Study Program, and nearly four million students will receive a Pell Grant of up to $3,300, the largest maximum award ever. The maximum award has increased 43 percent under the Clinton-Gore Administration. This year President Clinton proposed a $77 million increase in Work Study to continue to support one million awards, and a $200 increase in the Pell Grant maximum award, to raise it to $3,500.

Making College More Affordable. The Clinton-Gore Administration has cut student fees and interest rates on all loans, expanded repayment options including income contingent repayment, and improved service through the Direct Loan Program. Students have saved $8.7 billion since 1993 through the reduction in loan fees and interest rates.

More High-Quality Teachers with Smaller Class Sizes. The Clinton-Gore Administration won a second installment of $1.3 billion for the President's plan to hire an additional 100,000 well-prepared teachers to reduce class size in the early grades, when children learn to read and master the basic skills. Already, 29,000 teachers have been hired through this initiative. This year's budget provides $1.75 billion, a $450 million increase -- enough to fund nearly 49,000 teachers.

Turning Around Failing Schools. 11 million low-income students in 13,000 school districts now benefit from higher expectations and a challenging curriculum geared to higher standards through Title I-Aid to Disadvantaged Students. The FY 2000 budget provides a $134 million accountability fund to help turn around the worst performing schools through such measures as overhauling curriculum, improving staffing, or even closing schools and reopening them as charter schools. This year, the President is proposing to nearly double investment in this fund to $250 million to help ensure all children receive a quality education.

Providing Safe After-School Opportunities for 850,000 Students Each Year. The 21st Century Community Learning Centers program will provide enriching after-school and summer school opportunities for 850,000 school-age children in rural and urban communities in FY 2000. Extended learning time has not only been shown to increase achievement in reading and math, but to decrease youth violence and drug use. Funding for this program more than doubled from FY 1999 to FY 2000. For FY 2001, the President's budget calls on Congress to invest $1 billion in 21st Century Community Learning Centers and to ensure that all children in failing schools have access to quality after-school and summer school opportunities. This proposal will double funding and triple the number of students served to 2.5 million.

Expanding Choice and Accountability in Public Schools. The Clinton-Gore Administration has worked to expand public school choice and support the growth of public charter schools, which have increased from one public charter school in the nation when the President was first elected to 2,000 today. More than 250,000 students nationwide are now enrolled in charter schools in 30 states and the District of Columbia. The President won $145 million in FY 2000 -- and has proposed $175 million in his FY 2001 budget -- to continue working toward his goal of establishing 3,000 quality charter schools by 2002.

Teaching Every Child to Read. The President challenged Americans to commit to the effort to ensure that every child can read well and independently by the third grade -- 1,400 colleges and universities took up his challenge, and 26,700 college work-study students now serve as reading tutors to help every child learn to read.

Expanding Access to Technology. With the Vice President's leadership, the Clinton-Gore Administration has made increasing access to technology a top priority. The President and Vice President created the Technology Literacy Challenge Fund to help connect every school to the Internet, increase the number of multimedia computers in the classroom and provide technology training for teachers. They increased overall investments in educational technology from $23 million in 1993 to $769 million in FY 2000, and tripled funding for Community Technology Centers to reach at least 120 low-income communities. Through the E-rate program, they secured low-cost connections to the Internet for schools, libraries, rural health clinics and hospitals, benefiting more than 80 percent of America's public schools. They also increased investment in education research to ensure all children benefit from educational technology. In 1999, 95 percent of public schools were connected to the I! nternet -- up from just 35 percent in 1994.

Supporting Local Education Reform Efforts. The President signed the Education Flexibility Partnership Act of 1999 (Ed-Flex) into law in April 1999, giving all states greater flexibility in the use of federal education funds in exchange for greater accountability for helping all students reach high academic standards.

Established the GEAR UP Mentoring Program for Middle School Children. President Clinton and Vice President Gore created and expanded GEAR UP, a nationwide mentoring initiative, to help over 750,000 low-income middle school children finish school and prepare for college. The President's FY 2001 budget would expand services to 1.4 million students.

Providing Early Education to Nearly 900,000 Children with Head Start. The President and Vice President have expanded Head Start funding by 90 percent since 1993. Head Start will reach approximately 880,000 low-income children in FY 2000 and, with the President's proposed increase for the program, will be on the way to reaching the President's goal of serving 1 million children and their families by the year 2002. The Administration also created Early Head Start, bringing Head Start's successful comprehensive services to families with children ages zero to three, and set high quality standards for both programs.

Crime and Drugs: Lowest Crime Rates in 25 Years

Lowest Crime Rates in a Generation. When President Clinton and Vice President Gore took office in 1993, the violent crime rate in America had more than quadrupled during the previous three decades. Since then, America has experienced the longest continuous drop in crime on record. The overall crime rate is the lowest in 25 years, and in 1999 crime fell for the eighth consecutive year nationwide. Violent crime rate fell 7 percent in 1999 and 27 percent since 1993. Since 1993, the murder rate is down more than 25 percent to its lowest point since 1967, and gun violence has declined by more than 35 percent.

Putting 100,000 More Police on the Streets. In 1999, ahead of schedule and under budget, the Clinton-Gore Administration met its commitment to fund an additional 100,000 police officers for our communities. As a part of the COPS Program, the President announced a distressed neighborhood grant program to increase community policing in high-crime and underserved neighborhoods. To help keep crime at record lows, in fall 1999, the President won funding for the first installment toward his goal to hire up to 50,000 more officers by 2005. This year, the Clinton-Gore budget includes over $1 billion to continue the successful COPS initiative to hire more officers, hire new community prosecutors, give police the tools and technology they need to fight crime, and to fund community-wide crime fighting efforts.

More Than Half a Million Felons, Fugitives and Domestic Abusers Denied Guns. Since taking effect in 1994, the Brady Law has helped to prevent a total of more than 536,000 felons, fugitives, domestic abusers, and other prohibited purchasers from buying guns. In November 1998, the National Instant Criminal Background Check System (NICS) took effect under the Brady Law, allowing access to a fuller set of records that law enforcement officials can use to conduct checks of all prospective gun purchases -- not just for handguns. As of March 2000, NICS has conducted over 10 million background checks on gun purchasers, and stopped an estimated 179,000 illegal gun sales.

Cracking Down on the Most Serious Gun Criminals. President Clinton and Vice President Gore have established a tough records of enforcement of our nation's gun laws by helping law enforcement take serious gun criminals out of our communities and put them where they belong: behind bars. The number of federal firearms cases prosecuted by the U.S. Attorneys increased 16 percent, from 4,754 in 1992 to 5,500 in 1999. And, by providing federal, state and local law enforcement and prosecutors with the tools they need to crack down on gun criminals, overall gun prosecutions have increased 22 percent. In addition, the average sentence for federal gun offenders has increased by nearly two years, and federal law enforcement is successfully targeting the most serious gun offenders. Between 1992 and 1998, the number of federal gun defendants sentenced to prison for three years or more went up 20 percent, and the number sentenced to five years or more went up 12 percent.

Largest Gun Enforcement Initiative in History. This year, President Clinton has proposed the largest gun enforcement initiative ever. The initiative would provide a record $280 million to add 500 new federal ATF agents and inspectors to target violent gun criminals and illegal gun traffickers that supply guns to criminals and juveniles, and fund over 1,000 new federal, state, and local gun prosecutors to take dangerous gun offenders off the streets. This initiative would also expand the ATF's crime gun tracing program by providing tracing equipment and training to 250 additional law enforcement agencies and by creating the first nationally integrated ballistics testing system. The new ballistics testing system will help law enforcement use the unique "fingerprints" of bullets or shell casings left at the scene of a crime to identify gun criminals -- even in the absence of a firearm.

Developed Comprehensive Anti-Drug Strategy Including a $195 Million National Youth Anti-Drug Media Campaign. The President appointed Barry McCaffrey, a four-star general, to lead the Clinton-Gore Administration's anti-drug strategy as the nation's Drug Czar. In 1997, President Clinton and Director McCaffrey launched the National Youth Anti-Drug Media Campaign, the largest targeted effort ever to teach youth about the dangers of drugs. The Campaign uses the full power of the modern media to encourage young people to reject drug use, and helps parents, teachers and other responsible adults talk to kids about drugs and get more involved in the lives of young people. Illicit drug use among young people age 12-17 declined for the past three years, and the average age of first-time use went up. Since 1997, overall youth drug use is down by more than 20 percent, and youth marijuana use has declined by over 25 percent. Overall drug use is down since its peak in the 1970's! , drug-related murders have fallen by 48 percent since 1992, and youth drug use is leveling off or declining.

Preventing Violence with the Safe Schools/Healthy Students Initiative. Evidence shows that a comprehensive, integrated community-wide approach is an effective way to address the problems of school violence and alcohol and other drug abuse and promote healthy childhood. In 1998, President Clinton unveiled the Administration's Safe Schools/Healthy Students Initiative (SS/HS), an unprecedented joint effort involving the Departments of Education, Justice, and Health and Human Services to help communities design and implement a comprehensive approach, including educational, mental health, social service, and law enforcement services for to help combat youth violence. SS/HS has provided $146 million to 77 local education authorities who have established formal partnerships with local mental health and law enforcement agencies. This year, the President has called for a $100 million expansion of the Safe Schools/Healthy Students Initiative.

Fighting Hate Crimes. The President enacted the Hate Crimes Sentencing Enhancement Act in 1994. He held the historic White House Conference on Hate Crimes, where he called for passage of the Hate Crimes Prevention Act -- bipartisan legislation which would strengthen hate crimes laws and make it clear that America will not tolerate acts of violence based on race, color, gender, national origin, religion, sexual orientation or disability.

Protecting Children from Sex Offenders. President Clinton signed Megan's Law and the Jacob Wetterling Crimes Against Children and Sexually Violent Offender Registration Act, requiring states to set up sex offender registration systems and require community notification when sex offenders are released from prison.

Health Care: Increasing Access and Improving the Nation's Health

Enacted Most Comprehensive Medicare Reforms in History. In the 1997 Balanced Budget, the Clinton-Gore Administration protected, modernized and extended the life of the Medicare Trust Fund while offering new options for patient choice and preventive care. New preventive benefits passed include coverage of annual mammograms, coverage of screening tests for both colorectal and cervical cancer, and a diabetes self-management benefit. The President proposed a plan to reform and modernize Medicare's benefits, including an optional prescription drug benefit that is affordable and available to all beneficiaries. The President has also proposed a reserve fund to help Medicare beneficiaries with extremely high prescription drug costs.

Extending the Life of the Medicare Trust Fund. When President Clinton and Vice President Gore took office, Medicare was expected to run out of money in 1999. Now, the life of the Trust Fund has been extended until 2025. Medicare is now in the soundest shape it has been since 1975.

Enacted Single Largest Investment in Health Care for Children since 1965. The five year, $24 billion State Children's Health Insurance Program (S-CHIP) will provide health care coverage for up to five million children. Two million children have already been enrolled, and in October 1999 President Clinton announced new outreach initiatives to enroll millions more uninsured, eligible children. Last year, the President launched a nationwide "Insure Kids Now" campaign that will bring together major TV and radio networks, healthcare organizations, religious groups and other community-based organizations to help enroll more children in the Children's Health Insurance Program, with the goal of enrolling 5 million of the estimated 10 million children eligible for health insurance under S-CHIP within 5 years. As of June 2000, approximately 2.5 million children were enrolled in S-CHIP. This year, the budget includes sev! eral of Vice President Gore's proposals to accelerate enrollment of children in S-CHIP. The President is also proposing a new FamilyCare program, which would give States the option to cover parents in the same plan as their children.

Passed Meaningful Health Insurance Reform. The President signed into law the Kennedy-Kassebaum Health Insurance Portability and Accountability Act, which helps individuals keep health insurance when they change jobs, guarantees renewability of coverage, and ensures access to health insurance for small businesses. As many as 25 million people will benefit from this law. The bill also eliminated the discriminatory tax treatment the of the approximately 10 million Americans who are self-employed; strengthened efforts to combat health care fraud, waste and abuse by creating a stable source of funding; and provided consumer protections and tax incentives for private long-term care insurance.

More Americans Have Health Insurance. From 1998 to 1999, the number of Americans with health insurance rose by 1.7 million -- two-thirds of them children. This is the first decline in the number of uninsured in 12 years. Factors contributing to the decline in the uninsured include the establishment of the historic S-CHIP program; the unprecedented outreach and enrollment efforts by the Administration and key states; and the improving economy in which increasing numbers of employers are offering health insurance. Despite historic gains, millions of Americans remain without insurance. The President and Vice President remain committed to provide health insurance coverage for all Americans.

Enacted Historic Comprehensive FDA Reform that Expedited the Review and Approval of New Drug Products. The President signed into law the 1997 FDA Modernization Act that includes important measures to modernize and streamline the regulation of biological products; increase patient access to experimental drugs and medical devices; and accelerate review of important new medications. This reform builds on the administrative initiatives implemented under the Vice President's reinventing government effort which have led U.S. drug approvals to be as fast or faster than any other industrialized nation. Average drug approval times have dropped since the beginning of the Administration from almost three years to just over one year.

Signed Mental Health Parity Provisions into Law. To help eliminate discrimination against individuals with mental illnesses, the President signed into law mental health parity provisions that prohibit health plans from establishing separate lifetime and annual limits for mental health coverage. In 1999, the White House held the first-ever Conference on Mental Health and released the Surgeon General's first Report on Mental Health. This year, the President's budget includes an investment of $100 million for mental health services, a 90 percent increase since 1993 levels.

Signed Legislation to End Drive-Through Deliveries. President Clinton signed into law common sense legislation that requires health plans to allow new mothers to remain in the hospital for at least 48 hours following most normal deliveries and 96 hours after a Cesarean section.

Extended Strong, Enforceable Patient Protections for Millions of Americans. Leading by example, the President directed all federal agencies to ensure that their employees and beneficiaries have the benefits and rights guaranteed under the proposed Patients' Bill of Rights. 85 million Americans covered by federal health plans, and Medicare and Medicaid, have the security of knowing they will have fair access to health care thanks to the President's work. The President and Vice President have called for passage of the bipartisan Patients Bill of Rights Act, to ensure that all Americans have essential protections, such as guaranteed access to needed health care specialists; access to emergency room services when and where the need arises; continuity of care protections to assure patient care if a patient's health care provider is dropped; access to a timely internal and independent external appeals process with a medical necessity standard; assurance that doctors and! patients can openly discuss treatment options; and an enforcement mechanism that ensures recourse for patients who have been harmed as a result of health plan actions.

Fighting Medicare Fraud and Waste. Since 1993, the Clinton-Gore Administration has assigned more federal prosecutors and FBI agents to fight health care fraud than ever before. As a result, convictions have gone up a full 410 percent, saving more than $50 billion in health care claims. The Balanced Budget Act gave an array of new weapons in our fight to keep scam artists and fly-by-night health care out of Medicare and Medicaid.

Released Strong New Protections for the Privacy of Electronic Medical Records. The Clinton-Gore Administration released a new regulation to protect the privacy of electronic medical records held by health plans, health care clearinghouses, and health care providers. This rule would limit the use and release of private health information without consent; restrict the disclosure of protected health information to the minimum amount of information necessary; establish new requirements for disclosure of information to researchers and others seeking access to health records; and establish new administrative and criminal sanctions for the improper use or disclosure of private information.

Implementing Comprehensive Nursing Home Quality Initiative. The Clinton-Gore Administration has issued the toughest nursing home regulations in the history of the Medicare and Medicaid programs, including increased monitoring of nursing homes to ensure that they are in compliance; requiring states to crack down on nursing homes that repeatedly violate health and safety requirements; and changing the inspection process to increase the focus on preventing bedsores, malnutrition and resident abuse. They also won a $43.5 million increase in FY 2000 to fund more rigorous inspections of nursing facilities and improved federal oversight and enforcement of nursing home quality.

Ensuring Safe Food for America's Families. President Clinton created the President's Council on Food Safety to develop a comprehensive food safety strategic plan for federal agencies. The Clinton-Gore Administration has implemented a new science-based inspection system -- Hazard Analysis and Critical Control Points -- and reduced the prevalence of salmonella in raw meat and poultry by as much as 50 percent. The President signed the Food Quality Protection Act, which included special safeguards for kids and strengthened laws governing pesticides and food safety. The Administration also issued new rules to prevent foodborne illness caused by pathogens such as E. coli.

Raised Child Immunization Rates to All Time High. Childhood immunization coverage rates in 1998 were the highest ever recorded. 90 percent of toddlers in 1996, 1997 and 1998 received the most critical doses of each of the routinely recommended vaccines, surpassing the President's 1993 goal. Because childhood vaccination levels in the United States are at an all-time high, disease and death from diphtheria, pertussis, tetanus, measles, mumps, rubella and Hib are at or near record lows. There was only one reported case of diphtheria, 100 reported cases of measles, and no reported cases of wild poliovirus in 1998.

Promoting Reproductive Health. The Clinton-Gore Administration has taken strong steps to protect a woman's right to choose and to promote safe reproductive health services for women. The President has provided contraceptive coverage to more than a million women covered by federal health plans; provided family planning services to low income women through the Medicaid program; stood up against attempts to prohibit the FDA from approving RU-486; and continues to fight restrictions on international family planning.

Environment: Growing the Economy And Improving the Environment

Preserving Our National Treasures. The Clinton-Gore Administration has protected tens of millions of acres, from the red rock canyons of Utah to the Florida Everglades. The Administration reached agreements to protect Yellowstone from mining and save the ancient redwoods of California's Headwaters Forest. In the FY 2000 budget, the President and Vice President won $651 million (a 42 percent increase) for Lands Legacy, a historic initiative to strengthen federal efforts to preserve national treasures and provides communities with new resources to protect local green spaces. This year, the President's budget includes a record $1.4 billion for Lands Legacy -- a 93 percent increase and the largest one-year investment ever requested for conserving America's lands.

Created Nine New National Monuments. The Clinton-Gore Administration has created nine new national monuments: Grand Staircase-Escalante, protecting spectacular red rock canyonlands in Utah; Grand Canyon-Parashant, protecting deep canyons, mountains and buttes on the north rim of the Grand Canyon; Agua Fria, protecting extensive prehistoric ruins in Arizona; the California Coastal monument, protecting thousands of islands, rocks and reefs along the California coast; Giant Sequoia National Monument in California's Sierra Nevada, protecting 34 groves of ancient sequoias, the largest trees on earth; Canyons of the Ancients National Monument protecting America's highest density of archeological sites in southwest Colorado; Cascade-Siskiyou National Monument protecting unmatched biological diversity in the Cascade Range in southern Oregon; Hanford Reach National Monument protecting critical habitat for salmon spawning along one of the last free-flowing stretches of! the Columbia River in south central Washington; Ironwood Forest National Monument protecting rich stands of ironwood trees - known to live more than 800 years -- in the Sonoran Desert of Arizona. The Administration also expanded Pinnacles National Monument in California to better protect the area's unusual rock formations, and designated Anderson Cottage, which served as Abraham Lincoln's summer home while he was president, a national monument.

Preserving Our National Forests. The President directed the National Forest Service to develop and propose regulations to provide long-term protection for 40 million acres of roadless areas within national forests and ensure that future generations will be able to enjoy the pristine wilderness. The proposed regulations would ban road building in these areas and could also prohibit logging or other activities that harm their unique ecological value.

Accelerating Toxic Cleanups and Brownfields Redevelopment. The Clinton-Gore Administration has completed clean up at more than 530 Superfund sites, more than three times as many as completed in the previous twelve years. Clean up of more than 91 percent of all sites is either completed or in progress. The Administration's brownfields redevelopment initiative has leveraged over $2.3 billion in private sector investment and generated 6,400 jobs.

Keeping Our Drinking Water Safe. The President proposed and signed legislation to strengthen the Safe Drinking Water Act to ensure that our families have healthy, clean tap water. The Clinton-Gore Administration has required America's 55,000 water utilities to provide regular reports to their customers on the quality of their drinking water. The Administration significantly tightened the arsenic standard, providing additional protection to at least 22.5 million Americans from cancer and other health problems. The Administration has adopted or proposed new standards to provide the first-ever protection against waterborne illness like Cryptosporidium, potentially preventing more than half a million illnesses each year. The Administration also proposed new rule to reduce dirty runoff and strengthen protections for 20,000 rivers, lakes and other waterways too polluted for swimming and fishing. Ninety-one percent of America's tap water from community drinking water sys! tems now meets all federal standards.

Clearing the Air of Unhealthy Pollution. The President and Vice President have adopted the toughest standards ever on soot and smog. They proposed significant reductions in tailpipe emissions from cars, light trucks and SUVs, and launched long-term effort to restore pristine skies over our national parks and wilderness areas. Since 1993, the number of Americans living in communities that meet federal air quality standards has grown by 43 million.

Reducing the Threat of Global Warming. The Clinton-Gore Administration negotiated an international treaty to reduce greenhouse gas emissions in an environmentally strong and economically sound way. The President and Vice President secured $1.1 billion in FY 2000 for research and development of energy efficiency and clean energy technologies, and set a goal of tripling U.S. use of bio-energy and bio-products by 2010. The President issued several Executive Orders. The first order directs agencies to dramatically improve energy efficiency in federal buildings, saving taxpayers over $750 million a year when fully implemented. The second order improves fuel efficiency by requiring the Federal government to reduce fuel use in its vehicle fleets by 20 percent in five years. The third order offers federal workers incentives to use public transportation, cutting fuel use and the pollution that contributes to climate change.

Protecting Oceans and Coasts. The Clinton-Gore Administration has extended the moratorium on new oil leasing off most of the U.S. coast through 2012, and permanently barred new leasing in national marine sanctuaries. They directed the development of key recommendations for strengthening federal oceans policy for the 21st century and appointed a high-level task force to oversee the implementation of those recommendations and launched a new era of ocean exploration where federal researchers will collaborate with marine research institutions and universities for ocean exploration. The President and Vice President secured a funding increase of over 100 percent to better support national marine sanctuaries, and have led the world in calling for a global ban on ocean dumping of low-level radioactive waste.

Science and Technology: A Strong Research and Development Agenda

Unprecedented Investment in Biomedical Research. Two years ago, the President called for an increase of almost 50 percent over 5 years in the National Institutes of Health (NIH) budget as part of his Research for America Fund. Since that time, the NIH budget has increased by over $4.3 billion and with the funding proposed by the President this year, the Administration will be one year ahead of schedule in reaching the 50 percent goal. As a result, NIH now supports the highest levels of research ever on nearly all types of disease and health conditions, making new breakthroughs possible in vaccine development and use, the treatment of chronic disease, and prevention and treatment of diseases such as diabetes, osteoporosis, heart disease, cancer, and neurological diseases like Alzheimers and Parkinsons. The Clinton-Gore Administration's FY 2001 budget includes a $1 billion increase for NIH.

Supporting University Research, Training the Next Generation of Scientists and Engineers. The FY 2000 budget contained a 6.6 percent increase in the National Science Foundation research budget to support science and engineering research across all fields and disciplines. This includes $126 million for the Administration's "Information Technology for the 21st Century" initiative.

Ensuring U.S. Leadership in Space Science and Exploration. The Clinton-Gore Administration won increased investment of $13.65 billion for NASA in FY 2000. This investment offers the potential of new scientific breakthroughs through an aggressive robotic series of exploration missions into the solar system, as well as enhancing our ability to monitor important changes in the earth's climate systems, and strengthening aviation safety for the traveling public.

Strengthening the Economy and National Security with Information Technology. The Administration continued our investment to help ensure that America leads the world in information technologies that predict tornadoes, design life-saving drugs, and make air travel safer and more efficient, and maintain our nuclear weapons stockpile without nuclear testing.
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PresidentObama Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 10:33 AM
Response to Original message
1. I don't think Hillary and Richardson are the.....
....only ones whom could equal such a large economic expansion!!

I think Obama and Edwards could do just as good/maybe better of a job then Hillary could. And as much as I like Hillary, I hate when people post her husbands record with her name above it in the subject and subject line. I appreciate the point your making, but thats a pet peeve of mine!! Hillary is her own women, and she represents herself. Do you have any thing from her Senate record maybe that would indicate under the possible Hillary Clinton Administration the kind of large economic expansion you're talking about? I've seen Richardson's record, and it's quite impressive. I must admit, I'm lacking in information about Hillary's record. Which is unfortunate since she's got a good chance of being the nominee, I better get to reading!!
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aquart Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 10:37 AM
Response to Original message
2. Good reminder, one tiny problem.
Bill didn't have a filthy war sucking his treasury dry. Hillary may.

The Democrats, ANY DEMOCRAT, needs to explain fully how defunding the war will save our soldiers NOT kill them.
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Clark2008 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 10:55 AM
Response to Reply #2
3. I was going to ask what Hillary's position is on Iran - because
NONE of this will be possible with $100-a-barrel oil and a third war to fight.
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wyldwolf Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 06:43 PM
Response to Reply #2
12. but...
The defecit had been effected by the first gulf war.
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Tellurian Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 07:30 PM
Response to Reply #12
14. Good counter point..
A wonderful plan for economic recovery. If wishes were horses, I'd wish for a herd of them starting tomorrow.
On a positive note. Your OP is intense and in detail. It give us hope out of this disintegrating republican
economy geared to the top 5% of the population.

Thanks for posting it!

ps...could you figure a way for oil to descend to $10/a barrel?
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tritsofme Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 07:36 PM
Response to Reply #12
15. The monetary cost of the Gulf War was relatively small to the US
We spent about $60 billion while countries like Kuwait, Saudi Arabia, Germany, and Japan picked up the rest of the tab.
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ChairmanAgnostic Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 09:32 AM
Response to Reply #2
28. and Hill is no Bill.
she will be so busy triangulating, that nothing good will come from an administration of hers. Except, a reinvigorated Neocon PNAC group hell bent on global war.
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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 11:02 AM
Response to Original message
4. Hillary is Bill?
If so, what are the chances that she'll correct this and reverse this?
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ayeshahaqqiqa Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 11:11 AM
Response to Original message
5. Part of this plan has to be dealing with outsourcing
right now, there is nothing to keep a company from outsourcing alternative fuel production, nano technology, and stem cell research. I'm tired of corporations getting away without paying any taxes and then rewarding the US by moving jobs overseas. Too many people have been burned by this--and frankly I don't think they will trust ANY economic job growth plan unless they have the reassurance that jobs created will stay here.
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OhioChick Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 02:00 PM
Response to Reply #5
6. I Agree With You 100%. n/t
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area51 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 02:17 PM
Response to Reply #5
38. Great point.
Offshoring/inshoring has affected so many people, not only in the I.T. industry. With the govt. giving tax breaks for offshoring American jobs and with the higher expense of U.S. jobs due to people needing healthcare, because this barbaric country doesn't have single-payer, universal healthcare, there's no incentive to keep jobs here.


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Colobo Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 02:03 PM
Response to Original message
7. So, Hillary is not Hillary...
Instead, we would have "Billary" in the presidency? I mean, Hillary Clinton is not Bill Clinton... she is HILLARY CLINTON.
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election_2004 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 02:03 PM
Response to Original message
8. Let me echo aquart's point
Bill didn't have a filthy war sucking his treasury dry. Hillary may.

How would President Hillary Clinton repeat the success of her husband's presidency when she would be faced with much different and MUCH MORE DIRE economic, domestic, and international circumstances than he was?
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aquart Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 01:29 AM
Response to Reply #8
21. Bill didn't have to retool an economy shattered by global warming.
The next president is going to have a bitch of a job with that.
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blm Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 09:10 AM
Response to Reply #21
27. Or an economy shattered by the abuses of secrecy and privilege - the shattering came AFTER
Edited on Mon Feb-26-07 09:14 AM by blm
while Clinton had been holding the pieces together just enough to be SEEN as someone who was on our side.

The voracious greed of those to the right of Clinton became fully exposed after he left office. I wish he had spent his time in office assuring the full exposure of the fascist machine.

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election_2004 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-27-07 02:12 AM
Response to Reply #27
47. Ah, but he didn't....
Edited on Tue Feb-27-07 02:13 AM by election_2004
It's been in the making since 1999, for his wife to conveniently trot in on her white horse to become the Democratic Party's "savior"... :eyes:

Please pass the sleaze! :puke:
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rodeodance Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-27-07 07:54 AM
Response to Reply #8
50. Put in a "FDR type" Works program!--Get the whole country involved
in Renewables (away from drill and dig mentality)------It would be like the proposal Kerry put forward during the campaign but on a much larger scale.



......How would President Hillary Clinton repeat the success of her husband's presidency when she would be faced with much different and MUCH MORE DIRE economic, domestic, and international circumstances than he was?
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MadHound Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 02:11 PM
Response to Original message
9. And this is supposed to be a good thing?
Engagement in more "free" trade at the expensive of our own well paying jobs? Bringing more and more skilled labor from abroad, just so that they can jobs from equally well qualified at below market prices? A drastic rise in the financial sector, that led to a bubble market, which crushed many when it fell, only to be reborn as a housing bubble, which is now destroying millions more? Will we see the last shreds of the social safety net finally dismantled, much like Bill did with welfare "reform"? Will we see even more of that group that became a recognizable problem under Bill, the working poor? Will we see the gap between the wealthy and the rest of us, which opened into a record breaking chasm under Bill, continue to grow? Will we continue the race to entire sectors dominated by a handful of monopolies? We whine and moan about the MSM, but it was indeed Bill, under the '96 Telecom Act, that allowed such consolidation of the media into literally a handful of entities.

Sorry, but if this is what Hillary is promising us, no thanks. We can, and should do better than to favor the haves over the have nots. Bill and Bush both have ignored the problems of the poor and destitute among us. We need somebody different, somebody who actually gives a damn about the least among us. Hillary certainly isn't that person.
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NashVegas Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 02:14 PM
Response to Reply #9
10. NAFTA, GATT, etc
Were exactly what that headline made me think of.
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MadHound Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 02:18 PM
Response to Reply #10
11. Yes, yes, much more of those "good times" and we'll all be in the unemployment line
I attended college for awhile in the mid-late ninties, all with the prospect of getting a degree in graphic arts and setting up my own shop. I was forced, due to economic circumstances, to drop out for awhile. Glad that I did, looking back on it. The graphic art jobs in this country have all pretty much been outsourced or driven out of business.

I'm now back in school, getting a degree in education. Let's hope they don't start outsourcing education.
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Solon Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 07:09 PM
Response to Reply #11
13. Same for me, but in Computer Science...
I was going to set up my own computer shop, building computers at lower prices than the big boys, this was when computers, on average, were almost a grand. I was able to build MY OWN computer for about half that price, with modern and high quality equipment. My profit margin would have been small at first, but I figured I was going to expand quickly, and I wanted to build computers for lower income people, so they could afford it, hell, I figured if I was successful at getting some good sales from middle class people, I would practically give away computers to poorer folks.

Today, I can't even contemplate how to do this, I can still build computers, generally faster than Dell sells, at lower prices, but not much lower, and they have volume to make up the difference, I don't even have an option to leverage that, at all. I may be able to break even, then again, I doubt I would be able to afford a store shop.

That's another problem with outsourcing, its not just the tech bubble that was the problem, its the fact that, unless you can start out being a huge assed corporation that can afford to hire foreign help, straight away, you cannot compete in this market, and thats true in many other markets as well, in retail and manufacturing.
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OhioChick Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 09:32 AM
Response to Reply #11
29. Education Degree?
Feb 27, 2007

BANGALORE - From answering bank-customer queries to insurance-claims processing, outsourcing is now moving fast into what is regarded as the heart of culture - education.

Armed with all the assets to provide online tutoring services to clients overseas, India is set to bite into the growing online tutoring business. It is being described as the front-runner in the race to become the world's online tutoring hub.

Online tutoring is big business in the United States, Europe and East Asia, and one that is poised to grow rapidly. In the US, for instance, it accounts for about 6% of the US$2.2 billion private tutoring market.

Online tutoring is an expensive service, often beyond the reach of middle-class families. An hour of online tutoring in the US can cost anywhere between $40 and $60.

But outsourcing the service is changing that.

http://www.atimes.com/atimes/South_Asia/IB27Df02.html

<snip> But there is some opposition to outsourcing education from sections in the US. Teachers' unions, for instance, are opposed to jobs going overseas. They are lobbying for legislation that would make it more difficult for overseas tutors to receive No Child Left Behind funds. There are also questions about the quality of teaching, the impersonal nature of online tutoring, and so on.
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MadHound Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 09:47 AM
Response to Reply #29
30. Oh man, I didn't need to hear that,
Though actually I've heard of it before. But being as that I'm going to be going into a rural or small town school, I seriously doubt that this will effect me for a long time. Small schools simply don't have the funds to purchase the technology needed to implement this.

Let's hope so. However, since I'm going into education, I'm also starting my own farm based business(organic, heirloom orchard and various niche crops) as a source of supplemental income. Who knows though, it might become my only income.
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OhioChick Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 02:21 PM
Response to Reply #30
39. I'm Sorry
to be the bearer of bad news. Unfortunately, it seems as though no one is immune to outsourcing.
I'm sure that you'll make a terrific teacher. Good luck to you.
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enough already Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 08:57 AM
Response to Reply #9
26. How DARE you mention NAFTA, GATT, "Don't Ask, Don't Tell"....
....or any of the other fabulous legacies of the Clinton years.
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tritsofme Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 07:44 PM
Response to Original message
16. If Hillary can wear Bill's accomplishments on her sleave
Why can't any candidate running under the "New Democrat" banner?
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Larkspur Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 09:32 PM
Response to Original message
17. Does that include letting Bill order pizza and frolic with interns in the Oval Office?
and how much more will Hillary hurt the poor by further cutting welfare. Bill's Welfare Reform Act was marketed with Reichwing talking points.
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wyldwolf Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 09:36 PM
Response to Reply #17
18. was that an economic policy?
Talk about your Reichwing talking points.
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MadHound Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-25-07 11:05 PM
Response to Reply #18
19. Well, given that it effected the economic futures of millions of people across the country
Yes, I would say that it was, in part, an economic policy. And a pretty piss poor one at that. There are over a million single mothers out there who aren't working, nor receiving any benefits, nor living with somebody who had these income sources. At least twenty percent of the people going through the welfare to work program come out with no job or job propect, and no safety net either.

And with the average pay of welfare to work enrollees, their average pay after they leave the program is eight dollars an hour. This wage puts them firmly into that other social phenomenon that became widespread under Clinton, the working poor. All without any sort of safety net to help them when they fall.

Sounds like a failed economic policy to me:shrug:
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wyldwolf Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 05:52 AM
Response to Reply #19
22. no, the rightwing did that, just as with evey other trumped up charge
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MadHound Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 06:30 AM
Response to Reply #22
24. The rightwing did what?
Pass the bill? No, this bill was Clinton's baby, including doing it in a two step programs, and even before Bush took office the signs were clear that it was a failure and causing many, many people misery. Please don't try pinning this on the rightwing, all you're doing is sounding like partisan Bush supporters, pinning each and every little thing on Clinton.

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wyldwolf Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 08:01 AM
Response to Reply #24
25. said, "letting Bill order pizza and frolic with interns in the Oval Office" effected the economy
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Larkspur Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 01:51 PM
Response to Reply #18
36. It was for the pizza company and the Impeachment hearings cost
the United States millions of dollars.
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wyldwolf Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 01:59 PM
Response to Reply #36
37. then that is a problem caused by the rightwing.
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oasis Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 03:14 PM
Response to Reply #36
41. Lucianne Goldberg and her network of dirty tricksters set Monicagate in motion.(eom)
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KoKo Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 01:15 AM
Response to Original message
20. The Dot Com Bubble and the Tech Age produced those jobs and
Edited on Mon Feb-26-07 01:31 AM by KoKo01
covered over the beginning of the job drain overseas due to NAFTA. Loosening of SEC Regulations by Dodd and Lieberman allowed Stock Market Crookery that we live with today. Corporations laid off Middle Managment allowing the CEO's to gain big breaks with a Top Down Corporate system that left out the Middle Managers and left the workforce with little mentoring. Downsizing & Mergers began under Clinton and increased under Bush. Media Deregulation was a disaster for Freedom of Speech. We lost the House because Gingrich felt free to attack with the backing of his Right Wing Hacks and Janet Reno a weak Attorney General could have nipped the Clinton witch hunt over Whitewater in the bud but she allowed it to go on leading eventually to the Starr Investigation.

What the Clintons promised came to them from good luck of the timing of their Presidency. I give them credit for reducing the deficit and holding back some of the worst abuses of the Republicans...but we will never have the 90's again. And, we won't have a President who had that much Charisma and Charm ever again. Maybe if he hadn't been so compromised by the Female Scandals and the Monica incident he could have had more power to set a broader agenda. I will always thank him for instituting COBRA which helped thousands who were downsized and layed off keep health insurance for awhile...and the Deficit Reduction.

Thanks for all the information...just giving you the "on the ground" view of the Clinton years. And, they were far better than this hell we are living through...but they had their own elements of hell with all the scandals that cost us and allowed the Bushies and their gang to get in and finish Poppy and Reagan's work.
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wyldwolf Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 05:54 AM
Response to Reply #20
23. The OP completely demolished the "tech bubble"charge by the far right and far left
Edited on Mon Feb-26-07 05:54 AM by wyldwolf
A great case of responding before reading the OP (or comprehending it.)
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KoKo Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 10:44 AM
Response to Reply #23
31. Here's a view from Dean Baker, Center for Economic Progress re...
this:

http://209.85.165.104/search?q=cache:FUgtflTcAccJ:www.cepr.net/publications/financial_bubbles_2005_03_20.pdf+Short+Term+Gain+for+Long+Term+Pain&hl=en&ct=clnk&cd=7&gl=us&client=firefox-a

Short-Term Gain for Long-Term Pain:
The Real Story of Rubinomics

Dean Baker
Center for Economic and Policy Research
1611 Connecticut Ave., NW, Suite 400
Washington, DC 20009

Paper presented at the Hofstra University 11th Presidential Conference: William Jefferson
Clinton, the “New Democrat” from Hope.

Introduction
A mythology has developed around the economics of the Clinton era. According to the
mythology, the policies designed by Clinton’s Treasury Secretary Robert Rubin laid the basis
for the prosperity of the late 1990s. These policies centered on getting the deficit down, and
later running budget surpluses. The short-term pain associated with higher taxes and lower
spending had a payoff in the form of more investment, more rapid productivity growth,
higher job growth and rising real wages and income.
This is nice mythology, but it is almost completely at odds with the reality. The growth burst
of the late 1990s had little to do with deficit reduction (at least directly) and had everything
to do with two unsustainable bubbles – a stock market bubble and a dollar bubble. The
Clinton administration chose to ride the prosperity from these bubbles, even though it
should have recognized that this prosperity was artificial, and would inevitably lead to a
crash, followed by a painful adjustment process.
The first section of this paper details the main trends in the economy in the Clinton years.
The second section describes how the bubbles drove the economy and created the
prosperity of the late 1990s. The third section outlines the long-term costs associated with
the bubbles. The conclusion briefly explains how the bubbles could have been contained
before they grew to such dangerous sizes.

Section 1: Deficit Reduction and the Beginnings of the Bubble
Economy
When President Clinton came into office in 1993 he had two conflicting agendas that he had
promised to pursue. The first was his “public investment” agenda, centered on promoting
investment in infrastructure, research and development, and education and training. This
position was most strongly identified with Labor Secretary Robert Reich. The second agenda
was deficit reduction – the belief that the top priority must be to reduce the deficit to a
sustainable level, if not eliminate it altogether. This position was most strongly associated
with then Treasury Secretary Lloyd Bentsen and Robert Rubin, the head of Clinton’s
National Economic Council.
Clearly it was not possible to both promote substantial increases in public investment and
reduce the deficit at the same time. After the defeat of a modest stimulus package in the
summer of 1993, the main focus of Clinton’s economic policy through the rest of his
administration was the reduction of the deficit. As the deficit shrank more rapidly than had
been anticipated, the goal shifted to a balanced budget and later to paying off the national
debt. Throughout this process, public investment took a back seat, with most categories of
public investment no higher (measured relative to the size of the economy) at the end of
Clinton’s administration than at the beginning.1
The rapid decline in the deficit was partly due to tax increases and spending restraint, and
partly to an unexpected surge in tax revenue.2 In fiscal 1992, the last full fiscal year before
President Clinton took office, the deficit was $290.4 billion or 4.7 percent of GDP. The
deficit in 1997, the last budget prepared in his first term in office, was just $22.0 billion, or
3
0.3 percent of GDP. In 2000, the surplus peaked at $236.4 billion, an amount equal to 2.4
percent of GDP.
Whatever the cause, President Clinton certainly could boast of solid economic growth,
especially through his second term in office. For his presidency as whole, annual GDP
growth rate averaged 3.6 percent. Job growth averaged 2.8 million per year and the median
hourly wage rose at a 0.5 percent annual rate. For the second term, annual GDP growth
averaged 3.9 percent, job creation averaged 2.8 million per year, and the real median wage
grew at a 2.0 percent annual rate, with unemployment falling to just 4.0 percent in 2000.3 By
these statistics, and most other measures, the economy’s performance during Clinton’s
second term was the best since the late sixties.
The proponents of deficit reduction took this performance as a vindication of their program.
However, closer examination shows that this was not the case. According to the deficit
reduction proponents, lower deficits were supposed to reduce demand for borrowing and
thereby lead to lower interest rates. Lower interest rates should then stimulate both
investment and net exports (by lowering the value of the dollar), which would then boost the
economy. The boost to investment would not only increase demand, by increasing the
amount of capital per worker; it would lead to higher productivity and thereby higher
potential output.
Regardless of the general validity of this theoretical view of the economy, it clearly does not
explain the growth spurt in the mid and late 1990s. None of the pieces of the argument fit.
Real interest rates did fall, but not by an especially large amount, there was an upturn in
investment, but it was not nearly large enough to produce the sort of upturn in productivity
the economy actually experienced, and the dollar and net exports went the wrong way – the
dollar rose and net exports fell.4

More of this paper with tables, etc. at.....

http://209.85.165.104/search?q=cache:FUgtflTcAccJ:www.cepr.net/publications/financial_bubbles_2005_03_20.pdf+Short+Term+Gain+for+Long+Term+Pain&hl=en&ct=clnk&cd=7&gl=us&client=firefox-a


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wyldwolf Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 10:51 AM
Response to Reply #31
32. amazing the leftwing revisionism. He actually denies goverment stats but offers...
...no real statistical rebuttal to them.
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KoKo Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 11:05 AM
Response to Reply #32
33. There are Tables in the Article and more info in the "Endnotes."
Edited on Mon Feb-26-07 11:12 AM by KoKo01
It's another view of Rubinomics. Giving a different perspective. :shrug:

------Page 15
14
Endnotes
1
Federal non-defense spending on investment was equal to 1.8 percent of GDP in fiscal 2001, the same
share as in 1992. Investment spending over the Clinton years averaged 1.7 percent of GDP (Office of
Management and Budget, 2005, Table 9.1).
2
The tax share of GDP increased from 18.1 percent in 1994, when the Clinton tax increases were already
fully in place to 20.9 percent in 2000. The main factor appears to be a surge in capital gain income due to
the stock bubble. This showed up both in capital gains taxes, and also in normal income taxes, since
short-term capital gains are taxed as normal income.
3
Data on GDP growth, job growth, and unemployment are taken from the Economic Report of the
President, 2004, tables B-2, B46, and B42, respectively. Data on the median wage is taken from Mishel, et
al, 2003, table 2.6.
4
Remarkably, discussion of the link between the budget deficit and the trade deficit (through the
mechanism of an inflated dollar pushed higher due to high interest rates) virtually disappeared from public
debate in the late 1990s. This link had been a staple of the conventional economic wisdom from the
eighties through the mid-1990s e.g. Dornbusch, 1985).
5
The gross investment share is inflated due to the fact that a large portion of investment in the period
was in short-lived capital (computers and software) that depreciates quickly.
6
In standard growth models, investment has a very modest impact on growth. For example, in a Cobb-
Douglas production function, the coefficient on capital is usually 0.3. This means that a 1 percent increase
in the capital stock leads to an increase of output of 0.3 percent. If the capital/output ratio is
approximately 2 to 1, this means that an increase in investment equal to 2.0 percentage points of GDP
would only increase output and productivity growth by 0.3 percentage points. The increase in investment
witnessed by the time of the productivity upsurge was far less than 2.0 percentage points of GDP, and the
increase in the annual rate of productivity growth was more than a full percentage point from the prior
growth rates. The increase in investment during the Clinton years was far too small to explain the upsurge
in productivity that the economy actually experienced.
7
See Dynan and Maki, 2001, and Maki and Palumbo, 2001.
8
The value of stock market wealth is taken from the Federal Reserve Board’s Flow of Fund’s data, Table
B.100, lines 24 and 25. The basis for the price to earnings ratio at the peak of the bubble is the value of
outstanding corporate equity, $17.8 trillion (Flow of Funds, Table L.213, line 19) and the after tax profits
of U.S. corporations, $552.7 billion (Economic Report of the President, 2004, Table B-28).
9
The savings rate has fallen even lower in the years since the collapse of the stock bubble, driven by a
housing bubble. The housing bubble had its beginning in the Clinton years, but did not attain dangerous
dimensions until after he left office
10
This is the cumulative rise in the real value of the dollar from 1996 to 2001, using the Broad Index,
Economic Report of the President, Table B-110.
11
It is important to note the redistributive effect of a high dollar. It reduces incomes in the traded goods
sector, most importantly manufacturing, by lowering the price of competing goods. This means that
individuals who are not working in sectors that directly face international competition gain from an over-
valued dollar at the expense of workers who do face this competition.
12
One of the problems of the current system of pension accounting is that it creates a dangerous circle in
which rising stock prices allow companies to contribute less to their pension fund, and thereby report
higher profits. This then leads a further run-up in stock prices. As defined benefit pension plans dwindle
in importance, this phenomena is likely to be less important in future years, but clearly it was one of the
factors had helped to contribute to the bubble at the end of the 1990s.
13
Economic Report of the President, 2004, Table B-30.
14
These data come from the Bureau of Labor Statistics Current Population Survey, Table A-5.
15
See Baker 1997, and Baker, 2000 for pieces that outlined the bubble argument at the time.



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wyldwolf Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 11:14 AM
Response to Reply #33
35. interesting how his spin contradicts nearly all others
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rinsd Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-27-07 12:32 PM
Response to Reply #31
53. LOL. A lefty so hates Clinton, he "proves" Bush was right.
Edited on Tue Feb-27-07 12:32 PM by rinsd
After all didn't Bush say over and over again we were headed for a recession in the 2000 election?

:evilgrin:

"Throughout this process, public investment took a back seat, with most categories of
public investment no higher (measured relative to the size of the economy) at the end of
Clinton’s administration than at the beginning"

In other words, public investment grew at the same pace as the economy which was quite brisk.

Stupid debt reduction giving us low interest rates affording home ownership!

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Capn Sunshine Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 02:41 PM
Response to Reply #20
40. The economic climate fostered by the Clintons is what boomed Silicon Valley
People tend to buy this rightwing notion that "the tech bubble" created all this wealth they refer to, and that the Clinton adminsitration was extant of the entire phenomena.

Sorry, but with Al Gore riding shotgun, The Clinton administration responded to knee jerk legislation and congressional attempts to steer that money back to Wall Street almost daily.

The "bubble" appeared when the shrewd operators began to run their ever-present scams with Wall Streets boys getting their piece of the action. Same guys made a bundle in the last six years off of the "privatization" of things.

There's a substantial argument that the "bubble pop" wouldn't have occurred if the gov had gone ahead and ordered the infrastructure things needed to update the computer systems used by the various branches. Many are running 386's with versions of Windows 3.0.

That said, to deny that the heat hasn't moved from technology to weapons systems- a direct reflection of BushCo- is pretty naive. And That's what you're doing when you buy this argument that the Clinton Administration had nothing to do with the economy.
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ProudDad Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-27-07 08:04 PM
Response to Reply #40
59. I'm from the heart of "tech bubble" country
Edited on Tue Feb-27-07 08:05 PM by ProudDad
what fueled it was a whole shit-load of "venture capitalists" who didn't know a bit from the holes in their heads. It was a Wall Street frenzy that had NO basis in any reality -- very much like today's stock market -- and had NO basis in what was good for people or the country. They were only interested in "making a quick killing" and then getting out.

It collapsed under its own weight. You can only sell bullshit hot air for a short time and then folks catch on that you're selling nothing.

The Clinton presidency had bloody little to do with it since the bubble began building in the late 80's and was pretty much burst by the mid-90's.

The "Tech Bubble" was ALL ABOUT WALL STREET!!!
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OneBlueSky Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 11:13 AM
Response to Original message
34. we're at a time in history when we're going to have to learn to manage econonmic contraction . . .
not continue to hope for infinite growth in a finite world . . . Americans will have to stop consuming their inequitable share of the planet's resources and learn to live with something less than the "American lifestyle" -- which is greedy, wasteful, and unsustainable . . .

that's a whole different challenge than expanding the economy -- which will be hard to do given the far less favorable circumstances that exist now than when Bill took office . . . some of which, btw, are the direct result of his policies . . .
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CRH Donating Member (671 posts) Send PM | Profile | Ignore Tue Feb-27-07 03:49 PM
Response to Reply #34
55. Thank You very much for saying this ...
we're at a time in history when we're going to have to learn to manage economic contraction . . .

not continue to hope for infinite growth in a finite world . . . Americans will have to stop consuming their inequitable share of the planet's resources and learn to live with something less than the "American lifestyle" -- which is greedy, wasteful, and unsustainable . . .

************

I sometime wonder if I am alone in thinking and expressing this cause and effect concept. The economies of the future can not depend on infinite growth, and the society needs to begin to adjust expectations to realistic consumption and lifestyles.

The politicians and economists of today have their collective heads in the sand.
6.6 Billion mouths to feed
Global Warming
Post fossil fuel energy

I'll be really impressed if someone balances the budget again while providing for the future.
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OneBlueSky Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-28-07 09:04 AM
Response to Reply #55
67. "The politicians and economists of today have their collective heads in the sand" . . .
Edited on Wed Feb-28-07 09:08 AM by OneBlueSky
oh, they have their heads somewhere, all right . . . but it ain't in the sand . . .

let's just say they're "remaining within themselves" . . . :silly:

thanks for your message . . . notice that no one else bothered to comment? . . . says something about our collective delusions, don'tcha think? . . .
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oasis Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 11:35 PM
Response to Original message
42. Hil and Bill: The Package Deal.
:woohoo:
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Colobo Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 11:58 PM
Response to Reply #42
44. I can't believe some people think Hillary is the female version of Bill
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oasis Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-27-07 02:24 AM
Response to Reply #44
48. They enhance each other's best qualities. That's what "some people" believe. (eom)
Edited on Tue Feb-27-07 02:30 AM by oasis
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Alamom Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-27-07 07:34 AM
Response to Reply #44
49. They don't. They think of them as a team. (2 - two - II ) TWO incredibly
brilliant and experienced people working together.


It's not a hard concept to grasp....really. :* B-) or :pals:
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oasis Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-27-07 12:16 PM
Response to Reply #49
52. "Seven Habits" Steven Covey would say "1+1=3". Two entities creating a third.
Bill+Hill=better America for all.:-)
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Colobo Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-27-07 08:08 PM
Response to Reply #52
62. I don't buy it
Bill Clinton is not running. His wife is, and her is the one I care about.
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oasis Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-28-07 03:09 AM
Response to Reply #62
63. So you expect Bill to go into hibernation for 4 years while Hillary runs the show?
Okee doke.:eyes:
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eridani Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-26-07 11:57 PM
Response to Original message
43. Poverty, homelessness and food bank usage grew dramatically in the 90s
Also bankruptcies, and the (mostly minority) prison population. Increases in "average" income mean exactly jackshit to anybody living in the real world. If 9 kids get nothing for an allowance and the 10th kid gets $10 a week, the "average" kid gets $1 a week. This is utterly meaningless in terms of peoples' lives.

Nice that so many more people who aren't sick have health insurance. Too bad the same doesn't apply to actual sick people.

The definition of poverty has become steadily more meaningless ever since it was first used. It takes no account of housing and utilities. Millions more crappy service jobs without benefits. Wow! The people who hold 2 or 3 of them to survive are really impressed! Not. Selling each other cheap Chinese crap and putting each other in jail are not sustainable ways to grow an economy that benefits everybody.
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Ignacio Upton Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-27-07 12:40 AM
Response to Reply #43
45. The growth of the Kennedy-Johnson years dwarfed the Clinton years
That said, Clinton could have done a lot more had 1994 not happened. Then again, considering all the conservative DINOsaurs who were still in Congress, it's hard to say.
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wyldwolf Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-27-07 04:09 PM
Response to Reply #45
56. there was a lot more spending then, too
The economic prosperity of the 50s and 60s were a result of the boom after WWII. Econ 101.

But the 60s also so a huge rise in government spending. Comparing apples to apples, the 60s did not dwarf the 90s. Not even close.
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paulk Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-27-07 07:01 PM
Response to Reply #43
58. poverty fell under Clinton
"Lowest Poverty Rate Since 1979. In 1999, the poverty rate dropped from 12.7 percent to 11.8 percent, the lowest rate in two decades. Since President Clinton and Vice President Gore passed their Economic Plan in 1993, the poverty rate has declined from 15.1 percent in 1993 to 11.8 percent in 1999 - the largest six-year drop in poverty in nearly 30 years (1964-1970). There are now 7 million fewer people in poverty than in 1993, and over 2.2 million, or over 30 percent, of this decline occurred during the past year.

Largest One-Year Drop in Child Poverty in More than Three Decades. Under President Clinton and Vice President Gore child poverty has dropped by 25.6 percent -- from 22.7 percent in 1993 to 16.9 percent in 1999. While this is still too high, it is the lowest child poverty rate since 1979 and includes the largest one-year decline since 1966, which occurred from 1998 to 1999. The African American child poverty rate has fallen 28.2 percent since 1993, and dropped from 36.7 percent in 1998 to 33.1 percent in 1999 -- the largest one-year drop in history and the lowest level on record (data collected since 1959). The Hispanic child poverty rate has fallen by 26 percent since 1993, and dropped from 25.6 percent in 1998 to 22.8 percent in 1999 -- the lowest level since 1979. "

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IndianaGreen Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-27-07 01:54 AM
Response to Original message
46. Bill Clinton's economic expansion was done at the expense of the working class
Big Dog may have been a Saviour to the investor class, but for those that saw their jobs go overseas, he was a false prophet.

We live in different times now.
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wyldwolf Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-27-07 12:34 PM
Response to Reply #46
54. no it wasn't.
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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-27-07 04:15 PM
Response to Reply #54
57. See post #4. n/t
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wyldwolf Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-28-07 06:17 AM
Response to Reply #57
65. already have. So?
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ProudDad Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-27-07 08:07 PM
Response to Reply #54
61. Nyah, Nyah, Nyah
Yes it was!!!
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wyldwolf Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-28-07 06:18 AM
Response to Reply #61
66. are you prouddad or proud kid?
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rodeodance Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-27-07 07:56 AM
Response to Original message
51. Thanks for you detailed post. Much appreciated.
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ProudDad Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-27-07 08:06 PM
Response to Original message
60. Wow, wolfie
you've convinced me!

That Clinton/Gingrich combination was hella good!!!!
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wyldwolf Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-28-07 06:16 AM
Response to Reply #60
64. wow, pappy! I would expect you to give Newt Gibgrich credit
The GOP fought Clinton at every turn, and not one Republican voted for the '93 budget bill.
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