Yah--the Clinton economic expansion--the one that ran on the road paved by Reagan.
That one.
Peak growth in the last expansion? 3.6%.
Not bad. But it is Milorganite compared to what President Jesus predicts for HIS expansion.
Obama's glide path to fiscal responsibility -- where we merely run nearly a trillion dollars in deficits every single year -- relies upon the assumption we'll rocket to 3.8% growth by 2011 and then in excess of 4% growth for three years running, 2012-2014.
Ace points out that those numbers are wildly improbable. Perpetual Motion machines will exist before that level of growth occurs, folks.
But hey! TOTUS says it can happen.
O ye of little faith...
ReplyDeleteYou pegged it. Clinton took the credit, but it was Ronnie's work.
ReplyDeleteYou are talking about the same Reagan administration that ran deficits larger than any other time in American history up until now correct? I believe we were running around 50% debt/GDP levels back then.
ReplyDelete...other than the 1930's of course.
ReplyDeleteStruppster: Go here:
ReplyDeletehttp://zfacts.com/p/318.html
And you'll find that Reagan/Bush Admin's maxed Debt/GDP at about 70% or so.
GWB left when that ratio was about 80%.
Thank you.
ReplyDeleteI enjoyed that brief summary at the bottom of the page there too.
My name didn't appear there for some reason.
ReplyDelete