Friday, August 28, 2009

Y'All Remember the Clinton Expansion?

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.

7 comments:

  1. O ye of little faith...

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  2. You pegged it. Clinton took the credit, but it was Ronnie's work.

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  3. You 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.

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  4. ...other than the 1930's of course.

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  5. Struppster: Go here:

    http://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%.

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  6. Thank you.

    I enjoyed that brief summary at the bottom of the page there too.

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  7. My name didn't appear there for some reason.

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