It wasn’t the dot com boom.
I think the stimulus was an attempt to generate another boom. It didn’t, but we still have to pay back the money we borrowed to pay for the boom we didn’t get.
That would be a year after the Repubs took Congress, right?
Yeah, but look at the price of oil. Oil was at historic lows from about 1992 to 1999, and began to skyrocket in 2001. 1999 was when the stock market began to show wear. 2000 was when it peaked and began to fall. I would argue that the stock market boom resulted from the low oil prices, and the dot coms went along for the ride. The dot coms were not enough in themselves to cause an economic boom. They were too small a piece of the economy. But oil fuels the entire economy.