Posted on 09/19/2012 6:42:41 AM PDT by Perdogg
Amidst the debates on what the US should do to re-establish an era of prosperity, there are a lot of references in the media and at political conventions to the "Clinton Recovery". This refers to the period from 1992 to 2000, the best in post-war history: 19% equity returns, 3.8% annualized real GDP growth, monthly payroll gains of 265,000 (adjusted for today’s population) and an average budget deficit of less than 2% of GDP. As Michael Cembalest of JPMorgan notes, applying a President’s name to a recovery or recession always seems to be a case of artistic license; you might as well call it "The Kardashian Recovery" in some cases, given how little Presidential policies had to do with it. Most of the time, domestic and global business cycles, monetary policy and other factors were the primary drivers. However, to recreate the policy conditions which prevailed would require a centrist - who most likely would have been excommunicated by his party for heresy as the political middle ground occupied by the party non-conformists is gone.
(Excerpt) Read more at zerohedge.com ...
ping
The “Clinton” Recovery was due to Newt Gingrich and a REPUBLICAN CONGRESS forcing him to BALANCE THE BUDGET
I never thought I would hear myself say this but I miss Bill Clinton
Too bad. That was a great time for me to really increase the net worth...the 90’s were mainly my time in my 20’s. Good times. I know the Republicans had a lot to do with it as well.
I understand that the Republicans were in the majority in Congress and helped Bill Clinton. But the Democrats were in the majority with Ronald Reagan but democats never claim that the House helped Ronald Reagan....what is wrong with those Democrats? If I was Democrats, I would be trying to link them with Ronald Reagan which was also a great time in our history. 80’s and 90’s were the absolute best!!!!
If somebody wants to invent something equally transcendent now (are you listening, Al?) then we can have another "recovery." Clinton was just the puppet who happened to be sitting in the chair when that time came.
Yeah, and that nasty little tech bubble thing that wiped out 70% of people's portfolios.
The Clinton recovery... pffft.
Right.
It was accomplished with Conservatives persistence.
Now, there doesn’t seem to be the political will to get it done.
I don’t know how ‘O’ can even talk about recovery with a straight face if he hasn’t even produced a budget yet!
AGREED!
Also, that recovery DIDN’T start until after the 1994 election and the GOP took the house and senate and forced Clinton into balancing the budget. The author here is wrong about 1992. It was Clinton’s failure...along with his Democratic Party congressional majority (look at the 102nd/103rd congress majority Dems H & S), that moved voters to bring in a new crew (104th Congress...majority GOP H & S).
It was the 104th Congress that wrote the Contract with America prior to the election and brought it to bare on the economy that got things right.
The lamestream media will never present the truth about this.
It was the time of the internet/tech bubble, plus corrupt companies inflating their profits driving up their stock prices (everyone (except me) got rich), Clinton's slashing of the military. How could there not have been an economic boom? Bubba had little if anything to do with it, aside from the fact that his good buddy, former DNC chair, Terry McAuliffe, made a fortune by virtue of his being pals with the CEO of one of those corrupt companies (Global Crossing). He had the incredible 'good fortune' of turning an $100,000 investment into $18 MILLION, then just managed to sell off the stock before the firm went bankrupt.
Clinton recovery, or “Internet BUBBLE?”
This was not the “Clinton Recovery”. It was due to a Republican congress finally controlling spending, large reductions in the capital gains and other taxes and the Republican Congress restricting anti-business initiatives by the Clinton Administration. The growth was from 1995 to 1999. 1993 and 1994 were low growth, high deficit years. Clinton lost big in the 1994 midterm election because the economy was doing poorly.
Clinton allowed his friends to manipulate the law and so you had the bubble of the late 1990’s. Stock prices peaked in late 1999 and early 2000. You also had the massive accounting fraud by Clinton donors such as Enron, and many others, which did not play out until the early 2000’s. Barnard Madoff set up his fraudulent operation and made much of his money during the 1990’s. There was a great deal of fraud during that time.
Finally, the investments made during the Reagan years produced many of the benefits America saw in the 1990’s.
Clinton had nothing to do with the so called “Clinton recovery”.
The “Clinton Recovery” was actually the tail-end part of the MUCH longer “Reagan Recovery.” Clinton serendipitously benefitted from the tremendous gains in productivity driven by computing, network bandwidth, and internetworking.
There is no “new frontier” of an internet bubble as there was in the 1990s. It burst by 1998.
after the gulf war oil slide to 10 dollars a barrel...it was like a trillion dollar stimulus every year for 7 years...that was the clinton recovery
What do you think?
+1
Internet ‘gold rush’. Pets.com @ 900? Yeah, right!
Bill Clinton did set the tone, though, with his ‘The Era of Big Government is Over’, state of the union speech.
And while ChinaGate was going on. He was doing an Obama: slashing our military while helping our enemies build and increase theirs.
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