A Balanced Approach: Tax like Bush, Spend like Clinton

American Thinker ^ | 06/07/2012 | Randall Hoven

[SeekAndFind]

OK, Democrats, you've convinced me. The last 8, 10, or 12 years (or whatever amount of time it takes to cover Bush's two terms and their aftermath) were just terrible, and we mustn't repeat or imitate such folly. Perhaps the example to follow would be that of another Democrat. Say, a Democrat president who followed a President Bush. A Democrat who entered office shortly after a financial crisis and a recession.

Bill Clinton succeeded George H.W. Bush. He was elected in 1992, or just after the 1990-91 recession ended and while the Savings & Loan bailout (Little TARP) was still in progress.

So what did President Clinton do? He cut spending (as a fraction of GDP). Yes, he did that even before Republicans took over Congress. And he took it below its 40-year average by his fourth year in office.



But look what Obama did. He did not "waste" a crisis like Clinton did. He took every ounce of George W. Bush's 2009 spending, added a $410-billion Omnibus and an $831-B stimulus, asked for the second helping of the $700-B TARP, and never looked back. The recession ended in June 2009, but the spending never stopped; it is still above the pre-2009 peacetime high.

In round numbers, we are spending about 4% of GDP, or about $600 B, every year above our pre-2009 post-war average. The new normal is a "stimulus" every single year.

[BenLurkin]

if people really want the prosperous 90s back then they should be clamoring for a President Gingrich.

[chuck_the_tv_out]

“He cut spending (as a fraction of GDP)”

BULL****. GDP went UP so fast (because of Reaganomics) that government spending could not KEEP UP.

Don’t be a fool to think that Clinton was good in any way. Don’t be a stupid fool.

[SERKIT]

All well and good, but who will take the Newt Role and hold the line in Congress? Clinton gets credit for Congressional achievements? We have no Conservatives in leadership roles, and Boehner is falling flat. Not real impressed with Mitch McConnell either.

[Theoria]

Government spending is part of the calculation for GDP.

We have been living a lie. We are using debt to run our economy.