Wednesday, February 21, 2007

Another Clinton Benefitting from Republican Economics?

The Christian Science Monitor has an interesting article on the current state of the US economy and the fact that the spending deficit is rapidly shrinking. Apparently, the increased tax revenue being generated by the overall strength of the economy is quickly erasing the budget defecits and projections are beginning to show coming surpluses.

Something you would never hear on the evening news of course is the fact that we are now in our sixth year of economic expansion. If that term sounds familiar, it's because it we were constantly reminded during the late 1990's of the fact that "President Clinton presided over the longest economic expansion in American history." Well, that economic expansion was the result of President Reagan's fiscal policies in the 1980's, and the only thing that kept that expansion from spanning both decades was the misguided economic planning of the first Bush Administration. President Clinton's tax-and-spend policies had little to do with the decline in the deficit of the early 90's.

So of course, we're now sitting in the middle of another economic expansion, born out of President Bush's "irresponsible" tax cuts in his first term, and just about the time the next Democrat is elected to the White House (I see little thusfar to lead me to believe a Republican can win thanks to the liberal media and the general lack of true conservative candidates) I'm sure we'll suddenly hear all about the progress the economy is making now that a Democrat is in office again.



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