Clinton's diminishing legacy
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So I noticed that the stock market is way up again today (because of unchanged interest rates) and got to thinking that Bill Clinton must hate that, having accomplished nothing while in office (except...well...you know). I whipped up some undoubtedly bad math to compare his "legacy" of presiding over the "longest economic expansion in history", which really means nothing, to compare it with the current expansion. Bush inherited an ailing economy, recession and impending war and, even when taking into account those couple of years, the US has achieved approximately the same annualized GDP growth rate as during Clinton's term. Even the national debt, when properly weighed against the GDP, is only slightly higher than its recent low in 2000 despite wars raging in the middle east. Granted Bush does have a couple more years to go. I also find it funny that just two years ago, John Kerry was running on a platform based on high unemployment and a skyrocketing "misery index". You liberals are silly.
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So I noticed that the stock market is way up again today (because of unchanged interest rates) and got to thinking that Bill Clinton must hate that, having accomplished nothing while in office (except...well...you know). I whipped up some undoubtedly bad math to compare his "legacy" of presiding over the "longest economic expansion in history", which really means nothing, to compare it with the current expansion. Bush inherited an ailing economy, recession and impending war and, even when taking into account those couple of years, the US has achieved approximately the same annualized GDP growth rate as during Clinton's term. Even the national debt, when properly weighed against the GDP, is only slightly higher than its recent low in 2000 despite wars raging in the middle east. Granted Bush does have a couple more years to go. I also find it funny that just two years ago, John Kerry was running on a platform based on high unemployment and a skyrocketing "misery index". You liberals are silly.
"Misery index"? Do tell... ??
Come and see the violence inherent in the system! Help! Help! I'm being repressed!
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"Misery index"? Do tell... ??
Come and see the violence inherent in the system! Help! Help! I'm being repressed!
The Apocalyptic Teacup wrote:
"Misery index"? Do tell... ??
Oh, you didn't hear about that? John Kerry's campaign came up with it. There were really good GDP growth numbers out and unemployment, which already wasn't high, was beginning to decline pretty quickly. The stock market was on a pretty good march, though not skyrocketing just yet. Since Democrats are leftists and leftists seize political opportunity when the economic cycle is pointing downwards (that's always the best time to start a good ol' class war), John Kerry et al thought it would be a good idea to come up with a "misery index". Basically, they nitpicked data here and there to show that people were worse off than they were when Bush took office. Unfortunately for Kerry, proving to somebody who makes a lot more money than a couple years prior that they're actually doing horribly proved more difficult than he thought.
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The Apocalyptic Teacup wrote:
"Misery index"? Do tell... ??
Oh, you didn't hear about that? John Kerry's campaign came up with it. There were really good GDP growth numbers out and unemployment, which already wasn't high, was beginning to decline pretty quickly. The stock market was on a pretty good march, though not skyrocketing just yet. Since Democrats are leftists and leftists seize political opportunity when the economic cycle is pointing downwards (that's always the best time to start a good ol' class war), John Kerry et al thought it would be a good idea to come up with a "misery index". Basically, they nitpicked data here and there to show that people were worse off than they were when Bush took office. Unfortunately for Kerry, proving to somebody who makes a lot more money than a couple years prior that they're actually doing horribly proved more difficult than he thought.
Red Stateler wrote:
Oh, you didn't hear about that?
No, never heard of it. I didn't follow the campaign so much; I was more interested in the outcome. But this "index" is interesting, mainly because of the article I referenced the other day. The one that found lower income individuals seem to be trading working hours for increased leisure time. In my dictionary, that's not how "misery" is defined. Economically, I think the U.S. is doing quite well, especially in spite of the large external deficit you're carrying. If there's one thing Bush can't be criticized about, it's the American economy.
Come and see the violence inherent in the system! Help! Help! I'm being repressed!
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Red Stateler wrote:
Oh, you didn't hear about that?
No, never heard of it. I didn't follow the campaign so much; I was more interested in the outcome. But this "index" is interesting, mainly because of the article I referenced the other day. The one that found lower income individuals seem to be trading working hours for increased leisure time. In my dictionary, that's not how "misery" is defined. Economically, I think the U.S. is doing quite well, especially in spite of the large external deficit you're carrying. If there's one thing Bush can't be criticized about, it's the American economy.
Come and see the violence inherent in the system! Help! Help! I'm being repressed!
Hmmmmm... Apparently he didn't invent the misery index[^]. I thought he had. Maybe he just modified it for his own purposes.
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Hmmmmm... Apparently he didn't invent the misery index[^]. I thought he had. Maybe he just modified it for his own purposes.
Red Stateler wrote:
Hmmmmm... Apparently he didn't invent the misery index[^]. I thought he had. Maybe he just modified it for his own purposes.
Maybe he modified it. In my opinion it really doesn't have much significance. I'm not familiar with Okun's work, but I'm pretty sure the name is not meant to signify a literal condition. Anyways, it appears as though the misery index under Clinton is insignificantly different from that under Bush. In fact, it appears to me as though the misery index is high during oil crises...
Come and see the violence inherent in the system! Help! Help! I'm being repressed!
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So I noticed that the stock market is way up again today (because of unchanged interest rates) and got to thinking that Bill Clinton must hate that, having accomplished nothing while in office (except...well...you know). I whipped up some undoubtedly bad math to compare his "legacy" of presiding over the "longest economic expansion in history", which really means nothing, to compare it with the current expansion. Bush inherited an ailing economy, recession and impending war and, even when taking into account those couple of years, the US has achieved approximately the same annualized GDP growth rate as during Clinton's term. Even the national debt, when properly weighed against the GDP, is only slightly higher than its recent low in 2000 despite wars raging in the middle east. Granted Bush does have a couple more years to go. I also find it funny that just two years ago, John Kerry was running on a platform based on high unemployment and a skyrocketing "misery index". You liberals are silly.
What recession? Too bad the surplus he built up in Social Security got squandered. And how about the 1.2 trillion we're spending on this war? China grows due to our surmounting debt to them. They have a trillion in reserves in other countries. Nah, like you said. Bad math. Our dollar is depreciating against China's, that's why we sent finance people over them to tell em' to cool it out. :laugh: I'm not saying Clinton was great. I'm personally disappointed in both. But I think when the dust settles no one is gonna come out clean.
This statement was never false.
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So I noticed that the stock market is way up again today (because of unchanged interest rates) and got to thinking that Bill Clinton must hate that, having accomplished nothing while in office (except...well...you know). I whipped up some undoubtedly bad math to compare his "legacy" of presiding over the "longest economic expansion in history", which really means nothing, to compare it with the current expansion. Bush inherited an ailing economy, recession and impending war and, even when taking into account those couple of years, the US has achieved approximately the same annualized GDP growth rate as during Clinton's term. Even the national debt, when properly weighed against the GDP, is only slightly higher than its recent low in 2000 despite wars raging in the middle east. Granted Bush does have a couple more years to go. I also find it funny that just two years ago, John Kerry was running on a platform based on high unemployment and a skyrocketing "misery index". You liberals are silly.
Red Stateler wrote:
So I noticed that the stock market is way up again today (because of unchanged interest rates) and got to thinking that Bill Clinton must hate that
Oh yeah, Clinton really hates the benefits Bush's war-time policies have brought to the super-rich, including Clinton himself. :rolleyes: He just can't wait to use such policies next year to get himself back in the Lincoln bedroom in '09.
SUPPORT OUR TROOPS
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The Apocalyptic Teacup wrote:
"Misery index"? Do tell... ??
Oh, you didn't hear about that? John Kerry's campaign came up with it. There were really good GDP growth numbers out and unemployment, which already wasn't high, was beginning to decline pretty quickly. The stock market was on a pretty good march, though not skyrocketing just yet. Since Democrats are leftists and leftists seize political opportunity when the economic cycle is pointing downwards (that's always the best time to start a good ol' class war), John Kerry et al thought it would be a good idea to come up with a "misery index". Basically, they nitpicked data here and there to show that people were worse off than they were when Bush took office. Unfortunately for Kerry, proving to somebody who makes a lot more money than a couple years prior that they're actually doing horribly proved more difficult than he thought.
Amazing what short memories these folks have even when they were saying it themselves. It's so bad in the US we have no healthcare instead you just walk in to most hospitals and you get taken care of. Hmm note we have the worlds fattest poor people and well then they complain about that too. Nobody wants to go back to New Orleans well duh why would they it's below sea level in the damaged sections. You can't win with whiners they will find a way to whine one way or the other...