Resurrecting The "Clinton Economy"???

[Medicine Man]

This would have to be Republicans' worst-nightmare...a repetition of a...​

...PROVEN $trategy!!
January 18, 2015

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"President Barack Obama's new tax plan ran into rapid criticism from the Republicans on Sunday, underscoring the challenges facing any attempt to overhaul the U.S. tax code.

With the start of a new Congress this month under Republican control, lawmakers have been discussing tax reform. However, with Congress deeply divided on fiscal policy, Obama's latest tax plan is likely to hit strong opposition.

Unable to compromise over taxes and spending, Washington has not thoroughly revamped the code in 28 years, although it is commonly acknowledged that the tax code is riddled with loopholes and does not raise enough revenue to pay the country's bills.

The U.S. economy is growing again and last year added jobs at the fastest clip since 1999. While the government still borrows to meet its budget, the deficit has declined sharply.

Ahead of Obama's State of the Union address on Tuesday, senior administration officials said on Saturday the Democrat president will call for new taxe$ on the wealthy and on Wall $treet bank$, both Republican constituencies."

Whew...talk about....​

...Deja VU!!!!!
May 22, 1997

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"Not only was the entire national deficit eliminated after raising taxe$ on the wealthy in 1993, but the economy grew so fast for the remainder of the decade that many conservative economists thought that the Fed should raise the prime interest rate in order to slow it down."

 

[Medicine Man]

It seems about-that-time, anyhow.....​

1%ers'/High-Roller$' Exceptional-Greed!!
January 19, 2015

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"We all know the rich are getting richer and the poor are getting poorer — but the inequality gap may be widening faster than you think. Within two years, the top 1% will have more wealth than the remaining 99% of people on the planet, a new study says.

Just in time for the billionaire-and-politician get-together in Davos, Switzerland, Oxfam’s report on Monday lays out the increasing concentration of global wealth among a small elite.

“In 2014, the richest 1% of people in the world owned 48% of global wealth, leaving just 52% to be shared between the other 99% of adults on the planet,” said development organization Oxfam in its report. Nearly all of that remainder is owned by people in the richest 20%, and just 5.5% goes to 80% of the world’s population.

And then here’s the depressing kicker: “If this trend continues, of an increasing wealth share to the richest, the top 1% will have more wealth than the remaining 99% of the people in just two years ... with the wealth share of the top 1% exceeding 50% by 2016,” said Oxfam."

 

[TV and credit cards]

And the opening statement of the Oxfam Report:

Global wealth is increasingly being concentrated in the hands of a small wealthy elite. These wealthy individuals have generated and sustained their vast riches through their interests and activities in a few important economic sectors, including finance and pharmaceuticals/healthcare. Companies from these sectors spend millions of dollars every year on lobbying to create a policy environment that protects and enhances their interests further. The most prolific lobbying activities in the US are on budget and tax issues; public resources that should be directed to benefit the whole population, rather than reflect the interests of powerful lobbyists

There are root problems, weeds we might call them that crowd out what should grow. Lobbying is one of those weeds. Just think what life might be like, what other problems might be solved without the influence of money upon those that make our laws. Politicians might actually be nice people. Yeah, I said it. We can't know unless they are freed from the shackles and chains of campaign contributions. On this day of all days, I say, break what binds our politicians. Free them so they can do the peoples work. Good work that provides not just for today but for our children's tomorrow. Free them so they can say: I will do this. This is right. This is good. Free them so they can stand, proud of the society they help create. So that in their time of dying, their memorial will be that society. A good society that helps it's neighbor. A society that does not need divine guidance to know right from wrong. But a society that knows right from wrong because it's children were raised in that society of good laws and they know no other. And these laws are written by those with the best interest of all it's citizens in mind.
Free them at last!

 

[Jason Harvestdancer]

Not only was the entire national deficit eliminated after raising taxe$ on the wealthy in 1993, but the economy grew so fast for the remainder of the decade that many conservative economists thought that the Fed should raise the prime interest rate in order to slow it down."

1. Choose a font and stick with it. Postings like that are either a sign of extreme excitability or of narcissism.

2. The highly contested tax vote was in 1993, the so-called surplus was in 1999. There's quite a bit between the two that happened even in the land of post-hoc ergo propter-hoc. By the way, the surplus was only "so-called", tiny deficits do not a surplus make. Do not demean Clinton's real achievement by exaggerating it into fiction. Most of Clinton's presidency he had a Republican legislature and we the people got to enjoy a divided government.

3. Conservatives and liberals look at the question of what is a proper interest rate to set, ignoring the libertarian question of whether it is even possible for there to be a proper rate in the first place. We saw the 1990s as the first of the epic series of bubbles that got us where we are today, with the 1990s dot-com bubble. It was by skimming off the top of the bubble that enabled the US government to almost balance the budget.Next came the real estate bubble under Bush the lesser. I neither credit nor blame eiuther Bush or Clinton, but firmly and roundly blame Greenspan.

 

[Medicine Man]

Not only was the entire national deficit eliminated after raising taxe$ on the wealthy in 1993, but the economy grew so fast for the remainder of the decade that many conservative economists thought that the Fed should raise the prime interest rate in order to slow it down."

2. The highly contested tax vote was in 1993, the so-called surplus was in 1999. There's quite a bit between the two that happened even in the land of post-hoc ergo propter-hoc. By the way, the surplus was only "so-called", tiny deficits do not a surplus make. Do not demean Clinton's real achievement by exaggerating it into fiction. Most of Clinton's presidency he had a Republican legislature and we the people got to enjoy a divided government.

Keep Tryin'....​

Another Record Budget Surplus
September 27, 2000

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"President Clinton announced Wednesday that the federal budget surplus for fiscal year 2000 amounted to at least $230 billion, making it the largest in U.S. history and topping last year's record surplus of $122.7 billion. "This represents the largest one-year debt reduction in the history of the United States," Clinton said Wednesday morning. "Like our American athletes in Sydney, we've been breaking records and have come a long way." In June, the administration predicted the surplus would be $211 billion, and would increase by as much as $1 trillion over the next 10 years. Clinton also announced the federal government paid down the national debt by $223 billion this year, and by more than $360 billion since 1998, the largest debt reduction in U.S. history. "The key to fiscal discipline is maintaining these results year after year. We need to put our priorities in order," Clinton said."

....And, then....Lil' Dumbya decided to give-away any future surpluses in tax-cuts!!!​

 

[arkirk]

The decay of our government's service to the American people continued under Clinton. The Clintons are money grubbers and have clearly neo-liberal agendas that simply helped keep the bubble machine going. They clearly are not the kind of people I want to see running the country. While the Democratic party swoons and dotes on these charlatans, it has lost all of its progressive values and also the last election. Admittedly the Clintons were slightly less harmful than the Bushwacking we received after Willy left office, they are corporatists and do not offer an actual solution to our current problems.

 

[Medicine Man]

The decay of our government's service to the American people continued under Clinton. The Clintons are money grubbers and have clearly neo-liberal agendas that simply helped keep the bubble machine going.

At least they kept the....​

...Jobs Machine Going
January 9, 2009

23.1 Million​

​

 

[Loren Pechtel]

Clinton got a good situation and didn't go around trying to put his mark on it and fuck it up in the process.

That's not the answer these days as we don't have a good situation to start with.

 

[Jason Harvestdancer]

1. Choose a font and stick with it. Postings like that are either a sign of extreme excitability or of narcissism.

2. The highly contested tax vote was in 1993, the so-called surplus was in 1999. There's quite a bit between the two that happened even in the land of post-hoc ergo propter-hoc. By the way, the surplus was only "so-called", tiny deficits do not a surplus make. Do not demean Clinton's real achievement by exaggerating it into fiction. Most of Clinton's presidency he had a Republican legislature and we the people got to enjoy a divided government.

Keep Tryin

Another Record Budget Surplus
September 27, 2000

"President Clinton announced Wednesday that the federal budget surplus for fiscal year 2000 amounted to at least $230 billion, making it the largest in U.S. history and topping last year's record surplus of $122.7 billion. "This represents the largest one-year debt reduction in the history of the United States," Clinton said Wednesday morning. "Like our American athletes in Sydney, we've been breaking records and have come a long way." In June, the administration predicted the surplus would be $211 billion, and would increase by as much as $1 trillion over the next 10 years. Clinton also announced the federal government paid down the national debt by $223 billion this year, and by more than $360 billion since 1998, the largest debt reduction in U.S. history. "The key to fiscal discipline is maintaining these results year after year. We need to put our priorities in order," Clinton said."

Keep trying.

USA Historic Debt Outstanding - Annual

At no point did the debt ever go down. Going down is what happens when there is a surplus. Especially once you count all the expenses.

....And, then....Lil' Dumbya decided to give-away any future surpluses in tax-cuts!!!

Then you shouldn't have voted for him. That's your mistake.

Narcissistic fonts snipped.

 

[Medicine Man]

Then you shouldn't have voted for him. That's your mistake.

Sorry....I never did vote, for him.

I'd never assumed his participation (in The Great Texas Air-War) qualified him for the Presidency.

​

 

[Medicine Man]

Clinton got a good situation and didn't go around trying to put his mark on it and fuck it up in the process.

That's not the answer these days as we don't have a good situation to start with.

I guess the folks at The IMF forgot to consult with you.....​

IMF Lowers Global Growth Forecast
January 20, 2015

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"The IMF made the steepest cut to its global-growth outlook in three years, with diminished expectations almost everywhere except the U.S. more than offsetting the boost to expansion from lower oil prices.

The U.S. is the exception. The IMF upgraded its forecast for the world’s largest economy to 3.6 percent growth in 2015, up from 3.1 percent in October. Cheap oil, more moderate fiscal tightening and still-loose monetary policy will offset the effects of a gradual increase in interest rates and the curb on exports from a stronger dollar, the fund said."

 

[Jason Harvestdancer]

Then you shouldn't have voted for him. That's your mistake.

Sorry....I never did vote, for him.

Thank you for conceding that I was right about the deficit.

 

[ksen]

It seems about-that-time, anyhow.....​

1%ers'/High-Roller$' Exceptional-Greed!!
January 19, 2015

View attachment 2071​

"We all know the rich are getting richer and the poor are getting poorer — but the inequality gap may be widening faster than you think. Within two years, the top 1% will have more wealth than the remaining 99% of people on the planet, a new study says.

Just in time for the billionaire-and-politician get-together in Davos, Switzerland, Oxfam’s report on Monday lays out the increasing concentration of global wealth among a small elite.

“In 2014, the richest 1% of people in the world owned 48% of global wealth, leaving just 52% to be shared between the other 99% of adults on the planet,” said development organization Oxfam in its report. Nearly all of that remainder is owned by people in the richest 20%, and just 5.5% goes to 80% of the world’s population.

And then here’s the depressing kicker: “If this trend continues, of an increasing wealth share to the richest, the top 1% will have more wealth than the remaining 99% of the people in just two years ... with the wealth share of the top 1% exceeding 50% by 2016,” said Oxfam."

Honestly, this is the scariest stat to come out of that report that I've seen so far:

http://www.theguardian.com/business...-inequality-davos-economic-summit-switzerland

The charity’s research, published on Monday, shows that the share of the world’s wealth owned by the best-off 1% has increased from 44% in 2009 to 48% in 2014

In five short years the 1% have increased the amount of wealth they from 44% to 48% of the total.

I guess we'll find out soon enough if there is a tipping point or not since wealth accumulation seems to be exponential rather than linear.

 

[ksen]

http://fivethirtyeight.com/datalab/meet-the-80-people-who-are-as-rich-as-half-the-world/

Oxfam then looked at how many of the world’s richest people would need to pool their resources to have as much wealth as the poorest 50 percent — and as of March 2014, it was just 80 people.

Four years earlier, 388 billionaires together held as much wealth as the poorest 50 percent of the world.

In four years the world has gone from 388 people owning as much as the bottom 50% to only 80 people owning as much as the bottom 50%.

Working as intended I guess.

 

[Medicine Man]

Clinton got a good situation and didn't go around trying to put his mark on it and fuck it up in the process.​

Riiiiiiiiiiiiiiiiiiight....and, that's why..... ​

"Conservative politicians always threaten the public that, if Congress or the President raises taxes on the wealthy, the economy will slow down, unemployment will go up, and workers' wages will go down.

Conservatives’ hidden agenda: we want to allow our wealthy supporters—the ones who benefited most from the economic policies that forced huge sacrifices onto American workers during the 1980s and 90s—to be able to keep more of their money.

Reality: Raising taxes on the wealthy is much more likely to reduce the deficit and make more money available to proactively solve America’s problems—and save money in the long run. In addition, it may have absolutely no negative effect on economic growth, jobs or wages.

Here’s what conservative politicians said about the 1993 deficit reduction legislation that raised taxes on the top 1.2% of our wealthiest citizens:

"Clearly, this is a job-killer in the short-run. The impact on job creation is going to be devastating."
— Rep. Dick Armey, (Republican, Texas)

"The tax increase will…lead to a recession…and will actually increase the deficit."
— Rep. Newt Gingrich (Republican, Georgia)

"I will make you this bet. I am willing to risk the mortgage on it…the deficit will be up; unemployment will be up; in my judgment, inflation will be up."
— Sen. Robert Packwood (Republican, Oregon)

"The deficit four years from today will be higher than it is today, not lower."
— Sen. Phil Gramm (Republican, Texas)

"The President promised a middle-class tax cut, yet he and his party imposed the largest tax increase in American history. We hope his higher taxes will not cut short the economic recovery and declining interest rates he inherited… Instead of stifling growth through higher taxes and increased government regulations, Republicans would take America in a different direction."
— Sen. Robert Dole (Republican, Kansas)​

I guess it's always possible you were confused by too-many "big"-words....but, most literate-folks know better-than-that, now.....​

The GREATE$T Economy The U.S.
HAD EVER EXPERIENCED!!
1993 thru 2000​

 

[arkirk]

Isn't it possible Clinton did two things at once...increased the taxes a bit...and also started inflating a new bubble...one which would make him millions personally. I regard Clinton as a slight of hand artist. Him and his wife have always been big time speculators. Medicine man needs to explain why we got NAFTA from these characters and also deregulation of the banks. This kind of activity only benefits large corporations and rich speculators. The Clinton plan was to move their operations largely offshore. I regard Clinton and Gore both as speculators and did not find their sexual antics as particularly honorable either. Clinton simply diverted our attention from what he was doing with a band-aid.

Another halmark of the Clinton administration was out of sight war...just like Reagan. We don't need this kind of leadership.

 

[Medicine Man]

http://fivethirtyeight.com/datalab/meet-the-80-people-who-are-as-rich-as-half-the-world/

Oxfam then looked at how many of the world’s richest people would need to pool their resources to have as much wealth as the poorest 50 percent — and as of March 2014, it was just 80 people.

Four years earlier, 388 billionaires together held as much wealth as the poorest 50 percent of the world.

In four years the world has gone from 388 people owning as much as the bottom 50% to only 80 people owning as much as the bottom 50%.

Working as intended I guess.​

....With a little help & encouragement from The Teabaggers....​

“Tea Party my ass. This was nothing other than the Republican Party stealing the anger of a population that was fed up with the Republican Party’s own theft of their tax money at gunpoint to bail out the robbers of Wall Street and fraudulently redirecting it back toward electing the very people who stole all the ****ing money!”

- Karl Denninger​

 

[Jason Harvestdancer]

Isn't it possible Clinton did two things at once...increased the taxes a bit...and also started inflating a new bubble...one which would make him millions personally. I regard Clinton as a slight of hand artist. Him and his wife have always been big time speculators. Medicine man needs to explain why we got NAFTA from these characters and also deregulation of the banks. This kind of activity only benefits large corporations and rich speculators. The Clinton plan was to move their operations largely offshore. I regard Clinton and Gore both as speculators and did not find their sexual antics as particularly honorable either. Clinton simply diverted our attention from what he was doing with a band-aid.

Another halmark of the Clinton administration was out of sight war...just like Reagan. We don't need this kind of leadership.

He's not really going to understand that. He's still at the early stage of political activity where you cannot criticize anyone on your own side. Seeing someone criticize anything about Clinton, or about Obama, or about font choice, is proof you are a die-hard Republican.

 

[Medicine Man]

Isn't it possible Clinton did two things at once...increased the taxes a bit...and also started inflating a new bubble...one which would make him millions personally.​

Anything's possible....up-to-and-including the suggestion of hypotheticals....where no actual details are required. ​

 

[Medicine Man]

Isn't it possible Clinton did two things at once...increased the taxes a bit...and also started inflating a new bubble...one which would make him millions personally. I regard Clinton as a slight of hand artist. Him and his wife have always been big time speculators. Medicine man needs to explain why we got NAFTA from these characters and also deregulation of the banks. This kind of activity only benefits large corporations and rich speculators. The Clinton plan was to move their operations largely offshore. I regard Clinton and Gore both as speculators and did not find their sexual antics as particularly honorable either. Clinton simply diverted our attention from what he was doing with a band-aid.

Another halmark of the Clinton administration was out of sight war...just like Reagan. We don't need this kind of leadership.

He's not really going to understand that. He's still at the early stage of political activity where you cannot criticize anyone on your own side. Seeing someone criticize anything about Clinton, or about Obama, or about font choice, is proof you are a die-hard Republican.

So, YOU'RE the keeper o' arkirk's details....regarding "a new bubble...one which would make [Clinton] millions personally."?????

Please....CONTINUE!! ​