How Bill Clinton's Truths fueled the 90's Economy
by Lakrosse, Wed Jul 02, 2008 at 02:09:39 PM EDT
So everyone knows that some have chosen to make diaries bashing Bill Clinton's economy, either crediting "lies" that never happened, or crediting only the dot-com bubble, which is absolutely specious. The economy under Bill Clinton did well because he took the steps needed to end the deficit which was to raise taxes on the rich big time: this in turn fixed up the bond markets which in turned fueled the economic boom we knew back then. Ever Republican in both houses voted against it. Unfortunately for them, the economy took off, and the budget deficit died. Bill Clinton did that by telling the truth to the American people how tax cuts for the rich were why the deficit was so high and the economy bad.
Bill Clinton also fixed the economy by signing the Family Medical Leave Act, which made it possible for women to take leave while they took care of their child, he also raised the earned income tax credit. This in turn lifted people out of poverty, which fell in every demographic group in terms of race and gender. The dot-com boom only helped the rich. It didn't change the lives of most of the working Americans who went out of poverty under President Clinton.
More countries chose to invest in us due to the deficit Clinton ended. 22 million new jobs because they knew we wouldn't go under like we would have under Bush Sr. had he got another term. Was he a free trader? YES he was, but eveyr living former President supported NAFTA too, and Bush I negotiated it. Welfare reform got those people on welfare into jobs, ending welfare as we knew it, making welfare what it was always meant to be: a second chance, not a way of life. It was indeed Bill Clinton's truths which fueled the economy of the '90's. I hope the radical Kos-like Clinton haters get that.