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priscilla Posted:
High taxes was NOT what worked for Clinton. Clinton was good at making it easy for people to invest during a period of drastic economic expansion (the greatest economic expansion in the history of the world, actually). Some might say he made it TOO easy for people to invest (see: SUBPRIME MORTGAGE CRISIS ((a direct result of financial policies in the 90s))).
Clinton focused on the trade balance, and it was positive under his administration. This strengthened the dollar (which isn’t necessarily a good thing) and when one currency appreciates, other currencies depreciate under a freely floating exchange rate system. This means that domestically people started buying foreign goods, which then lowered the value of the dollar back in the resulting years. That compiled with the subprime mortgage crisis is why the dollar is low in value (which isn’t necessarily a bad thing). The dollar being so low increases demand of our goods to foreign countries, so this will all work itself out one its own.
I’m not saying that our economy is strictly not doing well because of democratic policies, I’m just tired of the media saying it is Bush’s economic policies that have got us in this mess. FAIL edited this message on 11/04/2008 12:42AM
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Posted On: 11/04/2008 12:38AM | View FAIL's Profile | # |