There is about a 6 month lag time. The economy had turned when Clinton took office. The recovery had started.

The thing I was referring to with Greenspan was his artificially low discount rate going for far too long (FED Monetary Policy). That was leg one of the three legged stool of Bush economic policy. Far too easy credit. Artificially low credit.

The administration was able to continue generating good economic numbers through artificial, imprudent, somewhat fraudulent means. Eventually, the house of cards came crashing down.

Motivation for this economic policy -- to finance the War in Iraq, as well as beneficial political capital. They go hand in hand.

I voted for Bush the first time. I'd changed my opinion by the end of his first term. Could not believe we actually reelected him for a second term. Fooled me once, shame on you. Fooled me twice, shame on me. Like I always say -- "We get the Government we deserve".

jsc
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"As hard as I've tried, just can't NOT do this"
John Crickmer

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