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What do Presidents Reagan and Clinton have in common?

posted 6/3/2010 10:26:57 AM |
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  sugarnspice005

Their economic policies were successful according to Art Laffer, a former member of President Reagan's economic advisory board. I was about floored when watching Fox and Friends yesterday and I heard this guy say a Democratic president, especially President Clinton, who, if we all remember, the Republicans spent 8 years investigating him on all things from White Water, Hillary on Travel Gate, and then, when they couldn't get him on that...they were able to nail him on Monica Lewinsky. (wow..that just didn't sound right! ).

But...this guy says that both Reagan and Clinton had the "best economic policies". Here is a link to an interview with Mr. Laffer:

Economies


I find it amazing that even though these two presidents were opposites, both were able to have strong economies. If these two former Presidents were able to strengthen the economy, then why is it that former President George W. Bush, and now, President Obama, had and have an economy floundering?

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StraddleMyNose

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Jun 3 @ 10:35AM  
according to Art Laffer, a former member of President Reagan's economic advisory board.
I think old age has finally caught up with him to where he doesn't have a clue on what's he's talking about. JMO
sugarnspice005

Jun 3 @ 10:51AM  
Actually, Laffer is right...when one looks back, those two former Presidents did something right.

I just found it interesting that one was Republican and one was Democrat.
StraddleMyNose

online now!
Jun 3 @ 10:57AM  
Actually, Laffer is right
Sorry, dawn, I don't think he is. But that's how I feel...
Wordsofwit

Jun 3 @ 11:06AM  
If these two former Presidents were able to strengthen the economy, then why is it that former President George W. Bush, and now, President Obama, had and have an economy floundering?

I am not going to spend too much time on this site discussing this, except to say that you ask such a simple question that has no simple answer it is all quite complex.

The economy is slowly improving overall if you drill down into some key indicators.

By and large a President is held accountable for what goes on during his watch regardless of whether he had control or even influence over the situation. Much of the assessment is based upon numbers, before and after, regarding certain bread and butter issues: unemployment, interest rates, inflation rate, the national debt and the like. When a president takes office, he is dealt a hand left by predecessor.

When Clinton took office those numbers weren't very good. They were very good when he left office, When Reagan took office those numbers weren't very good. After four years, they were very good. But when he left office four years those numbers weren't very good. The last four years of the Reagan presidency are largely written in red ink, and George H. Bush got stuck holding the bag.
Ewe_Wish

Jun 3 @ 11:53AM  
Clinton had us the best off, economically, than we had been in in 30 yrs............( I read that somewhere LOL) and if you remember during the Clinton administration things were a lot better.........but if they included the money that was "borrowed" from the social security fund.........i wonder if that would have made it look so good..............now don't get me wrong........Clinton in my opinion was a damn good president, and being the conspiracy theorist that I am, I believe that Monica was a set up deal by the republicans............why else would she not have gotten that dress cleaned...but I think the Dems are just as guilty of doing shit like that as the republicans go.

I am not an Obama follower......and some of the stuff that has happened since he took office, I am not in agreement with BUT I also am not in the privy of knowing how each and every thing effects something else and don't feel I can criticize him for what he has done so far........I also don't believe anyone can tell if someone is a good president or a bad one until they have left office and we can see where we are sitting......thats just my opinion...........I am rather a simpleton where politics is concerned.........I look at my checkbook (my income) and I look at the prices in the store, prices I pay for medical, what gas prices are........ect..............and I can tell you our economy stinks and it doesnt seem like its gotten any better here but that is a mixture of what GW left and what Obama is doing now IMHO
sugarnspice005

Jun 3 @ 12:01PM  
Yep, sometimes I wish Clinton could run again, then I have to stop and think...just because he did good back then....would it be so again? Then I also have to remember that if Clinton could get a third term, then that means someone like Bush could get a third term also.

You are right though..we are not "privy" to the information they are to up there. Like you, I go by what is in my wallet, what prices are in the stores, gas prices and things like medical.

Right now, it isn't fair to judge today's economy solely on Obama...we are still feeling the effects of Bush's economy right now in addition to what what has been passed by Obama.
StraddleMyNose

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Jun 3 @ 12:10PM  
I believe that Monica was a set up deal by the republicans
You're kidding, right?

I haven't heard that one before...
StraddleMyNose

online now!
Jun 3 @ 12:13PM  
Dawn, looks like the idiot is working on your view count again. He's done that with my last two blogs earlier this morning.
Wordsofwit

Jun 3 @ 12:14PM  
It usually takes two to three years to see success in an initiative. First, they have to get it passed, then they have to get it implemented, then comes the period of time to reveal whether the policy/program works.

To sum what I see, I would say, overall, "a lot less terrible" seems to fit compared to two years ago. GM and several other bailout recipients have paid off their bail out loans. The stock market is more up than down. The unemployment rate is dropping nationally (but in the rust belt it remains high), the rate of foreclosures is slowing. American casualties in the two wars are dropping. Interest rates are relatively stable though the market is tight, inflation is not at an unhealthy rate.

I would use the allegory of a floundering boat or ship: many of the leaks have been plugged but more need to be patched followed by pumping water out of the vessel.
Wordsofwit

Jun 3 @ 12:18PM  
I haven't heard that one before...

Neither have I.

I wonder what ever happened to her? I am sure that after her experience in the public sector, that she she blew off politics as it probably left a bad taste in her mouth.
StraddleMyNose

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Jun 3 @ 12:24PM  
I am sure that after her experience in the public sector, that she she blew off politics as it probably left a bad taste in her mouth.
Now that was corny, but funny as hell!
sugarnspice005

Jun 3 @ 12:25PM  
Wow Shawn, you're right...up to 202 views.

Ewe_Wish

Jun 3 @ 12:46PM  
You're kidding, right?
Nope I am not kidding.........and obviously you don't belong to the same sites I do.......... now I am not a great conspiracy theorist because I laugh at most of the stuff that goes around.........Like GW being behind 9/11..........but in the same way.......if you think about it............anything is possible.............and I try to keep an open mind with everyone's theories.

As for Monica...........she was doing commercials for a while for a fat program..........maybe Jenny Craig............not sure which one.........apparently all that protein put on some weight for her.......
B9CC1D

Jun 3 @ 12:55PM  
I wonder what ever happened to her?

For a brief period, she rode out her artificially inflated fame doing commercials, interviews, and even attempting forays in to fashion lines and creating an HBO special. However, she soon became upset that most of the publicity she was receiving was negative.

So she moved to England and went back to college. She now avoids public notice like the plague and hopes to become a more ambiguous citizen with her new degree in social psychology.
Wordsofwit

Jun 3 @ 1:00PM  
From Wikipedia,
By 2005, Lewinsky found that she could not escape the spotlight in the U.S., with both her professional and personal life difficult. She stopped selling her handbag line and moved to London. In December 2006, Lewinsky graduated with a master's degree in social psychology from the London School of Economics where she had been studying since September 2005. Her thesis was titled “In Search of the Impartial Juror: An Exploration of the Third-person effect and Pre-Trial Publicity”. She has since tried to avoid publicity.

Lewinsky did correspond in 2009 with scholar Ken Gormley, who was writing an in-depth study of the Clinton scandals, maintaining that Clinton had lied under oath about his relationship with her: "There was no leeway [there] on the veracity of his statements because they asked him detailed and specific questions to which he answered untruthfully.
B9CC1D

Jun 3 @ 1:39PM  
Data Round-up

President: Ronald Reagan 1981-1989
Economic style: Government deregulation/Currency reduction
Approximate Dow at start of term: 940
Approximate Dow at end of term: 2245 (+139%)
Approximate unemployment at start of term: 7.5%
Approximate unemployment at end of term: 5.3%

President: George H. W. Bush Sr. 1989-1993
Economic style: Supply-side economics
Approximate Dow at start of term: 2245
Approximate Dow at end of term: 3440 (+53%)
Approximate unemployment at start of term: 5.3%
Approximate unemployment at end of term: 7.4%

President: Bill Clinton 1993-2001
Economic style: Free market/Government initiative
Approximate Dow at start of term: 3440
Approximate Dow at end of term: 10860 (+216%)
Approximate unemployment at start of term: 7.4%
Approximate unemployment at end of term: 4.2%

President: George W. Bush Jr. 2001-2009
Economic style: Supply-side economics
Approximate Dow at start of term: 10860
Approximate Dow at end of term: 7360 (-33%)
Approximate unemployment at start of term: 4.2%
Approximate unemployment at end of term: 7.7%

President: Barak Obama 2009-present
Economic style: Recovery initiative/Regulatory initiative
Approximate Dow at start of term: 7360
Approximate current Dow: 10000 (+36%)
Approximate unemployment at start of term: 7.7%
Approximate current unemployment: 8.7%
theSkwirl

Jun 3 @ 1:51PM  
It's very expensive to have a war.
B9CC1D

Jun 3 @ 1:54PM  
What I interpret the above data as meaning...as Bruce noted...oversimplifying it:

Reagan's policies opened the doors for more liberal corporate policy, yet imposed strict controls in regards to inflation. It allowed for strong corporate gains, and modest gains for the rest of the public.

G.B. Senior's policies clearly favored the rich. While some gains were made, the overall effect was to increase the gap between the haves and have-nots, and lowering the standard of life for Middle America.

While Clinton's policies made the largest financial gains in history, it is arguable that they also set up the potential for the current condition that we have by assuming that people would adhere to corporate and economic ethics.

G.B. Junior was a classic case of a lack of ethics, responsibility, and knowledge combined with his father's economic policies. This did make for some very quick gains for a select few, but the end result was a collapse of the system.

Obama's policy has been one that must focus more on damage control than anything else. For the most part it has been successful in that regard, but as it was previously noted it may be years before any post-recovery improvements are seen.
40DWM

Jun 3 @ 3:45PM  
Reagan and Clinton, by and large, are now left to the History books.
Although the possible (at least) 3 recent felonies in the Sustak scandal won't leave a mark on 'ole Slick.

If Bush would have been in the Oval Office, and over 45 days of Oil gushing
into the environment, the Liberals would have hung him in effigy at the feet of the
Lincoln Memorial. As Obama can do no wrong, nobody cares what goes on in his watch. 'cause it's always the fault of HIS predecessor.

I do remember that with J. Carter, 20% interest was not unusual for a home loan. Thanks to Acorn, Blarney Frank, and Bill Clinton, ANYONE can get less
than 6%.....even to work underage-imported-sexslaves.
sugarnspice005

Jun 3 @ 3:59PM  
I do remember that with J. Carter, 20% interest was not unusual for a home loan. Thanks to Acorn, Blarney Frank, and Bill Clinton, ANYONE can get less
than 6%.....even to work underage-imported-sexslaves

It took me at least 8 years to rebuild my credit after being careless with credit cards in order to get my mortgage at 6.5%. It wasn't "just handed" to me. When I had first looked into mortgages before that...those who were going to take a chance were offering me interest rates ranging from 9.5% to 11.5%.

Wordsofwit

Jun 3 @ 4:32PM  
it's always the fault of HIS predecessor

Considering the state of the nation at the time of the last presidential election, I would have to say quote above is true.
RJ53

Jun 3 @ 6:29PM  
This is just my opinion on the economy.

It took us 8 years to get into the mess we were in. It is not going to be fixed overnight when you have the party that lost the election blocking every effort to fix things. And they do not come up with a plan of their own after blocking the other party's efforts.. The way I see it either you put up or shut up and get out of the way. I look at what Obama inherited when he came into office, two wars and one of the worst economies since the great depression. Did people really think someone was going to wave a magic wand and make it disappear? I think the fact the countty has not gone down like the Titanic says something. People love to point fingers at the people they did not vote for, but nothing is going to get done as long as that is the attitude. JM not so humble O.
sugarnspice005

Jun 3 @ 6:50PM  
Thanks for the input everyone.
RevDocLove

Jun 4 @ 8:41AM  
AMEN & HALLELUJAH
To Rhonda's answer
It doesn't take much thought, just facts, to figure that out

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What do Presidents Reagan and Clinton have in common?