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View Diary: Voter's top priority: jobs. GOP's agenda: Everything but. (62 comments)

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  •  that's actually true. (0+ / 0-)

    Clinton's budget surplus hurt the economy and helped create the crisis in 2001.  Having a budget surplus is bad for the economy.  Having a reasonable deficit is good.

    In the same way, Reagan's deficits were good for the economy.  Both FDR and Reagan ran for president against the deficits their predecessors created, then once elected, created much bigger deficits, and brought back growth.  Of course, the people who benefited from FDR's stimulus and Reagan's were very different.

    On the other hand, Reagan's early attempts at monetary policy were disastrous across the world, but eventually resulted in a strong dollar, which brought down oil prices and created conditions in which oil importers like us could have some economic success.  It just crippled oil exporters like Iraq and Mexico.

    "Intolerance is something which belongs to the religions we have rejected." - J.J. Rousseau

    by James Allen on Thu Jan 20, 2011 at 02:44:07 PM PST

    [ Parent ]

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