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Article #647President and the economy
From: Tracy Monaghan
Date: Mon, 12 Oct 1992 22:40
Date: Mon, 12 Oct 1992 22:40
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As much as I enjoy watching Bush squirm during this recession, the fact is there is little a president can do about the economy (and even less with the massive deficits. The Federal Reserve control interests rates, and indirectly inflation.) It was Bush's dumb luck that the recession happened during an election year. Reagan's luck was to have a recesssion and get it over with early in his first term, then by the time of his election, the economy was going strong again (of course, running up those huge deficits help to spur the economy along. Basic Keynesian theory, no supply-side here.) Bushman then compounded the problem by saying things were 1) improving, and then 2) not as bad as all that. He could have softened the blow by spending some of the federal highway funds he and Reagan have been hording, and keep the economy limping along until after the election. But, as someone else mentioned, bushman can't plan in advance but only react to a crisis. So not because of the economy, but because of their social agenda, I wouldn't support any puppet of the religious right. All of the above is, of course, my ill-informed opinion. ------------------------------------------------------------------------------ Tracy Monaghan: arithmetic-mean, melanin-deficient, gender-advantaged ------------------------------------------------------------------------------
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Path: arc1-ca.pugleaf.net!sparky!uunet!ogicse!news.u.washington.edu!monaghan From: monaghan@cac.washington.edu (Tracy Monaghan ) Newsgroups: pnw.general Subject: President and the economy Message-ID: <1992Oct12.224049.2439@u.washington.edu> Date: 12 Oct 92 22:40:49 GMT Article-I.D.: u.1992Oct12.224049.2439 References: <1992Oct12.223009.1629@u.washington.edu> Sender: news@u.washington.edu (USENET News System) Distribution: pnw Organization: UW Computing Lines: 31