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Article #647

President and the economy

#647
From: Tracy Monaghan
Date: Mon, 12 Oct 1992 22:40
31 lines
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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.



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Tracy Monaghan: arithmetic-mean, melanin-deficient, gender-advantaged
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Message-ID: <1992Oct12.224049.2439@u.washington.edu>
Path: arc1-ca.pugleaf.net!sparky!uunet!ogicse!news.u.washington.edu!monaghan
References: <1992Oct12.223009.1629@u.washington.edu>

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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>
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