Clinton's Legacy in Peril

"It's the Economy, Stupid" is the political slogan that Bill Clinton used in 1992 to bash the elder George Bush. He won the election and ever since considers himself the de-facto political authority on economics. He used this authority in 2012 at the Dem Convention, and Hillary (or any other Democrat) will try running on this theme in 2016. The fact that Clinton left for Bush the Younger a tech-busted recession notwithstanding, consider this shocking stat: The Economy/GDP over the last twelve months grew by $243 billion dollars. How bad/good is it? Well, for all of 1992 when the economy was trillions of dollars smaller and the country had 70 million people fewer people, the economy grew by $348 billion in inflation-adjusted dollars. (Go here and click on 'Current-dollar and "real" GDP' under "Gross Domestic Product") But Clinton cried in 1992 that the economy stinks. Yup, that's the same Clinton who told us at the Dem convention in 2012 that the economy is finally doing fine......(Read Full Post)