HOLY CRAP! Obama is simply mirroring the 1993 Clinton Economic plan

[Soul Crusher]

Under President Clinton's leadership, almost 6 million new jobs were created in the first two years of his Administration -- an average of 250,000 new jobs every month.

In 1994, the economy had the lowest combination of unemployment and inflation in 25 years.

As part of the 1993 Economic Plan, President Clinton cut taxes on 15 million low-income families and made tax cuts available to 90 percent of small businesses, while raising taxes on just 1.2 percent of the wealthiest taxpayers.

President Clinton signed into law the largest deficit reduction plan in history, resulting in over $600 billion in deficit reduction. The deficit is going down for 3 years in a row for the first time since Harry Truman was president.


April 22, 1993. Senate Republicans stoppeded President Clinton's economic stimulus plan.

He brought back a new version in the summer which did pass, and lo and behold, it was fuckin grand for the economy.  Unemployment when Clinton took office was 7%.  He dropped it to 5.6%

What is it today? 

[Soul Crusher]

In his first year in Office, this is what Bill Clinton did.
Back then it was only a $30 billion stimulus package, but when you factor in the weakening of the dollar and the gravity of a ten trillion dollar debt, maybe Obama's $800 billion plan isn't that much different.  Let's see what Clinton did, and how it affected us...

CREATING ECONOMIC OPPORTUNITY AND SECURITY FOR ALL AMERICANS
Signed the Economic Package, August 10, 1993.
The economy created 7.7 million new jobs in the first 34 months of this Administration.
Passed the largest deficit-cutting plan in history -- saving more than $1 trillion over seven years.
On track for three consecutive years of deficit reduction -- for the first time since Harry Truman.
Cut federal spending by $255 billion over 5 years.
Made new tax cuts available to over 90% of small businesses.
Unemployment has fallen from 7% when President Clinton took office to its current rate of 5.6%
Lowest combined rate of unemployment and inflation since 1968.
1994 real GDP growth was the highest in a decade.
Proposed a plan to balance the budget while protecting critical investments in education.

PROMOTING A FUTURE OF OPPORTUNITY
Increased Head Start funding by almost $760 million.
Passed the Student Loan Reform Act, August 10, 1993.
Implemented the National Service Act, September 21, 1993.
Signed the Goals 2000: Educate America Act, March 31, 1994.
Enacted the School-to-Work Opportunities Act on May 4, 1994.
Signed the Elementary and Secondary Education Act Reauthorization

Steven Roach: "I'm Scared For My Children"
Courtney Comstock | Nov. 10, 2010, 11:58 AM | 421 |  2
Stephen Roach, the non-executive Chairman of Morgan Stanley Asia, is one of the many Wall Streeters with a very pessimistic view of the future.

Roach told CNBC yesterday:

The sad state of U.S. economic policy [keeps me awake at night]. With issues ranging from low interest rates, trillion-dollar stimulus, unemployment and under-employment, the U.S. economy is mis-managed in a way I have never seen before.

I am worried at the state of things and worried for my children.

Join the club.

Tags: Wall Street, Predictions, Stephen Roach | Get Alerts for these topics »

Read more: http://www.businessinsider.com/steven-roach-im-scared-for-my-children-2010-11#ixzz14tvjzPaQ

[Soul Crusher]

240 - do you think we will ever get a speech from Obama like this? 

[Soul Crusher]

they will say we succeeded IN SPITE of obama's plan.  Watch.

Are we succeeding yet? 

[Soul Crusher]

BUMP 

[Soul Crusher]

BUMP

[Shockwave]

Poor 240, more of him exposing himself for not knowing WTF he was talking about.

My favorite was him after the election talking to the forum about how "the internet peoplez" changed the voting world and were directly responsible for getting Obama elected somehow.

[Soul Crusher]

lol.  I bumped this in 2010 and 180 NEVER. Responded. 

[MM2K]

Ouch.

By the way, the next time a Dem or a liberal brags about how great the 90s were, tell them that you agree and them ask them how they reconcile the fact that Clinton was the most conservative Democrat President since JFK, and that Republicans controlled pretty much all other levels of government.