Reply #15: The Key To The Clinton Boom

[Yavin4]

was when he attacked the deficit, even though he wanted big government spending programs. With that brilliant move in the summer of 1993 on the budget, he showed the world that the U.S. was serious about paying off debt.

The result? Four years later in 1997, we had a booming economy. Why? It was the intersection between the discovery of new technologies, the internet and telecom, coupled with huge sums of money that had been freed up because the government WASN'T BORROWING $250 billion per year. That $250 billion went to these startups which hired people, etc. etc.

Now president monkey face is doing just the opposite. With his huge tax cuts for the rich, he has created a $500 billion per year investment opportunity, government debt, and when his tax cuts take full effect, the deficit will rise to a $1 trillion per year, which will be about 15% of our entire national debt right now.

Folks, it simple math. If you know that the government needs $1 trillion each year just to operate and you know that the government is the most reliable debtor on the planet, then you're going to charge a really high interest rate to everyone else.