Aside from the moral issues, what were Clinton's failings?

[Archaea]

First, if you pick a select group of economists, you may get them to agree that income tax rates has no affect upon growth, but intellectually I can't agree.

Let's look at Scandanavia, France and Germany which have high levels of costs, including income taxes, and I argue those rates do impact growth. The reason I argue that is that growth is often stimulated when they are reduced. It's plain if more money is taken out of commerce there will be less to invest.

Clinton's "accomplishments" are not something I've seen documented, but how much was Clinton and how much was due to a Republican controlled Congress is another question.

The Fed's members are nominated by the President, thus insofar as he selects the members and the chair he impacts fiscal policy. There are other controls as well. Let's not be that simplistic.

I do agree government can stimulate some aspects of research and development, but generally disagree with Chino's other statements.

[ChinoCoug]

3 major interpretations of growth years under Clinton on CB, 1) the success is owed to Bush Sr, 2) [most absurd] Clinton ran it down to the ground to get results, and 3) success is owed to GOP Congress.

Let's do look at Scandinavia; they grew just as fast as everyone else in W. Europe. From what I understand, the diversion of resources away from investment doesn't occur until the govt spends the money. It's the size of govt that matters. With taxes resources don't move. And again, Clinton held spending under control. The taxes were used for deficit reduction.

When the govt runs a deficit, it borrows lots of money and kicks up the interest rate; then the interest rate becomes a tax anyway.

The Fed was designed to insulate the moneyprinters from political pressures. The president appoints the chair only once every 14 years. Reagan appointed Greenspan.

Bush Sr's adm said that "it doesn't matter whether you make computer chips or potato chips" which ticked off traditionally-Republican Silicon Valley, and allowed Clinton to wrest it from the GOP.