The Set-Up

Barry Rene DeCicco bdecicco at umich.edu
Mon Dec 11 06:37:55 PST 2000


paula:
>>
Again at work I'm over-hearing our affluent diners visciously denouncing Gore for their market woes and I really think that in their minds the money they made in the last 8 years was a bi-product of the Bush/Raygun years. And no matter how many times I mention the Goldman Sachs trader who ran Treasury for Clinton, they firmly believe Clinton/Gore/Hillary, seemingly one entity in their world-view, is a socialist. Amazing.

smooches from the Rube Gallery
>>

Never expect your enemies to be grateful for anything that you do for them. You might have to work out a compromise on various matters (something Clinton has eagerly done). However, your enemies remain your enemies, and if your arrangement can be renegotiated (with a knife in the back, for example), it will be renegotiated.

And yes, these people do believe that everything good that happened in the 1990's was because of Reagan, and everthing bad, because of Clinton.

Even though the Republicans were loudly disclaiming any credit for the economy in the early 1990's, and predicting nothing but destruction from Clinton, they have had zero shame in taking credit as soon as things went up.

This leads to a major problem for left/liberal politics - the fact is that Republican economics is fraudulent, but successfully so. Supply-siders claimed that deep tax cuts wouldn't lead to deep deficits, because of the magic of supply-side econmics. Afterwards, they said that the deficits happened because spending wasn't cut in line with the tax cuts. Which is precisely what orthodox economics would say, and precisely the opposite of the central claim of supply-side economics.

Barry



More information about the lbo-talk mailing list