The saga of the Clinton presidency


To the editor:

The prospering economy of the 1990’s which Bill Clinton endlessly and shamelessly takes credit began with an upturn in the months before he took office. The budget surplus was a product of that economy and of the rising tax revenues it produced, along with the big-spending Democrats loss of the House of Representatives in 1994, which foreclosed Clinton’s chances of getting his runaway spending proposals through Congress.

Clinton raised taxes in 1993 just as the economy was taking off from a recession, job and wage growth sputtered for four years. The famous Clinton-era boom started four years after the tax hike, in 1997, and was triggered at least in part by the Republican tax cut of that year.

This tax cut was resisted by Clinton but was ultimately signed – then the spectacular growth kicked in. The 1997 tax cuts included a reduction of the capital gains rate from 28 percent to 20 percent. Business investment skyrocketed after the tax cut, and the economy grew by an annualized rate of 4.4 percent from 1997 through the end of the Clinton presidency. During Clinton’s last year in office the economy was slowing and heading for the ensuing recession.

Bill Clinton was more than a “charismatic, empathetic womanizer,” his presidency was laden with scandals and crimes which included Clinton committing felony crimes in an attempt to affect the outcome of an American court case in which he was the defendant and an American citizen was the plaintiff.

Despite the felon ex-president being Barack Obama’s lead campaigner Obama still won re-election. Obama appears to be nothing but a charismatic politician that gives speeches of hope but the consequences of the Obama presidency to America are dire. Despite more than $800 billion in “economic stimulus” spent by the federal government under Obama the 2015 third quarter Gross Domestic Product grew by an anemic 2 percent. The fourth quarter GDP grew by 0.7 percent. The labor participation rate is at 62.7 percent, the lowest in 40 years. 94 million people of working age in America are not in the labor force. The job creators are on strike and it is the result of EPA rules, Obamacare, tax hikes and other assaults on business.

Through Obama’s nuclear “deal” Iran has gained more than $100 billion to fund terrorists and acquire military nuclear capability.

Now, Bill Clinton is campaigning for his corrupt wife to win the presidency.

Tony Smith

Sidney

Editor’s note: This is the opinion of the writer. The newspaper hasn’t verified his claims.