The Political Chase

Bush throws the sink at Congress

George Bush held a press conference this morning that was staged as focusing on the economy, but it was a lame ploy to pound Democrats during the election season. The most unpopular president in history fired off criticism after criticism at Congress (viz. Democrats), and displayed anger several times.

When asked about how successful the war in Afghanistan was, Bush pounded the podium and vehemently declared, “We’re making progress.” No one asked the scornful president to define “progress.”

Without exception, according to Bush, all problems the country faces are directly attributable to Democrats Congress. And of course, everything Bush has demanded is and has always been perfect in every way, as evidenced by his 28 percent approval rating.

The presser was a veiled attempt at election season politics (viz. campaigning) but mitigating the risks of Bush associating himself with a specific GOP incumbent or candidate, although he hesitantly put a plug in for John McSame.

Bush accused Congress of blocking his proposals to deal with everything from high gas prices to tuition bills.

“It’s a tough time for our economy,” Bush said at a Rose Garden news conference. “Across our country, many Americans are understandably anxious about issues affecting their pocketbook, from gas and food prices to mortgage and tuition bills. They’re looking to their elected leaders in Congress for action.”

“Unfortunately, on many of these issues, all they’re getting is delay,” he said.

He repeatedly called for drilling in ANWR (Arctic national wildlife refuge), and to begin construction of oil refineries to help meet the global demand for oil, which would, according to Bush, reduce the overall price of oil and other energy related costs.

Bush also called on Congress to drop emission restrictions on coal plants, which at its current level, is, I believe, the single greatest source of carbon emissions in the country. If I recall correctly, emissions from coal plants are responsible for approximately 50 percent of our carbon-based pollution.

Bush slammed Congress so hard, the less informed viewer would have easily believed the only thing Democrats did was develop ways to purposefully ruin the economy, ran the major oil companies, force homes into foreclosure, thwart higher education pursuits, and logarithmically raise food prices.

President Bush then pinned the problem of rising food prices largely on Congress, saying it was considering a “massive, bloated” farm bill that would fail to eliminate subsidy payments to “multimillionaire” farmers. With the nation’s farm economy thriving, the president argued, it is time for Congress to reduce lavish farm subsidies that translate to higher taxes for average Americans.

Mr. Bush said he had also urged Congress to pass legislation that would help address problems in the housing market by modernizing the Federal Housing Administration, reforming the Fannie Mae and Freddie Mac loan agencies, and allowing state housing agencies to issue tax free bonds to refinance subprime loans.

“Yet they failed to send a single one of these proposals to my desk,” he said. “Americans should not have to wait any longer for their elected officials to help more families stay in their homes.”

Read the transcript.

Against highway tax cuts before she was for it

I repeatedly find instances of Hillary Clinton pandering some voter-catching two-bit policy, which is contradictory to policies Clinton has proposed in the past or runs afoul with her legislative record.

For example, Clinton has joined the McCain Pandering Express in a proposal to eliminate the federal highway tax during the summer months, and as usual, rapidly slams Obama for being against it.

Clinton Monday on highway taxes:

Senator Hillary Rodham Clinton lined up with Senator John McCain, the presumptive Republican nominee for president, in endorsing a plan to suspend the federal excise tax on gasoline, 18.4 cents a gallon, for the summer travel season. But Senator Barack Obama, Mrs. Clinton’s Democratic rival, spoke out firmly against the proposal, saying it would save consumers little and do nothing to curtail oil consumption and imports. . . .

Mrs. Clinton said at a rally on Monday morning in Graham, N.C., that she would introduce legislation to impose a windfall-profits tax on oil companies and use the revenue to suspend the gasoline tax temporarily.

Mr. Obama derided the McCain-Clinton idea of a federal tax holiday as a “short-term, quick-fix” proposal that would do more harm than good, and said the money, which is earmarked for the federal highway trust fund, is badly needed to maintain the nation’s roads and bridges.”

Rewind. Clinton in 2000 on highway taxes: (h/t kos).

Campaigning in the Hudson Valley, Lazio continued a two-day assault on Clinton’s support of maintaining the 18-cent federal gas tax and then used tough rhetoric to declare that "trust" and "character" were campaign issues during an evening fundraiser in Manhattan that raised more that $1 million.

Clinton, meanwhile, lashed out at Lazio’s plan to repeal 4.3 cents of the gas tax, calling it "a bad deal for New York and a potential bonanza for the oil companies."

During a visit to a shopping mall in the Buffalo suburbs, Clinton said that "the gas tax is one of the few exceptions where we actually get more money back than we send to Washington."

Moreover, consider how Paul Krugman characterized McCain’s tax policies, which Clinton also seeks to implement.

[A] look at what Mr. McCain says about taxes shows the same combination of irresponsibility and double-talk that, back in 2000, foreshadowed the character of the Bush administration.

Krugman continues:

If truth be told, the McCain tax plan doesn’t seem to embody any coherent policy agenda. Instead, it looks like a giant exercise in pandering — an attempt to mollify the G.O.P.’s right wing, and never mind if it makes any sense.

The impression that Mr. McCain’s tax talk is all about pandering is reinforced by his proposal for a summer gas tax holiday — a measure that would, in fact, do little to help consumers, although it would boost oil industry profits.

More and more, Mr. McCain sounds like a man who will say anything to become president.

There you have it. Straight from one of Hillary’s most ardent supporters.

Issues polling vs. election polling

It would be hard to argue that John McCain’s policies differ from George Bush’s. There are a few differences, but they are by no means substantial, or at least I don’t view them as significant. Since Americans overwhelmingly disapprove of Bush’s handling of the two top issues — Iraq and the economy — and McCain is Bush III, how is McCain able to receive relatively favorable ratings in general election polling against the Democrats?

Only 28 percent of Americans approve of Bush’s handling of the economy and only 31 percent approve of his handling of the Iraq war (4/7-9/08). But in head-to-head matchups against Barack Obama and Hillary Clinton, McCain’s ratings are 45 and 46 respectively.

These are graphics from Pollster.com:

McCain vs. Obama		McCain vs. Clinton
Click image to enlarge

Obviously there are contradictions and many would like to know the answer, especially Sen. Clinton since she is arguing only she can win against McCain.

Here I go with another Chertoff-gut-reaction, but I believe the answer probably resides in the election polling and is not an indication of inaccuracy on the issues polling. I have a few thoughts on why the polling results appear to be contradictory, but nothing worth noting at the moment. However, it certainly is something I would like to have a better understanding of before the Pennsylvania primary is held on April 22.

Any ideas?

Cramer: Bear Stearns is not in trouble!!

Sage advice from CNBC’s Jim Cramer on Bear Stearns last week: “No! No! No! Bear Stearns is not in trouble.”

Uh-oh. I think Cramer was a tad off.

Transcript:

“Dear Jim: Should I be worried about Bear Stearns in terms of liquidity and get my money out of there? –Peter

Cramer says: “No! No! No! Bear Stearns is not in trouble. If anything, they’re more likely to be taken over. Don’t move your money from Bear.”

(Ed. Note: Had a bit of trouble getting this posted. Sorry for any inconveniences or inaccuracies in the interim.)

Market dips on open

The stock market reacted to overnight trading by opening with a drop of 180 - 190 points (DJIA), but has recalibrated as of now with the DJIA down 57.89 (-0.48%), the NASDAQ down 31.70 (-1.43%), and the S&P down 15.25 (-1.18%).

Although the economy keeps dropping substantially, President Bush said today his administration is “on top of the situation.”

Everybody should just go shopping, take a vacation, maybe buy a second home while you’re at the resort.

Poll: Economy tops Iraq

As I mentioned yesterday, and recent data suggests, presidential candidates need to address the economy and voters need to listen carefully to what they say.

First, let me clarify one point to avoid incorrect assumptions. I do not intend to suggest that an increase in economic concerns is related to or indicative of “success” in Iraq, with possibly minor exceptions. More about that following the table.

In just two months the economy increased by 13 points, making it the top issue in this poll. And Iraq decreased 12 points, making it the second most important issue.  

On a side note, what has been at the top of Dick Cheney and George Bush’s list for months? Iran. Notice how important Iran is and has been.

Source: Washington Post/ABC News poll taken 12/6 - 12/9.  Question asked: Thinking ahead to the November 2008 presidential election, what is the single most important issue in your choice for president? Margin of Error:   +/- 3

Note: I do not intend to suggest that an increase in economic concerns is related to or indicative of “success” in Iraq. It simply means there are more problems related to the economy, and therefore people have to choose which is more important to them based on their respective circumstances and beliefs. Someone that was just thrown out of their house may be inclined to put the economy at the top of the list. Jane and Joe’s eviction have nothing do with success, or the absence of it, in Iraq.  Where economic concerns and Iraq may have an influence over either category are the costs related to the war.

Fed Cuts Interest Again

Issues related to the economy get hotter by the day and when it comes to discussing it politically, I can’t think of a more boring subject. But if it continues to drop — and it can quickly — by Labor Day next year, bloggers will be economic experts as we are foreign policy experts today. There’s a good laugh in there if you’ll just find it.

Fed Cuts Key Interest Rate

The Federal Reserve cut a key interest rate today for the third time this year, continuing its campaign to prevent the worsening crisis in the housing and financial markets from causing a recession.

The central bank’s policymaking committee cut the federal funds rate, at which banks make overnight loans to each other, by a quarter-percentage point to 4.25 percent. The lower rate is likely to trickle through to interest rates on credit cards, business loans and other forms of borrowing, stimulating the economy.

Presidential candidates need to start speaking up about what their economic wizards are telling them and what their priorities are: the mortgage factor will eventually have a domino effect if not contained.

I imagine if you talked with senior executives at Lowe’s and Home Depot, they would probably describe their business environment as well into a serious economic downturn, or worse. The middle-management bonuses will likely be nothing more than wishes this year.

“Incoming information suggests that economic growth is slowing, reflecting the intensification of the housing correction and some softening in business and consumer spending,” the Federal Open Market Committee said in a statement accompanying the announcement.

The committee used language that kept its options open for the next meeting: “The Committee will continue to assess the effects of financial and other developments on financial prospects and will act as needed to foster price stability and sustainable economic growth.”

When the Fed starts parsing words it’s time to pay close attention to what they are saying and what they are not saying.

I continue to hear “no end in sight.” The castle is what the American dream is built upon…well since WW II that’s been the basic structure. For the foreseeable future, there is no stopping the foreclosure dragons from getting across the moat. Just let the pace of foreclosures continue and there will be an incredible crying out of pain.

If per chance, a deserving soul falls within the guidelines of Bush’s plan today, I wouldn’t count on seeing any funds for a long time, if at all. Eligible today, but maybe not by the time they get the logistical and other similar aspects squared away.

How much did your net worth drop today?

The stock market tumbles again. If this continues, 2008 is going to be more "It’s the economy, stupid" than getting out of Iraq or immigration.

The Standard & Poor’s 500-stock index fell 2.3 percent and the Dow Jones industrial average tumbled 237.44 points, or 1.8 percent, to 12,743.44. Both indexes are now down more than 10 percent from their record close on Oct. 9, the generally accepted definition of a market correction.

The Nasdaq composite index was off 2.1 percent, putting it more than 11 percent below its peak on Oct. 31.

Blame this on Bill Clinton too

Maybe Dick Cheney will publish another op-ed in the Wall Street Journal and blame this on Bill Clinton too.

The dollar took another fall on currency markets Thursday, reaching one-to-one parity against the Canadian dollar for the first time in 30 years and plumbing a new low against the 13-nation European currency.

The dramatic half-point cut in U.S. interest rates announced this week, while aimed at shoring up U.S. credit markets, also had the effect of further weakening the dollar versus other currencies by reducing the cash yield on dollars. A lower dollar can make travel more costly for U.S. residents and can also pose the risk of making imported goods more expensive over time.

Dollar at 30-Year Low Vs. Canada Dollar - washingtonpost.com

TPC Roundup - White House v. Congress

HEADLINES

• Democrats Threaten to Delay Mukasey Confirmation
• Congress Continues Negotiation on Children’s Health Bill
• Clinton Releases Health Care Plan
• Iraq Withdraws Blackwater USA License
• Muslim Charity Trial Ends
• National Foreclosures Up 36%
• Musharraf Military Command in Limbo

TPC MOST POULAR

(updated 11:41 AM ET)

Telegraph: Bush-Cheney Planning War with Iran
Will Wes Clark be Hillary’s VP?
Bush Selects Mukasey for Attorney General
Judge Mukasey and the rule of law

WASHINGTON

• “Two Senate Democrats warned Monday that the Judiciary Committee would delay confirmation of President Bush’s choice for attorney general unless the White House turned over documents that the panel was seeking for several investigations,” the New York Times reports. “Mr. Bush announced the selection of Michael B. Mukasey, a retired federal judge from New York who has presided over several high-profile terrorism trials, during a morning Rose Garden ceremony.”
• “The White House on Monday rejected demands by Senate Judiciary Chairman Patrick Leahy (D-Vt.) that the administration release thousands of documents related to the U.S. attorneys scandal and other Justice Department controversies before hearings begin on” Bush’s nomination of Mukasey, Roll Call  (sub. req.) reports. “A showdown between Leahy and President Bush over largely procedural matters could turn what is widely seen as a relatively noncontroversial nomination into a political lightning rod for both parties.”
• “The White House in recent days told nearly a dozen Cabinet secretaries to send letters to Capitol Hill rejecting Democrats’ proposed new funds for their agencies, escalating a confrontation between lawmakers and President Bush over domestic spending priorities,” the Washington Post reports. “The Democratic Congress is considering 2008 spending bills that increase funding for politically popular programs including health care for veterans, education, medical research and infrastructure improvements.”
• “The top U.S. intelligence official is asking Congress for even more changes to a law that he says limited the government’s ability to eavesdrop, not just on terrorists but also on more traditional potential adversaries,” AP reports. “Mike McConnell, the director of national intelligence, says China and Russia are aggressively spying on sensitive U.S. facilities, intelligence systems and development projects, and their efforts are approaching Cold War levels.”
• “The White House threatened on Monday to veto a bill that would add 15 years to a post-Sept. 11 government insurance program that supporters say is critical for major projects like the new World Trade Center,” the New York Times reports. “The legislation, known as the Terrorism Risk Insurance Act, was originally passed by Congress after the 2001 attacks. It is due to expire this year, and the House had planned to vote this week on a 15-year extension.”

CONGRESS

• Sen. Hillary Rodham Clinton on Monday “unveiled a proposal to provide health insurance to all Americans, placing herself at the center of an issue that provided perhaps the greatest setback of her political career,” the Washington Post reports. “In a speech in Des Moines, the Democratic front-runner said she would expand insurance to the 47 million people who do not already have coverage and would attempt to reduce costs for others without spawning a massive new bureaucracy.”
• “Key lawmakers in the House and Senate negotiated into the night” on Monday “on a deal that would expand the State Children’s Health Insurance Program by $35 billion over the next five years,” the Washington Post reports. “That would set up a clash with President Bush, who has promised to veto such a plan.”
• “Three senators who are considered potential swing votes on war policy said Monday that a weekend visit to Iraq left them discouraged about prospects for political reconciliation there and convinced that the United States must quickly shift more responsibility for security to the Iraqi Army,” the New York Times reports. “‘We must take decisive action to force the Iraqi government and the Iraqi people to secure the peace for Iraq,’ said Senator Ken Salazar, Democrat of Colorado, as the Senate opened a pivotal debate on the war.”
• “Sens. Ted Stevens (R-Alaska), Daniel Inouye (D-Hawaii) and Robert Byrd (D-W.Va.) are among the biggest winners in the 2008 Appropriations defense bill, according to data gathered by The Hill and the watchdog group Taxpayers for Common Sense (TCS),” The Hill reports. “Senate appropriators disclosed about 936 earmarks worth a combined $5.1 billion in the 2008 defense-spending bill, with top committee members in both parties securing the highest dollar amounts.”

IRAQ

• “At least 12 people were killed and 37 wounded today after Baghdad was hit by two parked car bombs and two roadside bombs, police said,” the Guardian reports. “A car bomb blew up in the centre of the Iraqi capital at 9.30am in a car park near the health ministry and the so-called Medical City complex of buildings, which includes several hospitals and a forensic institute.”
• “Blackwater USA, an American contractor that provides security to some of the top American officials in Iraq, has been banned from working in the country by the Iraqi government after a shooting that left eight Iraqis dead and involved an American diplomatic convoy,” the New York Times reports. “A spokesman for the Ministry of Interior, Brig. Gen. Abdul Karim Khalaf, said Monday that authorities had canceled the company’s license and that the government would prosecute the participants.”
• “Despite efforts by U.S. forces to recruit and train women for jobs in the Iraqi security forces, just over 1,000 have been trained, many have quit and those who remain say they are struggling for acceptance,” the LA Times reports. “We’re in our posts because the Americans are here,” the army commander said. “Once they leave, we will all be out.”

NATION

• “As the government’s signature terrorism-financing trial moved toward a close here Monday, federal prosecutors reaffirmed their charge that the largest Muslim charity in the United States was not simply trying to help poor Palestinians but was in fact an arm of the radical Islamic group Hamas,” the New York Times reports. “The charity, the Holy Land Foundation for Relief and Development, and five of its officers have been on trial here since July 16, charged with conspiracy, money laundering and providing financial support to a foreign terrorist organization.”
• “National foreclosure filings in August were up 36 percent from July and 115 percent from August 2006, according to a market forecast out today,” the Boston Globe reports. “Nevada, California, and Florida posted the top state foreclosure rates in August, and Massachusetts was ranked 12th, said RealtyTrac, which defines foreclosure filings as default notices, auction sale notices, and bank repossessions.”

WORLD

• “In a controversial step, election officials Monday announced a rule change under which President Pervez Musharraf would be allowed to stand for reelection while still serving as head of Pakistan’s military,” the LA Times reports. “At the same time, though, the Supreme Court began hearing legal challenges to Musharraf’s plan to remain army chief as he seeks reelection by lawmakers as head of state early next month.”
• “France’s foreign minister, Bernard Kouchner, sought Monday to tone down remarks he made in a radio and television interview the day before that the world had to prepare for possible war against Iran,” the New York Times reports. “Attacked verbally by Iran and quietly criticized within his own government, Mr. Kouchner shifted the focus away from the threat of war and back to a call for hard negotiations as the way to force Iran to abandon key nuclear activities.”
• “Every effort should be made to stop Iran from obtaining nuclear weapons, but failing that, the world could live with a nuclear-armed regime in Tehran, a recently retired commander of U.S. forces in the Middle East said Monday,” AP reports. “John Abizaid, the retired Army general who headed Central Command for nearly four years, said he was confident that if Iran gained nuclear arms, the United States could deter it from using them.”
• “The Sept. 6 attack by Israeli warplanes inside Syria struck what Israeli intelligence believes was a nuclear-related facility that North Korea was helping to equip, according to current and former American and Israeli officials,” the New York Times reports. “Details about the Israeli assessment emerged as China abruptly canceled planned diplomatic talks in Beijing that were to set a schedule to disband nuclear facilities in North Korea.”

Bush failures not limited to Iraq

Remember how Bill Clinton was elected with, “it’s the economy, stupid.” It’s time to remember Clinton’s campaign slogan. The catastrophe in Iraq has been at the forefront for years, clouding what historically is the lead of the news cycles and normally the most important measure of a president’s success - the economy. Our first MBA president fails not only in Iraq, but with the economy as well. The Commerce Department reported today that U.S. economic growth is the worst in over four years. But like Iraq, Bush says it ain’t so - the economy is strong.

The economy grew at less than half the rate first estimated in the first quarter, the Commerce Department said today in its revision of the nation’s gross domestic product.

Before today’s numbers were released, it was clear the economy was downshifting from the rapid 5.6 percent expansion of the first quarter last year. But the new data reinforced how significant the slowdown has been.

Growth advanced just 0.6 percent, compared with an initial estimate of 1.3 percent. It was the slowest rate recorded since the fourth quarter of 2002.

The chief reasons for the revisions were adjustments to the estimates of imports and business inventories. Imports, which subtract from the gross domestic product, were stronger than the government first thought. At the same time, businesses cut production and accumulated smaller inventory stockpiles.

In February, Eddie Lazear, Chairman of the Council of Economic Advisers on Bush’s 2007 Economic Report said,

Today we roll out the Economic Report of the President for 2007. My job is an easy one this year because the economy is strong…Our economy is also becoming more diversified. It’s now being powered in part by stronger exports and investment in business structures, in addition to continued strong consumption. On the whole, we have a balanced, robust economy, and all the signs are good.

Lazear must have worked with Doug Feith.

I believe Bush’s last speech on the economy was in January 2007, which is a good indicator of his focus on the economy - about like it has been on Osama bin Laden. In January Bush said,

It’s a strong economy. And the fundamental question is, what are we going to do to keep it strong? It’s one thing to say today’s economy is strong — I say it because inflation is down, interest rates are down, wages are on the increase, unemployment rate nationally is low, people are working and putting more money in their pocket.

WMDs and a sustained robust economy - the delusions of our MBA president.

Technorati tags: economy

GAO Chief Warns Economic Disaster Looms

David M. Walker, the head of the General Accounting Office (GAO), views the state of the economy considerably different than the President and the GOP allege.

The accountant-in-chief’s professional opinion is that the American public needs to tell Washington it’s time to steer the nation off the path to financial ruin.

What [the politicians] don’t talk about is a dirty little secret everyone in Washington knows, or at least should. The vast majority of economists and budget analysts agree: The ship of state is on a disastrous course, and will founder on the reefs of economic disaster if nothing is done to correct it.

There’s a good reason politicians don’t like to talk about the nation’s long-term fiscal prospects. The subject is short on political theatrics and long on complicated economics, scary graphs and very big numbers. It reveals serious problems and offers no easy solutions. Anybody who wanted to deal with it seriously would have to talk about raising taxes and cutting benefits, nasty nostrums that might doom any candidate who prescribed them.

The Republicans, George Bush in particular, say there are two primary reasons to vote for Republicans on November 7: the economy and national security. I won’t go into national security in this post. Moving on…simply stated, Bush and the rest of the GOP allege a booming economy and their ability to “stay the course” of a booming economy. Here we go again - more falsehoods.

Most Americans get their news from the TV. Why doesn’t this type of information make it into the broadcast news media? If it is not about sex or scandal the networks aren’t interested. Boosting viewer ratings with sex, etc. is infinitely more important than substantial news.

House Passes Tax Cuts or Joke of the Day

The House passed three tax cuts and plans on a fourth today, which will reduce revenue $94.5 billion over five years. Before going into this further, I want to highlight the wisdom of one Representative.

“Our economic policies have done the trick,” said Rep. Deborah Pryce (R-Ohio). “We are in the middle of one of the strongest economies this country has ever seen.”

Add ice, shake this time - do not stir, and make your own jokes.

Now that we’ve firmly established the economy is red hot, on to a few details.

The groups targeted by the tax cuts approved today (414 to 4 vote) are:

• Business reconstruction in the Gulf Coast region — $7.1 billion
• US taxpayers serving in Iraq; allows combat pay to claim earned income credit — $153 million
• Taxpayers who otherwise would be hit by the alternative minimum tax (without detail and on the surface that means middle classs) — $31.2 billion

My abacus indicates that totals $38.4 billion. Nice to see the House really stretched it out for our troops (tongue firmly planted in cheek). I agree with the concept for the the items above, with the caveat that the military assistance is inadequate.

Remaining in the que for debate today is a $56 billion tax package that will extend the 2003 tax cuts (rates not elimination) on dividends and capital gains.

While conceptually the first three are appropriate, I have to ask the question again. Where is the revenue coming from that will offset these tax cuts? The fourth cut (or extension) is absolutely insane.

If you will remember, just three weeks ago, I wrote about the House voting (primarily along party lines) to reduce the budget by approximately $50 billion. That bill cut approximately 220,000 people off food stamps, allows states to impose new costs on Medicaid beneficiaries, squeeze student lenders, cut aid to state child-support enforcement programs and trim farm supports — whacking the farm supports are acceptable. Is this where the balance for the three tax cuts above are derived?

Let’s dig a little deeper.

The Senate approved a $60 billion dollar tax cut at the same time the House reduced the budget by $50 billion three weeks ago.

I want Rep. Pryce to answer the question, if the economy is so strong why are the budget cuts for the needy even brought up for consideration and what is the exact justification for the tax cuts for the wealthly? No “trickle-down economics” answers please. President Reagan proved that was a failure 20 years ago, and Bush is employing the same policy but at a more substantial rate.

Let’s spell it out in simple terms. Alan Greenspan has already warned the current deficit is dangerously high. Moreover the richest 1 percent of Americans, with an average income of almost $1.3 million in 2009, would enjoy 53 percent of the value of the tax-cut extensions in that year alone, while 78 percent would receive no benefit.

Arbusto is the word that keeps coming to my mind. Go figure.

Technorati Tags : Politics, Tax+Cuts, Taxes

Inerest Rates - Remeber the Clinton Era?

Fed Stays Its Course a 9th Time - New York Times Remember the Clinton era? Declining interests, a robust economy, and
no major international war controversy. It is long past time for this administration to put their pride and stubbornness behind them and get this country on the right track.