Subject:
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Re: How many things need to stack up before we throw this jerk out?
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Newsgroups:
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lugnet.off-topic.debate
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Date:
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Fri, 11 Jul 2003 16:38:09 GMT
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Viewed:
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255 times
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In lugnet.off-topic.debate, Mike Petrucelli wrote:
> Well from all 3 Economics classes I have taken through high school and
> college all three teachers/professers have stated that a President and
> Congress's effect on the economy shows up about 10 years after the fact.
> Sort of a catch 22, the government gets credited or blamed for their
> predeccessors actions. By the time what they themselves have done comes to
> fruition someone else gets the credit or blame.
We have to be careful about that kind of assertion, though, because it's
after-the-fact and is succeptible to tremendous spin. Additionally (though not
conclusively) I've heard the point put forth most vehemently by conservative
pundits, who conveniently interpret the results in a way that favors Republican
administrations.
Additionally, the Reagan tax cut preceded a huge deficit that can't be readily
blamed on Carter. Should we blame Ford and Nixon instead? Also, if the economy
makes a massive recovery in 2005, is Dubya going to say "Thank Bill Clinton" or
is he going to claim success of his reward-the-rich stimulus package?
I admit that I haven't had too much formal education in economics, but I
haven't heard much to support the 10-year-delay other than wishful thinking.
That's not a refutation, of course, but I'd like more detail.
For example, why do they pick 10 years? And on what basis do they identify
the causative relationship?
Dave!
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