General Discussion
In reply to the discussion: Can you spell tone deaf? H-I-L-L-A-R-Y. Hillary Clinton: We Were 'Dead Broke' Upon Leaving WH [View all]truedelphi
(32,324 posts)the middle class, or at least the part of the middle class that was tied into the tech bubble, that part of the economy all went smoothly.
And meanwhile, Clinton also made sure that the government was operating at surplus levels, rather than debit levels, as we have done ever since Sept 11 2001.
However, the secret coding that was deep inside the Banking Modernization and Reform Act, and that Clinton signed onto, enabing it to become the law of the land, that was a ticking time bomb. One that went off in Autumn of 2008.
For inside that Act was a provision that gutted the Glass Steagal Act.
And that allowed the economic bubble that started right around that time, and that took Trillions of dollars out of the worth of most Americans once it collapsed..
Then it was decided by both Republican and Democratic leadership to bailout the fuckers that had done this. So another 15 to 16 trillions of dollars of indebtedness ahs been incurred, which will be offset in part by the looting of the 2.1+ Trillion dollar surplus over at Social Security.