General Discussion
In reply to the discussion: Lest we forget what the era of Bill Clinton's Presidency was like. [View all]Jitter65
(3,089 posts)many times in many places. Lot's single moms were able to get off welfare and get good paying jobs. Blame the state and local politicians for uneven and unfair enforcement of many of the provisions and not taking the Federal help that was available. Social Security was never privatized so stop inferring that it was. Glass-Steal contributed zilch to any economic recession we had and economists on both sides agree that its repeal was minimal if any affect on it.
I know about the GDP formula and X-M is just not a simple as it looks on paper. Lots of factors enter into it, including currency manipulation and countries cheating on enforcement of trade agreements. What counts is what consumers actually feel and realize in their daily lives an during those Clinton years lots of people, including low and middle income families raised their standards of living, built wealth for themselves and their children. Many escaped the harmful affects of the 'bubble' and invested wisely or saved wisely. Others went crazy and made bad decisions and greed overtook a lot of people. Nothing lasts forever because people aren't always wise. But you cannot deny the reality of many people doing quite well under the Clinton administration...and that's what many of us remember.