The Clinton Boom Years
September 10, 2012 Leave a comment
Some nice thoughts below on the Clinton boom years. This definitely needs to be considered in light of Bill Clinton’s speech at the DNC.
The first flaw, described here and here, is that President Clinton raised taxes and the economy boomed. The flaw in the narrative is it ignores the passage of time—four years, to be exact. The timeline matters. Clinton raised taxes in 1993 just as the economy was set to take off from a recession, and instead 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. Four years may seem like a detail, but details like this matter.
Rest of the article is available from the Heritage Foundation.