When do you think the economy will bounce back to Clinton-era levels?

[Politics_Guy25]

Times were good when we had President Clinton in office. That's for sure. What did he create? Something like 20,000,000 new jobs. Growth rates of 6% annually right? Stock market at 10,000-11,000. Surpluses of what a trillion? Bush and his cronies made sure to get rid of that surplus the first year. Remember the media frenzy in 1999 when we hit 10,000 for the first time. Massive news! Then Shrub got elected. First thing he did was to be sure that he didn't catch a terrorist plot that killed thousands of Americans even though the memo was right on his desk. Then, he invaded Iraq over non-existent WMD's and with no exit plan resulting in 4,500 young Americans dead and countless Iraqi civilians not to mention bankrupting our treasury for his adventure, then he and his minions in congress deregulated the entire financial industry and we fell into the worst financial crisis ever.

Great just great. Unemployment report out on Friday dudes and dudettes. 600,000 jobs lost last week. Wouldn't be surprised to see 10.1-10.2% unemployment. Home sales down in May 0.6%. Warren Buffet warning that the economy is "in shambles and will be beyond next year" even.

I'm so tired of this. Too many lives are being ruined. When do you think that we will see the kind of prosperity that 42 brought us again? What does President Obama have to do to bring us back to that level do you think? Are more major initiatives required?

Bush and Cheney should be in jail. The damage they inflicted on the world is worse than any administration in world history other than for Hitler/Stalin.

[Syrinx]

1. probably never

The Clinton-era prosperity was an illusion, based on Goldman-Sachs accounting tricks.

[BlooInBloo]

2. I'm not looking forward to another bubble.

[paulsby]

14. we will always have bubbles and busts

it's a good thing.

and those who are prudent and willing to be contrarian, can profit from them.

it's part of the cycles of capitalism.

[Turbineguy]

3. Those of us

yet to collect social security may live to see it. Maybe. Since World War III is a bad idea, figure a generation or two. If the repubs get back in, longer.

[lamp_shade]

4. Never.

[Downtown Hound]

5. Hopefully never

We don't need an economy based on gross wage inequality and cheap, outsourced slave labor. The Clinton boom was great for a small majority of people. Most however, got left out.

[marmar]

6. It's not.....and it shouldn't.

An economy based on constantly increasing consumption fueled by credit and other imaginary wealth isn't sustainable, and the crash is hard.

[yourout]

9. AMEN brother.

[Spider Jerusalem]

7. Never

Fun fact: REAL unemployment is more like 15% and maybe even 20%. Back around December I saw figures that the percentage of men of prime working age (18-54) not in work was 15-16%.

And things weren't all that good in the Clinton years, realistically. The Clinton-era continuation of deregulation of the financial industry, telecoms, and so on, and increased offshoring of jobs from the textile, electronic, automotive, and other industries haven't been such a good thing. (Number of jobs lost in the textile industry in the South between 1996 and about 2003? Over three million.) What were these new jobs? What were the old jobs they were replacing?

And, considering the recent collapse of the stock market and of the financial industry, how was Dow 11-12K 10 years ago such a god thing? Not sustainable, not real growth.

[timeforpeace]

8. It's time to lower expectations, not raise hopes.

[Moondog]

10. At least a generation.

[tabasco]

11. AWOL Bush and the profiteers fucked it up beyond recognition.

If repukes stay out of power, I say 10-12 years.

[spanone]

12. tomorrow morning at 9:13 am....est

[OHdem10]

13. Never--we are going through Global Crisis Change. When the Recovery

occurs, we will be a very different country.