What Did Clinton Have to do With Anything?
Not too long ago I was having a heated discussion about the relative merits of the Clinton administration with my Republican father-in-law... which is probably not a good idea to begin with. After all, we were staying at his house and eating his food so I should not push his buttons. But instead of being a good guest, right there in his den, sitting in his chair watching his T.V., I begged to differ with his assessment that President Clinton has had nothing to do with the robust state of our economy.
In fact, that the good health of the U.S. economy has nothing to do with Bill Clinton is a Republican mantra- they repeat it over and over again on talk shows and in newspaper columns and family rooms all over America. If anybody is responsible for the historically potent U.S. economy they say it is Alan Greenspan... a known Republican who was appointed by an even more known republican, Ronald Reagan... thus everybody who knows anything about economics knows it is the Republicans who are responsible for the good health of the U.S. economy.
Which of course begs the question, if the economy crashes tomorrow... are the republicans responsible for that too? According to my father-in-law if the economy crashes tomorrow after 6 years of trying, Bill Clinton finally will have had an impact on the economy?
But to me it doesn't make sense that someone could be President for 6 years, during which time the economy booms and that President has had nothing to do with the good things that have happened... but then again there are sports fans who think a coach stinks even though his teams keep winning. Those disgruntled fans will claim it's just that that coach has been lucky to pick good players and assistant coaches. Democrats, of course, call that kind of luck... good coaching. Except, maybe when the head coach is a Republican.
If he did nothing else, one of the best things Head Coach Bill Clinton did for U.S. enterprise was to fool around under the bleachers with Monica Lewinsky because, while Clinton was testifying and apologizing over that, Economic Coordinator, Assistant Coach Alan Greenspan was out there on the field running the team with Bronco Bob Rubin.
Plus, the Clinton off-field activities created the new, multi-million dollar Who's-doin'-Who-Industry. How wonderfully convenient for Assistant Coach Greenspan the media and the republicans were consumed with the Clinton scandals and instead of Coach Greenspan having to do those morning chat shows he got to sleep in late on Sunday ?
So, as the Dow passes the 10,000 mark I hope my father-in-law will give Coach Clinton a pat on the butt because he's the one who brung Rubin and Greenspan and the rest of us to the big return on your invest dollar dance. And if you don't agree with that, I guess your daughter and I will stay in a hotel next Christmas.