RE: Debate whoppers

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From: Jim Whitehead (
Date: Fri Oct 06 2000 - 13:06:18 PDT

> And Clinton/Gore's economic track-record is spotty at best.

Wow, after one of the most incredible economic booms of the 20th century,
I'm amazed you can say this with a straight face.

Although, to be honest, I don't think either the executive, or the
legislative branch can take too much credit for the boom, except that they
had the sense not to screw it up. The Fiduciary branch (i.e., the Fed)
deserves much of the credit. But, of course, since the Fed is a
non-partisan body, giving it credit doesn't provide much ammunition for

> In the end of
> this tenure, the political marketplace gave the Republicans control of
> Congress for the first time in 40 years, and with it, venture capital grew
> at an astonishing rate.

Oh, please. Venture capital growth had everything to do with the unique
opportunities provided by the Internet, and nothing to do with Congress.

What makes you think that the executive or the legislative branch have much
control over the economy at all? Their control levers are rough and small,
at best. Even the Fed has very coarse mechanisms for tinkering with the
economy, and affecting the money supply is much more direct than anything
Congress or the President has available.

- Jim

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