1 Bill Clinton elected as a Centrist Democrat. National consensus to balance the budget.
2 Clinton goes left, 1st attempt at health care nationalization fails
3 Democrats lose the House for the first time in 40 years.
4 Republican House reins in spending.
5 1st balanced budgets since 1969 (98-01)
6 “Compassionate conservatism”
7 9-11
8 The False Prosperity of the early stage of the Fed/Fannie/Freddie Ponzi Scheme
9 Democrats take the House
10 Conventional political wisdom turns financial – Democrats will take the Presidency, House, Senate.
11 Charles Schumer, chair Democrat Senate Campaign Committee, accidentally starts a huge bank run :-|
12 Money market meltdown
13 Governance by hemorraging IOU’s
14 Porkulus
15 9,000 Earmark budget
16 Cap and Tax
17 2nd attempt at Health Care Nationalization in play.
“Progressive” meme: Our economic difficulties were caused by Republican Fat-Cat-ism.
Solution: Spend more, tax the rich, we’ll take care of everything.
Reality: Our economic difficulties are due to the Government always spending more than it takes in.
Solution: Spend less, borrow less, eventually spend less than we take in, pay our debt.