Re: Reminder For Democrats & Republicans
You're right about unemployment being over 6 percent during other administrations. This chart may help restore a bit of perspective to the situation:
The glorious advanced nations of Europe only wish their unemployment rates were as low as 6 percent.
If low interest rates are all that drove an economy, it should be booming right now. Why isn't it? We already established that the current deficits aren't due to the tax cuts.
Rob is right about a lot of the late 90s growth (and surpluses) being driven by the stock market boom.