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Spence, the shrinking budget deficit was a result of the capital gains taxes generated by the run up of the stock market, not by spending cuts. Another MASSIVE influx of tax money was the brilliant decision to allow people to rollover previously untaxed capital gains from the IRA into Roth IRA. A brilliant move to fix the problem then, but we will have a greatly reduced tax base in the future because capital gains on the Roth aren't taxed where with a traditional IRA they are.
In addition the consumer electronics that helped fuel the economy for so many years during the 90's are a direct result of REGAN DEFENSE RESEARCH. Next time you make a call on your cell and find your way with GPS thank President Regan. Unfortunately the results of economic policies often take years to be felt, so the people who put them in place typically don't get the credit.
I will not disagree our current President is a bumbling nincompoop, but the current Executive excessive compensation came during the Bill Clinton economic boom years, everyone was making so much in the market that they didn't care how much we GAVE to executives for little or no performance. Don't be fooled, Congress is as much or more at fault than any President, just as the economic problems in RI cna be placed squarely on the shoulders of the legislature who keeps blaming the Governer.
BTW the economy was failing well before Bush took office for his first term, I saw it clearly in the sales of products to the auto industry that were promised but never came through.
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