The Commerce Department announced that
the economy grew at an astounding 8.2 percent in the third quarter of this
year the fastest pace in nearly two decades and higher than previously
reported. This comes at a time when the Democratic presidential candidates
would have liked exactly the opposite. Now they are without a talking point
on economics for their troubled bids for the highest office in the land.
At the beginning of their campaigns they tried to use the economy as a
talking point. While the markets were well beneath the psychological 10,000
mark, they were able to assert that the economy under George W. Bush
was the worst in history. They talked about corporate corruption and the
loss of jobs. But while the Democrats propagandized about the marketplace
being in dire straights the business community and the economic outlook for
the United States was already talking an upswing.
The fact of the matter is that there were two reasons for the troubles the
economy saw at the beginning of the Bush years, the tragic events of
September 11th and the false prosperity of the 1990’s
The
1990’s saw the techno-stock boom. Company after company that had no product
but had a website, consultant after consultant that sold nothing, and IPO
after inflated IPO caused a false prosperity in this country. People were
doing nothing more that starting companies on paper that had no product and
were going IPO to the tune of millions of dollars. It wasn’t until the
marketplace, not the most discerning group, realized that the economy was a
paper-tiger did they act to bring the market’s indicators back to where they
should have been all along.
Also in the 1990’s we had the most number of high-level corporate scandals
in US History. The Democrats would have you believe that because they were
caught after President Bush took office that the failure was his. The fact
of the matter is that all of the crime took place as the Clinton
Administration’s Security & Exchange Commission stood delinquent in
enforcing any of it’s rules and standards. While it cannot be said with
certainty that this was done on purpose it cannot be denied that it is a
possibility. After all, Bill Clinton was more worried about
the legacy he would leave behind than many things that took place during his
time in office.
Then we have the fickleness of the stock market after September 11th.
People, uncertain of what lay ahead did what humans usually do and pull
their money closer to them. Not only did they get out of the markets but
they also started shopping closer to home, which led to declines in
corporate profits. Only after President Bush replenished the certainty of
national security, only after we moved the front of the War on Terror to
their soil instead of ours did the American public start to re-invest in
American companies. The fault of this event lies with the negligence of
another presidential administration that didn’t act to kill Osama bin
Laden when the chance presented itself. I suppose golf was too
important.
No, the Democrats have truly lost the talking point on the economy. Now they
have one less thing to spin at their disposal. Hopefully, one by one, each
of their propaganda points will be eliminated so that the American people
can see what they really stand for, the lust for power at any cost.
Frank Salvato is a
political media consultant and the managing editor for The New Media Journal.us. He is a
contributing writer for The Washington Dispatch, GOPUSA, OpinionEditorials,
Men’s News Daily, Canada Free Press & AmericanDaily. His pieces are
regularly featured in Townhall.com. He has appeared as a guest on The
O’Reilly Factor, The Kevin Matthews Radio Show (Chicago) and The Brad Messer
Radio Show (San Antonio). His pieces have been recognized by the Japan
Center for Conflict Prevention and are occasionally featured in The
Washington Times and The London Morning Paper as well as other national and
international publications.
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