Quote (Black XistenZ @ Mar 5 2018 10:13am)
clinton was a good, a strong candidate who could relate to the people and who was pretty "cool" for a politician. but the main reason for his victory still was the bad timing of bush senior: a successful but nonetheless expensive war coincided with a short economic downturn close to the election and left him no other option but to break his promise of no new taxes. from that moment, bush sr. was fucked.
Bush41 was a poor executive.
During his first term, the savings and loan crisis was causing big problems in a booming economy and threatened to create a recession. Fed chair Alan Greenspan wanted to hike rates anyway because he feared inflation at the time because the economy had been booming for years. Bush41 found out and met with greenspan and tried to convince him to not hike rates. Greenspan told bush that if bush raised taxes then he wouldnt raise interest rates. Bush believes in honor and trust to a fault and agreed to do it. So bush41 breaks his “no new taxes” pledge which really angers his base. Then Greenspan stabs bush41 in the back and does a SERIES of rate hikes anyway. The combined force of tax hiles, rate hikes and savings and loan crisis is a triple whammy that sends the economy into a mild recession that gets blown way out of proportion by the press. Bush41 basically allows people to dictate policy to him and pays the price and is voted out.
A more saavy and smarter guy would realize he has no guarantee of anything and the risks are too great. When greenspan tries to cut that deal, he needed to turn around and take action himself. The correct course would be to go on a spree of regulation cuts, big ones, to ward off recession. His base would love him instead of reject him. Blame greenspan for the recession if he hikes rates and a downturn comes. He would have been a two termer. But his negotiation skills are weak.