Reply #9: No, that's not correct [View All]

[AJH032]

I find it humorous and yet disturbing that the Clinton administration is being blamed for the economic troubles today, especially on a Democratic message board.

The economic crisis today is primarily a result of poor monetary policy by the Fed, in which interest rates were set too low and credit became very cheap. This, happening over a period of several years, gave people essentially "fake" money with which to purchase homes (remember the housing boom?). All credit, of course, must be substantiated at some point. Perhaps there are some things President Clinton could have done to protect against this, but it was primarily a banking failure, not a failure of the federal government, and to assign him "most" of the blame is just ridiculous.