http://news4florida.tripod.com/indexfraud.html
This is the untold story of Bush Cabal Fraud and how the Clinton Regime delayed the collapse of the United States economy.
Having received some old documents recently from a Democratic committee member, I wanted to tell this story. These were documents that obviously escaped the shredder. Documents from Democrat controlled committees get boxed up. Then they get duct taped and put in various storage rooms in the Rayburn Office Building on the fourth floor. They then sit there forever until they fall apart, and then somebody will either throw them out or will actually look at them.
The documents from Republican investigating committees generally get shredded afterwards. On the other hand, documents from the investigative staff and general counsels of Democrat controlled committees haven't been able to unveil any truth anyway, so why bother waste the time shredding them.
These documents I received were essentially transcripts of personal notes made by a Democratic congressman who was very friendly with Bill Clinton and had conversations with him during the first several months of his first term in 1993. This congressman had attended a luncheon for congressional Democrats with the President and the President had mentioned that he, Bill Clinton, was aware that the economic numbers that the Reagan-Bush Regime had put out were all wrong, particularly when it came to the size of the annual budget deficits and the accumulated national debt.
In fact Clinton admitted that he had no idea of the size of the fraud and malfeasance committed against the American people during the previous 12 years of the Bushonian Cabal.
When Bush left the White House, the last debt numbers published by the Bush Regime was $5.66 trillion, when, in fact, the actual size of the debt was about $14 trillion. In other words, the national debt was about three times the stated numbers.
Clinton got very nervous because one of the things he had done very early in the regime was try to get his people to figure out how much the nation was in debt and what the actual size of the then current budget deficit was. Nobody in the Clinton Administration knew. They knew they were inheriting a federal budget deficit.
The Bush Administration had publicly stated that the federal budget deficit for fiscal 1992 was $360 billion. As it turned out, the fiscal budget deficit for 1992 going into calendar year 1993 was over $700 billion.
Realizing the enormity of the fraud he had inherited, Clinton actually started thinking about indicting George Bush Sr. on charges of fraud and malfeasance.
It isn't stated in the documents who had encouraged him to do this or whether this was one of his own ideas, but Clinton was getting very nervous by this time and he told a group of Democratic congressmen that there was no money left. He was concerned about what was going to happen.
It must have been a shock. Clinton thought he was inheriting a $360 billion federal budget deficit when it was in fact twice as much. He thought he was inheriting a nation with a $5.6 trillion debt and it turns out to be a $14 trillion debt.
By April he had learned of the Grand Bushonian Fraud -- how the Bush Cabal denuded the Social Security General Trust Fund and 43 other public trust funds out of $5 trillion and then stuffed them full of worthless non-marketable US Treasury securities. This is the time when Clinton began to talk extensively with Alan Greenspan. He understood that something had to be done because we were virtually in a crisis.
Like most people in Washington, Clinton understood that Ronald Reagan was a figurehead and that it was really the Bush Cabal, which was running things for all of those 12 years. He also understood that the Bush Cabal had perpetrated the greatest fraud ever committed against the American people and that the Bush Cabal had essentially destroyed the economy of the United States - which in fact they had.
It was his opinion therefore that the Clinton Administration should take the unprecedented move of indicting the former vice President for fraud and gross malfeasance against the people of the United States. This decision was heavily augmented by the information he learned in March and April (it's not clear how he learned this) about what the Bushonian people had done.
Then he found out what the Democrats had always suspected -- that from 1980 on, the CIA annual assessment report of the Soviet Union was being doctored and that essentially two different reports were being produced. There was a real CIA document, which was called the Annual Assessment Report of the Economic and Military Strength of the Soviet Union. The Democrats had suspected even as early as 1979 that the last real CIA assessment report they had when Carter was still president, clearly indicated that the Soviet Union was beginning to crumble internally. Its economy was virtually in shambles. What little export business it had was quickly going down the tubes. Its infrastructure was falling apart.
Then in 1981, suddenly the annual CIA reports that came directly from the CIA to the White House were not given to any opposition members in Congress. They were not given to Democrats anymore. This document had never been considered a secret document. It had always been publicly available.
The CIA was sending its annual assessment report to the White House directly and not to anybody else. (Later in the 1980s Tommy Rheinhardt the CIA liaison officer to Congress lied extensively about this very same subject matter.)
The White House then would reproduce a whole new CIA report that showed the exact opposite of what was really happening, that the Soviet Union was gaining an economic and military strength at the same time it was falling apart. The Bushonian Cabal then used this as a justification to embark upon a policy of enormous defense buildup and the wasteful expenditure thereunto and the enormous amount of debt necessary to finance said defense buildup.
The reason they never considered indicting Reagan is because Clinton knew that Reagan didn't realize what George Bush was doing. All of the people around Reagan, except for Don Regan, his Chief of Staff, were Bush loyalists and never told Reagan anything. That's one reason why George Bush wanted to get rid of Donald Regan so badly and finally did in 1985. Regan was the only real Reagan guy in the White House.
When Reagan came into office he didn't have a political machine. He didn't have a cadre or a cabal like the Bushes did. He came in with one guy, his friend Don Regan, who had formerly been chairman of Merrill Lynch.
Bush kept trying to keep Regan out of the loop and circumventing him with Craig Roberts and other Bush loyalists. Regan knew he was being sidelined. Finally when he was pushed out, Donald Regan stated that he was actually frightened of George Bush and said so publicly. Ronald Reagan was never told about the CIA assessment reports that were given to him to read, part of which would be incorporated for him into speeches by Bush-controlled political staff writers. You have to remember all of the staff writers for the president were Bostonian minions, and Reagan loved it because it was the political grist he wanted in his campaign to "defeat the Evil Empire." Reagan didn't really understand anything about economics. It must be remembered that the only economic experience he had was in nearly bankrupting the State of California when he was Governor.
Clinton then found out that the only defense that George Bush would have, the reason why this was done, that would generate enough political sympathy to make an indictment against Bush look like a political beast. When Clinton found out that this pretense could be knocked out because of these dual false CIA report schemes that the Bostonian minions had fabricated in order to justify it was in fact itself a ruse.
Clinton wanted to go ahead and push for an indictment of George Bush, when he found out in April that the Bostonian Regime had in 1987 put the arm on the then West Germans and the Japanese to secretly lend money to the Soviet Union. This is what tipped the balance for him. Clinton was hemming and hawing about it until he found out about the Bush Cabal's final strategy, that they had actually propped up the Soviet Union to maintain the Great Lie.
The Soviet Union was very close to bankruptcy in 1987 and the Bush Cabal was scared. They knew that if the Soviet Union fell apart economically in 1987, the jig was up and people would know they had lied. Everybody would know that they had lied about the military and economic strength of the Soviet Union. Therefore the West Germans secretly lent the Soviets $80 billion and the Japanese secretly under Bushonian pressure lent them another $40 billion. However, the money was lent with the understanding that the US treasury and the people of the United States would be ultimately responsible for the$120 billion should the Soviet Union default on said loans. And that 's what got Bill Clinton really upset.
Enter Alan Greenspan, Chairman of the Federal Reserve. Clinton had been talking to Greenspan literally since Day One to try to put together a package to rescue the economy. Greenspan kept telling him that Clinton would have to act not like a liberal Democrat, that he's going to have to act like a moderate Republican, that Clinton would have to have a regime of fiscal restraint and prudence. He told him that he would have to reduce spending and have some targeted tax cuts to industry - things that are not normally associated with liberal Democrats.
Barrons actually once said that Bill Clinton was the best moderate Republican for our economy since Eisenhower. And he did act like a moderate Republican and it lost him some support within the Democratic left. Greenspan then became aware of what Clinton wanted to do. Greenspan agreed with him that if George Bush was indicted and exposed all of the truth of what the Bush Cabal had done to this nation, then there would be no more Bush Cabal. The Bushes would never make a political comeback and we would end once and for all the greatest future threat to the United States economy that could exist (short of thermonuclear war) and that would be a return of a Bushonian Regime.
Greenspan agreed with him and this was during a time when he was asked why he had purposely acted to undermine a Bush re-election bid by keeping the economic reins unusually tight. Greenspan then said, "The nation can't afford any more Bushes." Greenspan was sympathetic to Clinton politically but he reminded him of the reality of the situation. He told him that if you indict George Bush and members of his immediate cabal, the whole truth is going to come out. Then he asked him how are the American people as investors as well as foreign investors and banks going to react. This was in the spring of 1993 when the economic recovery was underway but it was still very nascent at best. Greenspan reminded Clinton that the nation's banks and securities firms and insurance firms were still undercapitalized and that the FDIC and FSLIC Insurance pools were still undercapitalized, and the Treasury had no emergency monies they could extend. Greenspan told Clinton that if George Bush is indicted and the whole truth comes out about the extent of the Bushonian Fraud, the fact that the nation is $14 trillion in debt. If this comes out, he said, on a Sunday night, then by Monday, stock markets worldwide will shut down early and there will be panic selling by both domestic and foreign investors of US securities who will simply dump their shares. By the following day, he said, foreign central banks will begin dumping their holdings of US Treasury Bonds into a marketplace where there will be no bids, reminding Clinton that by and large it was money from foreign central banks which had financed the deficit during the 1980s and that in fact the Bushonian Regime had sold some of America's sovereignty to other nations. By Wednesday, he said, American banks will have thousands of people lined up clamoring to get their money out. He said if you tell the American people the truth, you will start a domino effect, the end result of which would be global economic collapse.
Clinton understood the temerity of the situation who sympathized with Clinton's position and had him understand how clever the Bushonian Cabal; had been in creating a Big Lie because it had successfully trapped Clinton as the successor regime into maintaining the Big Lie and the cover-up for the sake of global economic stability. Greenspan reminded Clinton that the Democrats couldn't even make political hay out of this. Clinton was reportedly by May to be frustrated as hell. Here he found himself as the new president forced to maintain a cover-up of what the Bushonian Cabal had done, yet the Republicans were able to attack him endlessly. And there was nothing he could do. Greenspan then told Clinton that if he would move forward with a fiscally prudent economic agenda and reduce federal spending, the Federal Reserve will work with you and expand money supply targets and begin to bring interest rates down, bring down unemployment and inflation and we can try to turn the situation around - at least to the point of generating fiscal surpluses. At that time you could adopt a strategy with a second term in office of gradually bringing forth the truth to the people.
Clinton did try to do that in 1995 when it became increasingly obvious that the Clintonian economic agenda was working. He had come up with this so-called 30 year recovery plan in which the government would act over the long term to restrain federal spending and would have to build up fiscal surpluses which could be used to pay down debt by open market purchases of US Treasury securities and then retiring those securities. Clinton actually called it the debt free in 30 years plan and Clinton said (and nobody really picked upon on it) that we would have to generate fiscal surpluses of some $15 trillion to make the plan work. That was an admission of what the total debt actually was, but nobody seemed to pick up on the significance of it.
By fostering an 8-year regime of fiscal prudence and restraint, Clinton was able, most importantly of all, to rebuild confidence in US capital market places. That is the most important thing he did. He was able to cut unemployment by half and reduce the inflation rate he inherited by two-thirds. And he was able to strengthen the dollar to all time highs and to generate 4 years of fiscal surpluses, something never before achieved in the history of the nation.
Clinton did in fact use those surpluses to pay down debt as promised. In his second term, he was able to stop the practice of taking FICA taxes and using them as general revenue. In effect Clinton provided the stability and growth that staved off what would have been economic collapse. As Greenspan subsequently said, had George Bush been reelected in 1992, he had no doubt that the nation would have economically collapsed because it was getting to the point that the Bushonian Regime was running out of accounting tricks to hide the actual size of the deficits that were being generated.
By the end of 1992, the Bush Regime had raped and pillaged any source of money that was available to rape and pillage, meaning they had denuded every penny out of the 43 public trust funds, which are constitutionally sacrosanct. It is considered a High Crime for an administration to take money out of the sacrosanct public trust funds. The money does not belong to the United States Government. It belongs to the people of the United States.
They had taken $5 trillion out of the 43 national public trust funds and they had denuded the federal treasury of all of its reserve funds, and they had illegally taken from the Federal Reserve its emergency currency stabilization fund. They had drawn out all collateralized letters of credit. They had issued as much debt equity as they could under the federal agencies - Ginny Mae, Freddy Mae, etc. They had sold as many notes as they could and they had issued as many restricted and worthless notes as they dared.
Greenspan pointed out in 1992 that the nation could not have survived another 4 years of Bushonomics because what they had been doing could simply not be hidden for another 4 years. The economic effects of what they had done would begin to filter through the economy and at that point, the jig would be up. When the truth is going to cause economic pain in government and capital marketplaces, you can't come out with it all at once. It has to be dribbled out a little at a time. The negative impact on the economy then has to be absorbed gradually because if you come out with it all at once, you'll have a debacle on your hands, which nobody wants.
Had Clinton adopted the policy of dribbling out the truth, the economy would have slowly sunk again and the fiscal surpluses he generated would have never been generated. Would the American people have read between the lines and understood? Even to tell the American people the truth a drop at a time would have been a risk.
In the last analysis, the only thing that Clinton did was stabilizing the economy, temporarily, for 8 years. The Dow Jones Industrial Average did move from 2400 to over 11000 during his regime. He did create more wealth for the individual person in this country than had ever been created before-and you simply cannot take that away from him.
People that held on to stocks too long as the market began to decline and saw 50% of that lost - that's not Clinton's fault. That's simply a matter of listening to your stockbrokers and not knowing when to get out.
What Clinton did was to buy us time into another Bushonian debacle, which we now have. The question is - how much more damage will the Bush Cabal wreak beyond what it has already wreaked since the election of George Bush? And what will that damage do to the economy?
The Bush Administration has already admitted that after the coming election they will begin the repillaging of social security - by taking FICA taxes and counting them as general revenues. You're then borrowing from the future every year that you do that. These are the same old "Smoke and Mirror" accounting practices, which were used during the Bush Cabal's first 12 years. They are being used once again to disguise the actual size of Bushonian generated economic deficits. It's entirely possible that we will have a double dip recession because stocks can not continue to increase while the larger economic fundamentals which propel the nation's economy continue to worsen.
The question remains - with its control of mainstream media, can the Bush Cabal continue to hide from the American people the extent of its malfeasance?
When does it all come tumbling down? When everybody knows the truth.
This gets into the Bushonian notion that anybody who tells the truth is being "unpatriotic" or dangerous to the security of the nation. We are no longer talking about the economic health of the nation vis-à-vis Bushonomics. To those who would say that what we are doing is creating further anxiety by telling people the truth, it should be noted that we are talking about economic survival.
Understanding how Clinton dealt with the knowledge of Bush Cabal Fraud, it gives you a sense of compassion regarding the man. Imagine the frustration of having to keep other people's secrets - particularly secrets that you could politically capitalize on yourself. He acted with political restraint and absorbed year after year of Republican attack when he had the ammunition to destroy them. For the sake of global economic stability and by extension the economic survival of its nation and its people, Clinton could not use the truth to defend himself from 8 years of Republican attacks mostly coming from Bushonian Cabalists.
This is the untold story of Bush Cabal Fraud and how the Clinton Regime delayed the collapse of the United States economy.
Having received some old documents recently from a Democratic committee member, I wanted to tell this story. These were documents that obviously escaped the shredder. Documents from Democrat controlled committees get boxed up. Then they get duct taped and put in various storage rooms in the Rayburn Office Building on the fourth floor. They then sit there forever until they fall apart, and then somebody will either throw them out or will actually look at them.
The documents from Republican investigating committees generally get shredded afterwards. On the other hand, documents from the investigative staff and general counsels of Democrat controlled committees haven't been able to unveil any truth anyway, so why bother waste the time shredding them.
These documents I received were essentially transcripts of personal notes made by a Democratic congressman who was very friendly with Bill Clinton and had conversations with him during the first several months of his first term in 1993. This congressman had attended a luncheon for congressional Democrats with the President and the President had mentioned that he, Bill Clinton, was aware that the economic numbers that the Reagan-Bush Regime had put out were all wrong, particularly when it came to the size of the annual budget deficits and the accumulated national debt.
In fact Clinton admitted that he had no idea of the size of the fraud and malfeasance committed against the American people during the previous 12 years of the Bushonian Cabal.
When Bush left the White House, the last debt numbers published by the Bush Regime was $5.66 trillion, when, in fact, the actual size of the debt was about $14 trillion. In other words, the national debt was about three times the stated numbers.
Clinton got very nervous because one of the things he had done very early in the regime was try to get his people to figure out how much the nation was in debt and what the actual size of the then current budget deficit was. Nobody in the Clinton Administration knew. They knew they were inheriting a federal budget deficit.
The Bush Administration had publicly stated that the federal budget deficit for fiscal 1992 was $360 billion. As it turned out, the fiscal budget deficit for 1992 going into calendar year 1993 was over $700 billion.
Realizing the enormity of the fraud he had inherited, Clinton actually started thinking about indicting George Bush Sr. on charges of fraud and malfeasance.
It isn't stated in the documents who had encouraged him to do this or whether this was one of his own ideas, but Clinton was getting very nervous by this time and he told a group of Democratic congressmen that there was no money left. He was concerned about what was going to happen.
It must have been a shock. Clinton thought he was inheriting a $360 billion federal budget deficit when it was in fact twice as much. He thought he was inheriting a nation with a $5.6 trillion debt and it turns out to be a $14 trillion debt.
By April he had learned of the Grand Bushonian Fraud -- how the Bush Cabal denuded the Social Security General Trust Fund and 43 other public trust funds out of $5 trillion and then stuffed them full of worthless non-marketable US Treasury securities. This is the time when Clinton began to talk extensively with Alan Greenspan. He understood that something had to be done because we were virtually in a crisis.
Like most people in Washington, Clinton understood that Ronald Reagan was a figurehead and that it was really the Bush Cabal, which was running things for all of those 12 years. He also understood that the Bush Cabal had perpetrated the greatest fraud ever committed against the American people and that the Bush Cabal had essentially destroyed the economy of the United States - which in fact they had.
It was his opinion therefore that the Clinton Administration should take the unprecedented move of indicting the former vice President for fraud and gross malfeasance against the people of the United States. This decision was heavily augmented by the information he learned in March and April (it's not clear how he learned this) about what the Bushonian people had done.
Then he found out what the Democrats had always suspected -- that from 1980 on, the CIA annual assessment report of the Soviet Union was being doctored and that essentially two different reports were being produced. There was a real CIA document, which was called the Annual Assessment Report of the Economic and Military Strength of the Soviet Union. The Democrats had suspected even as early as 1979 that the last real CIA assessment report they had when Carter was still president, clearly indicated that the Soviet Union was beginning to crumble internally. Its economy was virtually in shambles. What little export business it had was quickly going down the tubes. Its infrastructure was falling apart.
Then in 1981, suddenly the annual CIA reports that came directly from the CIA to the White House were not given to any opposition members in Congress. They were not given to Democrats anymore. This document had never been considered a secret document. It had always been publicly available.
The CIA was sending its annual assessment report to the White House directly and not to anybody else. (Later in the 1980s Tommy Rheinhardt the CIA liaison officer to Congress lied extensively about this very same subject matter.)
The White House then would reproduce a whole new CIA report that showed the exact opposite of what was really happening, that the Soviet Union was gaining an economic and military strength at the same time it was falling apart. The Bushonian Cabal then used this as a justification to embark upon a policy of enormous defense buildup and the wasteful expenditure thereunto and the enormous amount of debt necessary to finance said defense buildup.
The reason they never considered indicting Reagan is because Clinton knew that Reagan didn't realize what George Bush was doing. All of the people around Reagan, except for Don Regan, his Chief of Staff, were Bush loyalists and never told Reagan anything. That's one reason why George Bush wanted to get rid of Donald Regan so badly and finally did in 1985. Regan was the only real Reagan guy in the White House.
When Reagan came into office he didn't have a political machine. He didn't have a cadre or a cabal like the Bushes did. He came in with one guy, his friend Don Regan, who had formerly been chairman of Merrill Lynch.
Bush kept trying to keep Regan out of the loop and circumventing him with Craig Roberts and other Bush loyalists. Regan knew he was being sidelined. Finally when he was pushed out, Donald Regan stated that he was actually frightened of George Bush and said so publicly. Ronald Reagan was never told about the CIA assessment reports that were given to him to read, part of which would be incorporated for him into speeches by Bush-controlled political staff writers. You have to remember all of the staff writers for the president were Bostonian minions, and Reagan loved it because it was the political grist he wanted in his campaign to "defeat the Evil Empire." Reagan didn't really understand anything about economics. It must be remembered that the only economic experience he had was in nearly bankrupting the State of California when he was Governor.
Clinton then found out that the only defense that George Bush would have, the reason why this was done, that would generate enough political sympathy to make an indictment against Bush look like a political beast. When Clinton found out that this pretense could be knocked out because of these dual false CIA report schemes that the Bostonian minions had fabricated in order to justify it was in fact itself a ruse.
Clinton wanted to go ahead and push for an indictment of George Bush, when he found out in April that the Bostonian Regime had in 1987 put the arm on the then West Germans and the Japanese to secretly lend money to the Soviet Union. This is what tipped the balance for him. Clinton was hemming and hawing about it until he found out about the Bush Cabal's final strategy, that they had actually propped up the Soviet Union to maintain the Great Lie.
The Soviet Union was very close to bankruptcy in 1987 and the Bush Cabal was scared. They knew that if the Soviet Union fell apart economically in 1987, the jig was up and people would know they had lied. Everybody would know that they had lied about the military and economic strength of the Soviet Union. Therefore the West Germans secretly lent the Soviets $80 billion and the Japanese secretly under Bushonian pressure lent them another $40 billion. However, the money was lent with the understanding that the US treasury and the people of the United States would be ultimately responsible for the$120 billion should the Soviet Union default on said loans. And that 's what got Bill Clinton really upset.
Enter Alan Greenspan, Chairman of the Federal Reserve. Clinton had been talking to Greenspan literally since Day One to try to put together a package to rescue the economy. Greenspan kept telling him that Clinton would have to act not like a liberal Democrat, that he's going to have to act like a moderate Republican, that Clinton would have to have a regime of fiscal restraint and prudence. He told him that he would have to reduce spending and have some targeted tax cuts to industry - things that are not normally associated with liberal Democrats.
Barrons actually once said that Bill Clinton was the best moderate Republican for our economy since Eisenhower. And he did act like a moderate Republican and it lost him some support within the Democratic left. Greenspan then became aware of what Clinton wanted to do. Greenspan agreed with him that if George Bush was indicted and exposed all of the truth of what the Bush Cabal had done to this nation, then there would be no more Bush Cabal. The Bushes would never make a political comeback and we would end once and for all the greatest future threat to the United States economy that could exist (short of thermonuclear war) and that would be a return of a Bushonian Regime.
Greenspan agreed with him and this was during a time when he was asked why he had purposely acted to undermine a Bush re-election bid by keeping the economic reins unusually tight. Greenspan then said, "The nation can't afford any more Bushes." Greenspan was sympathetic to Clinton politically but he reminded him of the reality of the situation. He told him that if you indict George Bush and members of his immediate cabal, the whole truth is going to come out. Then he asked him how are the American people as investors as well as foreign investors and banks going to react. This was in the spring of 1993 when the economic recovery was underway but it was still very nascent at best. Greenspan reminded Clinton that the nation's banks and securities firms and insurance firms were still undercapitalized and that the FDIC and FSLIC Insurance pools were still undercapitalized, and the Treasury had no emergency monies they could extend. Greenspan told Clinton that if George Bush is indicted and the whole truth comes out about the extent of the Bushonian Fraud, the fact that the nation is $14 trillion in debt. If this comes out, he said, on a Sunday night, then by Monday, stock markets worldwide will shut down early and there will be panic selling by both domestic and foreign investors of US securities who will simply dump their shares. By the following day, he said, foreign central banks will begin dumping their holdings of US Treasury Bonds into a marketplace where there will be no bids, reminding Clinton that by and large it was money from foreign central banks which had financed the deficit during the 1980s and that in fact the Bushonian Regime had sold some of America's sovereignty to other nations. By Wednesday, he said, American banks will have thousands of people lined up clamoring to get their money out. He said if you tell the American people the truth, you will start a domino effect, the end result of which would be global economic collapse.
Clinton understood the temerity of the situation who sympathized with Clinton's position and had him understand how clever the Bushonian Cabal; had been in creating a Big Lie because it had successfully trapped Clinton as the successor regime into maintaining the Big Lie and the cover-up for the sake of global economic stability. Greenspan reminded Clinton that the Democrats couldn't even make political hay out of this. Clinton was reportedly by May to be frustrated as hell. Here he found himself as the new president forced to maintain a cover-up of what the Bushonian Cabal had done, yet the Republicans were able to attack him endlessly. And there was nothing he could do. Greenspan then told Clinton that if he would move forward with a fiscally prudent economic agenda and reduce federal spending, the Federal Reserve will work with you and expand money supply targets and begin to bring interest rates down, bring down unemployment and inflation and we can try to turn the situation around - at least to the point of generating fiscal surpluses. At that time you could adopt a strategy with a second term in office of gradually bringing forth the truth to the people.
Clinton did try to do that in 1995 when it became increasingly obvious that the Clintonian economic agenda was working. He had come up with this so-called 30 year recovery plan in which the government would act over the long term to restrain federal spending and would have to build up fiscal surpluses which could be used to pay down debt by open market purchases of US Treasury securities and then retiring those securities. Clinton actually called it the debt free in 30 years plan and Clinton said (and nobody really picked upon on it) that we would have to generate fiscal surpluses of some $15 trillion to make the plan work. That was an admission of what the total debt actually was, but nobody seemed to pick up on the significance of it.
By fostering an 8-year regime of fiscal prudence and restraint, Clinton was able, most importantly of all, to rebuild confidence in US capital market places. That is the most important thing he did. He was able to cut unemployment by half and reduce the inflation rate he inherited by two-thirds. And he was able to strengthen the dollar to all time highs and to generate 4 years of fiscal surpluses, something never before achieved in the history of the nation.
Clinton did in fact use those surpluses to pay down debt as promised. In his second term, he was able to stop the practice of taking FICA taxes and using them as general revenue. In effect Clinton provided the stability and growth that staved off what would have been economic collapse. As Greenspan subsequently said, had George Bush been reelected in 1992, he had no doubt that the nation would have economically collapsed because it was getting to the point that the Bushonian Regime was running out of accounting tricks to hide the actual size of the deficits that were being generated.
By the end of 1992, the Bush Regime had raped and pillaged any source of money that was available to rape and pillage, meaning they had denuded every penny out of the 43 public trust funds, which are constitutionally sacrosanct. It is considered a High Crime for an administration to take money out of the sacrosanct public trust funds. The money does not belong to the United States Government. It belongs to the people of the United States.
They had taken $5 trillion out of the 43 national public trust funds and they had denuded the federal treasury of all of its reserve funds, and they had illegally taken from the Federal Reserve its emergency currency stabilization fund. They had drawn out all collateralized letters of credit. They had issued as much debt equity as they could under the federal agencies - Ginny Mae, Freddy Mae, etc. They had sold as many notes as they could and they had issued as many restricted and worthless notes as they dared.
Greenspan pointed out in 1992 that the nation could not have survived another 4 years of Bushonomics because what they had been doing could simply not be hidden for another 4 years. The economic effects of what they had done would begin to filter through the economy and at that point, the jig would be up. When the truth is going to cause economic pain in government and capital marketplaces, you can't come out with it all at once. It has to be dribbled out a little at a time. The negative impact on the economy then has to be absorbed gradually because if you come out with it all at once, you'll have a debacle on your hands, which nobody wants.
Had Clinton adopted the policy of dribbling out the truth, the economy would have slowly sunk again and the fiscal surpluses he generated would have never been generated. Would the American people have read between the lines and understood? Even to tell the American people the truth a drop at a time would have been a risk.
In the last analysis, the only thing that Clinton did was stabilizing the economy, temporarily, for 8 years. The Dow Jones Industrial Average did move from 2400 to over 11000 during his regime. He did create more wealth for the individual person in this country than had ever been created before-and you simply cannot take that away from him.
People that held on to stocks too long as the market began to decline and saw 50% of that lost - that's not Clinton's fault. That's simply a matter of listening to your stockbrokers and not knowing when to get out.
What Clinton did was to buy us time into another Bushonian debacle, which we now have. The question is - how much more damage will the Bush Cabal wreak beyond what it has already wreaked since the election of George Bush? And what will that damage do to the economy?
The Bush Administration has already admitted that after the coming election they will begin the repillaging of social security - by taking FICA taxes and counting them as general revenues. You're then borrowing from the future every year that you do that. These are the same old "Smoke and Mirror" accounting practices, which were used during the Bush Cabal's first 12 years. They are being used once again to disguise the actual size of Bushonian generated economic deficits. It's entirely possible that we will have a double dip recession because stocks can not continue to increase while the larger economic fundamentals which propel the nation's economy continue to worsen.
The question remains - with its control of mainstream media, can the Bush Cabal continue to hide from the American people the extent of its malfeasance?
When does it all come tumbling down? When everybody knows the truth.
This gets into the Bushonian notion that anybody who tells the truth is being "unpatriotic" or dangerous to the security of the nation. We are no longer talking about the economic health of the nation vis-à-vis Bushonomics. To those who would say that what we are doing is creating further anxiety by telling people the truth, it should be noted that we are talking about economic survival.
Understanding how Clinton dealt with the knowledge of Bush Cabal Fraud, it gives you a sense of compassion regarding the man. Imagine the frustration of having to keep other people's secrets - particularly secrets that you could politically capitalize on yourself. He acted with political restraint and absorbed year after year of Republican attack when he had the ammunition to destroy them. For the sake of global economic stability and by extension the economic survival of its nation and its people, Clinton could not use the truth to defend himself from 8 years of Republican attacks mostly coming from Bushonian Cabalists.
