Wall Street indeed credits his leadership. Morgan Stanley economist William Sullivan: ‘You have to give him credit for experimenting with the economy’s speed limit. He recognized there has been a recalibration … that has broken all the rules.’
Thank his tax cuts. ‘[T]he Reagan boom continues … all [Clinton] did was paddle his surfboard out to the coming wave of the business cycle.’ (National Review Online)
‘A Republican-led Congress and the Clinton administration should share in the praise… [T]hey did restrain federal spending. That… turned huge deficits into budget surpluses. This has left more money in the economy for business to invest.’(Christian Science Monitor)
Economists like Edward Yardeni speak of a New Economy, in which our technological revolution increases productivity, allowing growth to continue without a rise in inflation
