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Mascoutah, Illinois | What started the mess was Alan Greenspan in the second half of 1999. The stock market was doing well, energy was very affordable, and we had GDP of 9.1 percent in the fourth quarter. Granted some of that spending was attributed to the Y2K scare. We had no inflation but Greenspan kept raising rates to slow the economy. He did a great job. Add in the attacks on September 11, a war we cannot afford to pay for, and skyrocketing energy costs. The result was a great economic expansion was ruined. One man in charge started the snowball. Add in the terrorist attack and some terrible decision making by our President and presto. You had the perfect storm to send our nation down the crapper. | |
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25 questions about the economy.
