Last night Bill Clinton gave another performance that wowed the worshipful delegates, Obama's Hollywood acolytes, and
Democrat sycophants in the mainstream media. There was considerable nostalgia for Clinton's economic success in contrast to the Obama Administration's abysmal economic failures. This was part of a carefully calculated plan to get the country to forget Obama's manifold economic and other failures by reinventing the myth of Bill Clinton as a successful economic steward.
While the country experienced economic growth and an evanescent budget surplus during Clinton's second term, this did not occur due to any profound policy accomplishments by Clinton. This occurred after the 1994 elections, when Republicans gained control of Congress and held it for the remainder of Clinton's term. During the first two years of his administration, Clinton unsuccessfully tried to ram a cost prohibitive health care bill through Congress and enacted a tax increase without a single GOP vote. His loss of congressional control in 1994, forced him to make a pragmatic pivot to the center for political survival. Obama has stuck to his leftist ideological guns in contrast.
In our governmental system, the power to spend money begins in the House of Representatives and federal budgets must be approved by Congress. Real credit for American economic success during Clinton's Administration goes to innovative American workers and companies such as Bain Capital and to the leadership of congressional Republicans including House Budget Committee Chair John Kasich (now Ohio Governor) and Senate Budget Committee Chair Pete Domenici of New Mexico.
Bill Clinton and Barack Obama are counting on Americans short memory of the real reasons for American economic success in the 1990s to hoodwink us into thinking things will get better in a 2nd term. They won't get better if he is reelected and if one or more congressional chambers remain under Democratic control. Our situation is likely to get worse due to the failure of Obama and his Democrats to take the tough fiscal steps and entitlement reforms necessary to restore national fiscal solvency. Mitt Romney and Paul Ryan, unlike the exhausted volcanoes Barack Obama, Joe Biden, Harry Reid, Nancy Pelosi, et. al. have the vision, wisdom and communication skills necessary to make the federal spending and entitlement reforms necessary to begin restoring the American dream and the promise of national exceptionalism.