Here’s something I bet you thought you’d never see at the perilously liberal Huffington Post.
In a Dean Baker article published Tuesday with the astonishing title “There Is No Santa Claus and Bill Clinton Was Not an Economic Savior,” the second sentence read, “Just as little kids have to come to grips with the fact that there is no Santa Claus, it is necessary for millions of liberals, including many who think of themselves as highly knowledgeable about economic matters, to realize that President Clinton's policies sent the economy seriously off course.”
For those unfamiliar with Baker, he is no conservative.
Far from it, as he is currently co-director of the Center for Economic Policy which even the liberal Wikipedia categorizes as “progressive.”
It is therefore fascinating to see a liberal economist on Christmas Day go after the saintly Clinton.
“[T]he point of economic policy is to produce an economy that improves the lives of the people in a sustainable way,” wrote Baker. “Clinton badly flunked this test.”
Baker then proceeded to speak inconvenient truths that the left and their media minions have ignored for over a decade.
“The Clinton economy was driven by a stock bubble,” he wrote. “This is not a debatable point. The ratio of market-wide stock prices to corporate earnings was well over 30 to 1 at the peak of the bubble in 2000. This is more than twice the historic average.”