Corporate America ran the books fed ran the rates up caused the recession
zero rates cause bubbles
negative externality of zero rates not deficits.

From my viewpoint, part of Clinton’s means of ‘balancing the budget” was to drastically cut funding to many important Federal agencies including the Dep. of the Interior. This led to the Forest Service and the BLM not having enough funding to manage public lands which were being used to support industries such as Ranching (open range grazing) and Lumbering (timber sales and auctions). Thus as a byproduct of these agencies’ inability to accommodate the needs of these industries, we now suffer from the death of lumber in the Pacific Northwest, which not only cost thousands of jobs, but forced the influx of more imported timber. It also truncated efforts on the parts of these agencies to maintain forest lands by allowing timber sales of what I like to refer to as ‘fuel forests’; I. e. overgrown and unhealthy forest lands, resulting in massive fuel contributions to fires in most western states. The grazing issues may never be resolved since, ranchers have had to raise only as much herd as can afford to be fed on private land (or pay for feed for larger herds). While I don’t at all condone the takeover of public facilities (in Oregon, for example), I understand the frustration of the Ranchers who should have been granted an audience by the Feds to build public understanding of the plight they suffer. One more thing – NAFTA didn’t work until the Railroads (and trucking companies) got into a bidding war with each other and slowly lowered their transportation rates to remain competitive. Like Magic! All part of the Clinton legacy.

It was the best of times. A glorious time. Amazing. Everybody had a full time productive & rewarding job.