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Topic: Rubinomics

	Rubinomics \| Topic Definition \| Find the Meaning and Define the Answer of Rubinomics (Site not responding. Last check: 2007-11-05)
		Rubinomics, a portmanteau of Rubin and economics, was originally used to collectively describe the economic policies of President of the United States Bill Clinton.
		Staunch supporters also claim that a struggling country may even alleviate poverty greatly if Rubinomics is pursued in the long term, probably caused by policies that encourage middle-class growth.
		Rubinomics argue that these deficits are not so harmless because they push up interest rates, making investment more difficult.
	www.thefreeencyclopedia.com /definition/word.aspx?w=Rubinomics (256 words)

	Rubinomics - Wikipedia, the free encyclopedia
		Rubinomics emphasizes the effect that balancing the government budget has on long term interest rates.
		Taxes should match government spending in the long run, and deficit-financed tax cuts are an ineffective way to increase growth.
		Rubinomics has never rejected Keynesian approaches to economics, which call for the government to run a deficit in times of recession.
	en.wikipedia.org /wiki/Rubinomics (252 words)

	ProfessorBainbridge.com: Rubinomics: A Discussion Question (Site not responding. Last check: 2007-11-05)
		So I propound a question to the class for debate; namely, the economic policies of Rubinomics, based on vigorous deficit reduction, free global markets, and investments in education, training, and the environment, were principally responsible for Bill Clinton's reelection in 1996 and the principal achievement of the Clinton administration.
		The real tragedy of the whole Rubinomics rubric is that it is a transparent attempt to resuscitate the image of a defective Keynesian regime which basically squandered the peace dividend that resulted from drawing down our military capability.
		Rubinomics, as you frame it, was neither the reason for Clinton's win in 1996 nor the main achievement of the Clinton Administration.
	www.professorbainbridge.com /2006/04/rubinomics_a_di.html (5886 words)

	Deconstructing Rubinomics
		The real cause of the long-term fiscal imbalance is not insufficient revenues but ill-conceived tax-and-transfer entitlement programs that will collapse of their own weight unless they are reformed to allow workers to invest while they are young to build up annuities to pay for their retirement needs.
		The problem with Rubinomics is that the empirical evidence contradicts its predictions.
		Using the 1990s as a case study, we find that just the opposite happened from what Rubinomics predicts: Interest rates actually began to rise as the deficit declined, and as the economy began to grow in the late 1990s and deficits turned to surpluses, interest rates continued upward.
	www.freedomworks.org /informed/issues_template.php?issue_id=1865 (818 words)

	washingtonpost.com: Reflecting on Rubinomics
		At this moment of discredited rules, Rubinomics is fiscal policy as psychotherapy.
		Rubinomics is more Republican than Republicans have recently behaved.
		In 2003, the first full year since 1954 that Republicans controlled the appropriations process at both ends of Pennsylvania Avenue, the result, Rubin notes dryly, was not parsimony.
	www.washingtonpost.com /ac2/wp-dyn/A50822-2004Jan2?language=printer (697 words)

	Economist's View: Rubinomics 2.0: Getting the Bugs Out
		Robert Rubin, architect of what has come to be known as Rubinomics, defined below as a policy of balanced budgets and trade liberalization, has changed his view of the success of these policies many of which were promoted and implemented during the Clinton administration.
		Born-Again Rubinomics, by William Greider, The Nation, July 31, 2006 issue:..Robert Rubin..., former Treasury Secretary, now executive co-chair of Citigroup, captured the party's allegiance in the 1990s as principal architect of Bill Clinton's...
		Rubinomics in the 1990s did not reverse the long-term trend of rising trade deficits in goods and services or the deepening current-account deficits in capital borrowing from abroad...
	economistsview.typepad.com /economistsview/2006/07/rubinomics_20_g.html (4196 words)

	Now Batting for Pedro Borbon...
		Like any Rubinomics treatise Summers's piece is written in a code whose purpose is to conceal true intentions, and yet the meaning is often crystal clear, although I am not sure as intended.
		Rubinomics pretends these choices don't exist and that fairness means rewards should be shared regardless of risk.
		Rubinomics is a political strategy, not an economic one.
	www.crossmolina.blogspot.com (3723 words)

	Re: The Demise of Rubinomics (Misuse economics theory) (Site not responding. Last check: 2007-11-05)
		I was trying to respond to the fact that Rubinomics is based on certain assumptions, and that those assumptions are not holding true in today’s economic market.
		The other issue I was attempting to raise with my earlier response was that this "Demise of Rubinomics" notion shows us the importance of understanding the underlying assumptions of economic theories.
		Policy makers need to be aware that Rubinomics may not be applicable under our current economic situation, and take this into account when making decisions such as whether to increase taxes, etc.
	www2.tltc.ttu.edu /hein/_disc10fin53292002/00000016.htm (255 words)

	The certainty of economic uncertainty - Pittsburgh Tribune-Review
		When he became President Clinton's White House coordinator of economic policy, and then treasury secretary, the country made so much money that a noun was born -- Rubinomics.
		But Rubin's stance toward life, which his Washington service reinforced, precludes him from distilling his experiences into a doctrine -- expressing Rubinomics in axioms.
		Those were the two smallest monthly increases in the 44 years that monthly data has been reported.
	www.pittsburghlive.com /x/tribune-review/opinion/will/s_172790.html (775 words)

	HeraldNet - Guest Editorial (Site not responding. Last check: 2007-11-05)
		In recent weeks the term "Rubinomics" has spread through the press like a rash -- promoted by people who apparently believe that the best way to discredit anything is to associate it with Bill Clinton.
		Meanwhile, we have the evidence of our own eyes that Clinton and Rubin delivered levels of job creation, investment and economic growth that this administration would be thrilled to duplicate.
		And "Rubinomics" did it without the shots of short-term stimulus Bush is demanding.
	www.heraldnet.com /stories/02/12/30/16285962.CFM (862 words)

	BW Online \| June 21, 2004 \| Reaganomics vs. Rubinomics
		Rubinomics -- named after Robert E. Rubin, President Bill Clinton's Treasury Secretary -- focuses instead on cutting the budget deficit.
		Its proponents argue that reducing long-term interest rates is the best way to foster growth and the creation of new jobs, since that frees up resources for private investment.
		In fact, the real story of the Clinton years is something the supporters of Rubinomics never expected -- the technology boom of the late 1990s.
	www.businessweek.com /magazine/content/04_25/b3888037_mz011.htm (1176 words)

	Jeremy Hitchcock's Ponderings: Economics and the Questions of Policy
		Reaganomics (tax cutting (specifically cutting the highest marginal rate from 70% to 30%)) was thought to create an inflationary surge which would yield sluggish growth.
		Rubinomics (increasing taxes) was thought to have slowed the economic boom in the 90s and kill job creation.
		It turns out that neither of those were true as inflation was cut by more than half with Reaganomics and the economic growth wasn’t phased by the increase in taxes in 1993.
	jeremy.hitchcock.name /archives/000215.html (378 words)

	AEI - Short Publications
		Indeed, "Rubinomics" is now a moniker for economic policy of the late 1990s--the sort of coinage usually reserved for presidents.
		Rubin's story of the salutary effect of deficit reduction on interest rates, investment and growth gave birth to Rubinomics.
		To be sure, this "virtuous cycle" explanation for the 1990s boom has been disputed by non-economists (Robert Reich) and economists (Joseph Stiglitz) in the Clinton administration.
	www.aei.org /publications/pubID.19488,filter.economic/pub_detail.asp (1170 words)

	The bizarre Republican swoon for deficit spending. - By Michael Kinsley - Slate Magazine
		In recent weeks the term "Rubinomics" has spread through the press like a rash—promoted by people who apparently believe that the best way to discredit anything is to associate it with Bill Clinton.
		Meanwhile we have the evidence in front of our own eyes that Clinton and Rubin delivered levels of job creation, investment, and economic growth that the current administration would be thrilled to duplicate.
		And "Rubinomics" did it without the cortisone shots of short-term stimulus that Bush is demanding.
	www.slate.com /?id=2075796 (2488 words)

	BW Online \| December 22, 2003 \| Why Rubinomics Worked
		To appreciate what former Treasury Secretary Rubin and co-author Jacob Weisberg have wrought, it is not necessary to agree with his policy of "Rubinomics," which led to the first federal budget surplus in decades.
		But it is Rubinomics, of course, that made Rubin a target for both conservatives and liberals.
		It was Rubin who persuaded President Clinton to start his first term by raising taxes and cutting the budget deficit, rather than lowering taxes and boosting government spending on social programs as candidate Clinton had promised.
	www.businessweek.com /magazine/content/03_51/b3863042_mz005.htm (983 words)

	William Greider \| Born-Again Rubinomics (Site not responding. Last check: 2007-11-05)
		When Robert Rubin speaks his mind, his thoughts on economic policy are the gold standard for the Democratic Party.
		And the United States is in a much deeper hole, borrowing $700 billion a year from abroad to sustain the domestic economy.
		More to the point, Rubinomics in the 1990s did not reverse the long-term trend of rising trade deficits in goods and services or the deepening current-account deficits in capital borrowing from abroad, which could bring on a crisis if foreign lenders decide to pull the plug.
	www.truthout.org /docs_2006/071806P.shtml (3213 words)

	Paulson can't save the falling dollar (Site not responding. Last check: 2007-11-05)
		Rubinomics is an informal term used to describe economic policy in the mid- to late 1990s under former Treasury Secretary Robert Rubin that included fiscal restraint and the use of "strong dollar" rhetoric.
		"Rubinomics would start by reducing the budget deficit and that in turn would lower interest rates here, which should provide a strong underpinning for the Treasury market and the U.S. stock market," Cheah said.
		However, given that President Bush has only two more years in office and mid-term elections are in November, Paulson may serve more political ends than policy means.
	www.capitolhillblue.com /artman/publish/printer_8747.shtml (794 words)

	AEI - Short Publications
		The 10-year Treasury bond still yields just 4 percent and mortgages are under 5.5 percent.
		Rubinomics, the prevailing theory in the Clinton years, held that the economy boomed because 1993 tax increases turned the deficit into a surplus, driving down interest rates.
		In fact, long-term bond rates were 7.3 percent the in 1992 and 8 percent in 1994 after which something quite different may have lowered rates and lifted the stock market: the election of a Republican House.
	www.aei.org /publications/pubID.19751,filter.all/pub_detail.asp (677 words)

	George Will
		As economic facts are filtered by both parties through the distorting prism of presidential politics, Rubin's experiences and, even more, his temperament present the following paradox: When he became President Clinton's White House coordinator of economic policy, and then treasury secretary, the country made so much money that a noun was born — Rubinomics.
		But Rubin's stance toward life, which his Washington service reinforced, precludes him from distilling his experiences into a doctrine — expressing Rubinomics in the certainty of axioms.
		Rubin believes that a key predicate of the 1990s boom — America's longest uninterrupted expansion — was the mild Clinton tax increase of 1993.
	www.jewishworldreview.com /cols/will010404.asp (775 words)

	Center for American Progress - The Bush Tax Increase - Page 6 - Beyond3D Forum (Site not responding. Last check: 2007-11-05)
		Anyway, the deficits incurred by those who promoted it are simply too much to make it work long term.
		Whatever you think of Clinton and the 90s, "Rubinomics" proved that growth can occur without incurring massive deficits, something that supply side economics has not shown.
		Something only reinforced by your citing of "Rubinomics" which is a joke in itself.
	www.beyond3d.com /forum/showthread.php?p=211737 (4967 words)

	Weblog Entry - 08/28/2002: "DOES THE WALL STREET JOURNAL THINK YOU'RE STUPID?"
		This being a lazy summer evening, and yours truly seeing virtue on both sides of the Rubinomics debate, I will leave the exercise to the able student (though I think its been done recently, and somebody will know where to look it up).
		Far be it from me to try and prove the wisdom of Rubinomics.
		But the undeniable fact is that inflation (which would not change much if you chose a different 12 month period to average) has fallen enough to imply higher real rates, by more than one metric.
	maxspeak.org /gm/archives/00000432.html (1901 words)

	Random Notes: Krugman on budget deficit (Site not responding. Last check: 2007-11-05)
		And sure enough, the drunk has turned mean.
		As the administration reaches for another bottle — another long-term tax cut for the affluent — its officials sullenly denounce the "fixation" on budget deficits, dismissing it as nonsensical "Rubinomics."
		Maybe not today, and maybe not tomorrow, but soon, and for the rest of our lives.
	www.kaush.com /archives/000252.html (218 words)

	TIME.com: Can We Afford All This? -- Dec. 8, 2003 -- Page 4
		Deficits are bad, White House aides concede, but slavish concern about them--which they associate with Clinton Treasury Secretary Robert Rubin--would have kept them from passing the tax cuts they argue are fueling the current boom.
		"All the fears of Rubinomics have not come to pass," says a senior White House official.
		The Democrats, meanwhile, are not helping deficit hawks make their case, having shown few signs of running on fiscal restraint themselves.
	www.time.com /time/magazine/article/0,9171,1006369-4,00.html (763 words)

	USNews.com: Opinion: Capital Commerce:
		Democratic candidates have been running as fiscal hawks this election season, lambasting Republicans as a bunch of free spenders who mismanaged the Clinton surpluses into the Bush deficits.
		It seems as if they are arguing for a return to Rubinomics, the economic theory named after President Clinton's second treasury secretary, Robert Rubin.
		Continue reading "A Bad Time to Return to Rubinomics?"
	www.usnews.com /usnews/biztech/capitalcommerce (1110 words)

	t r u t h o u t - Stirling Newberry \| American Thermidor Part II (via CobWeb/3.1 planetlab2.cs.umd.edu) (Site not responding. Last check: 2007-11-05)
		The "New Economy" is the term applied to the digital economy, and particularly to the use of the internet; as with the phrases "New Politics" and "New Media," it points at the enormous potential of the world of digital communications to change how people live and participate in society.
		The "New Economy" rose in response to the flow of technology, much of it developed by government, and to an economic program which history will call "Rubinomics." What was Rubinomics, and what contribution did it make to the period of prosperity in the 1990s?
		And why did it end with a bubble and a radical change in the direction of American politics?
	www.truthout.org.cob-web.org:8888 /docs_2005/041705A.shtml (2014 words)

	The Parties' Flip-Flops on Deficit Spending: Economics or Politics?
		Democrats were skeptical, overwhelmingly Keynesian, and believed that deficit spending had ended the Great Depression.
		Under Rubinomics the positions began to switch: Democrats became the defenders of fiscal orthodoxy.
		Now Bush has cut taxes for the rich and caused huge deficits.
	ideas.repec.org /a/bep/evoice/1200412.html (236 words)

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