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Ah, New Year’s Eve. What a great night to revisit the past year. Though I’d rather revisit 1999. The unemployment rate was 4.2 percent in 1999. Dot-com stocks were still creating lots of paper millionaires. The U.S. deficit for that year was $1 billion — that’s right, “billion” with a “b,” a far cry from the $1 trillion to $2 trillion it is nowadays. Things were going so well, we had to make up crises, ...
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