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Wednesday, October 26, 2016

America’s roiling debate over how to stimulate the ailing economy — and save the beleaguered middle class — will soon be joined by a familiar and authoritative voice. Former president Bill Clinton is now speaking out with increasing frequency and force, as he did last Friday at a Georgetown University conference on his administration’s stewardship of the longest and largest economic expansion in American history, and as he will continue to do in coming weeks with the publication of a new book titled “Back To Work: Why We Need Smart Government For A Strong Economy,” to be published by Knopf on Nov. 8.

The conference at Clinton’s alma mater marked the 20th anniversary of a series of speeches he delivered there in 1991 as a newly minted presidential candidate, when he laid out a detailed agenda to renew American government after a dozen years of stagnation under the Reagan and Bush administrations. Its message, delivered by Clinton himself along with speakers including former Treasury Secretary Robert Rubin and Gene Sperling, the chairman of President Obama’s National Economic Council, could scarcely have been clearer: Contrary to the Tea Party, government (and taxes) are not the problem but part of the solution; and the nation’s growing income inequality is a serious obstacle to growth and stability that must be addressed — by government.

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Copyright 2011 The National Memo
  • cityguy62
  • pablocarlos109

    Captialism without regulation is chaos. This is what we now have in the USA. Greed and the resultant disparity of income and disparity of the taxes on this income regardless of income source seems to be a terminal disase. Possibly one cure exists.
    This cure has several necessary treatments. All income taxed at same rate regardless of work related or investment related. Minimum taxes, no loop holes that result in zero taxes for any individual above a certain income level and/or corporation (individual). Taxes on all stock and investment trades. And finally public financing of all political campaigns (no private or corporate money) and election made a national holiday or in lieu of a national a three day weekend for voting for any and all elections (friday through sunday or saturday through monday.

  • cordwood8

    I thought that sometime a figurehead would bring up issues concerning the income disparity. This is part of the reason we are now confronted with Occupy Wall Street (OWS). The 99% exclaim enough already!

    Keep pressing the debate, Mr. Clintn.

  • AmyDugan

    If you missed the symposium on Friday, you can watch it here

  • casvivian

    Former First Lady Hillary Clinton said, “It takes a village to raise a child.” As true ast that seems, on the surface, as a grand and noble concept, let’s look at the greater issue that creates the need for the village to raise the child.

    As parents, we all want the best for our children. However, looking across America, we find millions of people living on the street, with no where to live, no place to work, and no means of transportation to put them in the position of even looking gor work. Their sole goal is to survive to the next day. Some of these have children, and some of them are children. While we can feed and clothe the children of the Nation, we find it difficult to accept the more daunting task of elimitating the condition that brought about the need for those children services.

    Then there are those, strugggling with all their might to keep a roof over their head, food on the table, and their children happy and healthy. From this standpoint I can speak with authority. I am 61 years old, a college graduate at age 35, and I have a wife and two adult children. For better than 30 years I had “suit & tie” type jobs of the lower middle-class variety. By my 41st birthday, I found myself destitute, and my family in peril. For the next 20 years, I and my family suffered through a myriad of highs and lows with job losses and gains, part-time, contract and full-time work for me and my wife, and later our children. All with the one purpose: to keep us together as a family in a safe place where we can, at least, exist. Ihave gone from the “suit & tie” set to the uniform set, and the one thing I have discovered is that the uniform set is at the bottom of the food chain, subject to discharge at the whim of his or her supervisor. The unemployment programs that are supposed to protect the workers, now caters to the wishes of the employers. Until that changes, there is no hope of truly turning the tide of this national economic travisty.

  • Charles Scott

    The people that I talk to are angry ; and when you ask what the Rep party stands for they Just don,t know; They are almost militantly Angry; What is going on in Americia?

  • debra vener

    Although I do agree with many of his points & think he managed to get this Country back to where it should be during his Presidency, I think things have changed greatly! The tax laws have to change! This 1% of the super wealthy has grown enormously & it is time they paid their fair share of taxes & the loopholes were taken away! I also totally agree with time limits for congress, they pay their own SS taxes & healthcare. They also are responsible for their own retirement plans. The rest of us don’t get a salary for life,health insurance for life & paid retirement plans. I feel these people have no right & are not deserving of anything different than a person that picks up trash for a living! It’s also time the Republicans stepped down from their self made pedestals & became members of the real world. Obama has tried & has had some good ideas, but is always shot down & made to look like a fool! He’s not the President that destroyed this Country & everyone is trying to make it look like he did! I would also like the Republicans to look up the definition of “conservative”. It’s certainly must be a different definition than my dictionary has. Loved Clinton(as a President,only), thought he did a phenomanal job, just wish Obama would have been given the same chance. He has been put down since the get go, I’m still tired of hearing that he is not a US citizen, has no birth certificate, never went to Columbia & rec’d his law degree, is working with underground groups to destroy this Country. People are idiots! When they are too stupid to research the truth, they believe anything they are told. I rec’d a message from a fb “friend” that claimed Obama had changed Halloween this year, because it goes against his relgion & it had to be celebrated on either the 30th or Nov.1st. These are the Republicans that are voting in this Country, so how do you expect things to turn out. I would vote for Obama again in a heartbeat, he’s not the one we need to change, he’s the scapegoat!!!

  • tim stevens

    May all the detractors take heed to this article.

  • Jules Philip Guidry Sr

    The terms,”LAWFUL MONEY and LAWFUL MONEY OF THE UNITED STATES”; shall be construed to mean GOLD or SILVER COINS OF THE UNITED STATES.(12 United States Code 152).Congress has never declared, FEDERAL RESERVE NOTES to be a legal tender in payment of debts:(“no debt can be paid in full, in the eyes of American Jurisprudence unless paid in gold or silver and regulated in value by Congress…(Article 1 Sections 8 and 10 of the CONSTITUTION OF THE UNITED STATES OF AMERICA).
    THE POWER TO REGULATE the value of money, and interest rates, should be in the UNITED STATES CONGRESS, an not in the hands of privet banks. The biggest cause of inflation is artificial money, the federal reserve note!

  • debra vener

    Short, funny & totally right! Why can’t people see this?

  • CitizenWhy

    Obama, consistently feeding the pit bull called Wall St as it snarls at him, has no credibility when speaking about income inequality.

    Clinton, who created the giant sucking sounds as jobs disappeared from the US due to the NAFTA he passed, lacks credibility on this issue.

    All Republicans, with their support of offshoring jobs and tax plans that lower taxes for the rich and often raise them for the middle class, lack credibility.

    Only the Occupy movement and Bernie Sanders and a few others have credibility on this issue.

  • KimBarrett

    The solution, he said, is not to scapegoat illegal immigrants or to pretend that government, taxes, and regulations are the problem. As the president who oversaw a period of prosperity, productivity, and innovation, Clinton emphasized the difference between “invest-and-grow economics and trickle-down economics.” It is that philosophical difference, rather than particular policies, which remains salient for American voters today.

  • KimBarrett

    Thanks Bill Clinton!
    Permalink Submitted by debra vener on Mon, 10/31/2011 – 11:25am
    Although I do agree with many of his points & think he managed to get this Country back to where it should be during his Presidency, I think things have changed greatly! The tax laws have to change! This 1% of the super wealthy has grown enormously & it is time they paid their fair share of taxes & the loopholes were taken away! I also totally agree with time limits for congress, they pay their own SS taxes & healthcare. They also are responsible for their own retirement plans. The rest of us don’t get a salary for life,health insurance for life & paid retirement plans. I feel these people have no right & are not deserving of anything different than a person that picks up trash for a living! It’s also time the Republicans stepped down from their self made pedestals & became members of the real world. Obama has tried & has had some good ideas, but is always shot down & made to look like a fool! He’s not the President that destroyed this Country & everyone is trying to make it look like he did! I would also like the Republicans to look up the definition of “conservative”. It’s certainly must be a different definition than my dictionary has. Loved Clinton(as a President,only), thought he did a phenomanal job, just wish Obama would have been given the same chance. He has been put down since the get go, I’m still tired of hearing that he is not a US citizen, has no birth certificate, never went to Columbia & rec’d his law degree, is working with underground groups to destroy this Country. People are idiots! When they are too stupid to research the truth, they believe anything they are told. I rec’d a message from a fb “friend” that claimed Obama had changed Halloween this year, because it goes against his relgion & it had to be celebrated on either the 30th or Nov.1st. These are the Republicans that are voting in this Country, so how do you expect things to turn out. I would vote for Obama again in a heartbeat, he’s not the one we need to change, he’s the scapegoat!!!


  • Esther

    I totally agree with. Debra. Enough already.Leave Obama alone be honest so this country could be great once more as God meant it to be. Its not an accident that the whole world is represented in the US. America is a great country and needs every body on board regardless of your political affiliation. Grow up Republicans,and love ur country and not yourselves.

  • AwGeesGirl

    Why is it no one talks about why we are why we are in this economic mess? Doesn’t anyone remember or know about (failed) Reaganomics or the George Bush years, both of why we are where we are today.

  • ClintonClark

    Don’t you think that Obamas 25% increase in size of Government and Higher pay, or his increasing the power of the EPA, The Dodd Bill to control Big banks being around small banks its a disaster Bill, increasing the size of the IRS 18,000, since 2006 the Democratic party had the majority and the control of Congress spending close to 6 trillion dollars, Obamas .”Obama Care full of special interest exemptions, not to mention the mentality of we will figure it out as it unfolds , Do you really think any of this has not be a negative impact to this economy, I call it blind followers, To topic, our imagration policies from the mid 60’s has called fro 1 million folks imagrating to America, yes sounds great but instead of most countries we were going to lift the third world countries by taking non skilled people well after so many years you end up with a less fortunate group which becomes larger and larger, now we want another 11 million of illegals, There is nothing promising in this administraion unless your a Union worker or a Illegal person, what about the middle class and our failed imagration policies? Speak with a whole world view instead of a , we our better than you so suck it up, Talking about the far left fantasy Island which wants to squash America to a Failed Euro model.

  • obxsailor

    Please excuse me if this comment is out of context, but it is the only place, and I’m new, I’ve found to express my concern.
    Mr. Clinton is quite correct.
    Those in the houses of Congress have ‘perks,’ retirement and lifelong health care, to name a few, of which the average american can only dream. These are the ones who are strongly advocating cutting back on Social Security and Medicare.
    There must be others, besides myself, who have received emails regarding a new constitutional amendment regarding term limits, those ‘perks’ and those laws and regulations they pass, but do not apply to them. I forward these to the more than 20 requested, but have yet to hear ANYONE in politics, no suprise, the press or the media say anything. To say that I’m beyond frustrated is an extreme understatement. Is there any hope?

  • mlkii

    The Bush people learned to spin their lie no matter what the true is. The right wing counts on the American public’s ignorance. So far it seems to work. An illerate people that only counts on Fox news(an oxymoron if there ever was one) as their source of information, is doomed to self destruction.
    Thanks Joe for your continued work informing the nation.

  • casegame

    As the president that signed the piece of legislation that added to this “income inequality”, Bill Clinton should apologize first. He played a major role in this “Unsustainable” predicament and his statement now, sounds disingenuous at the very least.

  • Indy 60

    Republicans constant cry that Pres. Obama’s plans are “job killing” are doing business no favor. In their fight to take from the poor and give to the rich, they themselves are killing jobs and the economy. The average citizen (middle class and poor) are the buyers in the economy. If they are continually required to bear the burden while the wealthy are given breaks, an economy unable to support business through demand will be created. The wealthy and Business need to realize that rather than support the deceptive gratifying “fix” of the Republicans which will inevitably cause them a loss, they should be supporting the ideas of Pres. Obama to raise the economy by increasing demand through the creation and retention of jobs, thereby sustaining and supporting their businesses. There’s only so long a business can depend upon corporate welfare without paying the price in either an increase in taxes or gov’t bankruptcy and a reduction of subsidies. If the business is dependent upon corporate welfare, it will soon follow the gov’t into bankruptcy. All because their greed for immediate gratification has caused them to fail to see the long term effect.

  • lesuperv

    Why is the filibuster rule abused so much under President Obama?

  • cherunda

    Back to work where? Walmarts, where the bosses are billonaires thanks to you and the employees are on welfare for just five years, and they have you to thank for that also.

  • cherunda

    He did not help the person he was elected to help, he helped her enemies, so the Republicans take him to the wood shed, because they want his power. He doesn’t have sense enough to come against her enemies and silence all of his critics.

  • zelvis

    I appreciate former President Clinton’s sentiments, but, coming out of his mouth, they ring very hollow for me. During his presidency, Clinton signed the repeal of Glass-Steagall, creating “too big to fail”. He signed on to the full GATT, resulting in our current 2% trade tariffs. He signed NAFTA, sending jobs across our border. He signed the Communications Act of 1996, which gave us Fox News. He is often credited with giving us a budget surplus, but he did so by gutting social safety nets which were not much missed at the hight of the tech bubble, but are devastating families today. And the Lewinsky scandal forced Al Gore to distance himself from his incumbent president in a close race, and gave us Dubya.
    I would love to hear Clinton address all of these issues and explain his thinking, but I fear it will never happen. Clinton did the same thing that Obama did: campaign as one kind of leader and govern as another. That is why people are in the streets. Clinton and Obama both taught us that the ballot box no longer works.

  • 2lolo

    President Clinton is Right!!! Americans Demand Change!!! Mark my words……. Soon there will be RIOTS and CIVIL UNREST!!!!
    Not a small ones but many large RIOTS….. all over America…………………..

  • Melvin Walker

    Thanks to the former President Mr. Bill Clinton, for speaking out against the debt in this country, It is a shame, that the rich people in this country have made millions of dollars, and it is unfair that the lower people and the middle class people half too keep this country running, it is so unfair that the rich people in this country, don’t want too pay their fair share of taxes, just like all the rest of us, I must say their a commercial that come on TV say that we are 50,000,000,000 Million strong, and if you think, about cutting Medic care or Medic Cade you’ve better thinks again, because when we go to the poles, our number will be seen and heard, we will not go for the rich to keep getting rich and the middle class, and lower people keep getting poorer.

  • billwalker666

    ” Those who will not make peaceful revolution possible, make violent revolution inevitable”… President John F Kennedy

  • jzamacona

    Bill clinton trumps the state of the economy when he left office, what he forgets to tell us is that his economic concepts are similar to his moral concepts. Yes, there was a surplus when he left office, but he fails to tell you that it was all smoke and mirrors, that it was through his deregulation policies that the foundation of the economic debacle was being established, that his minions like Rubin became the architects of said debacle, when they decided that easy credit should be given to minorities so we all could own a home and a new car, That his economic hero, Rubin took millions from the bank of America just to make it sink into depths never before visited by the bank.
    Clinton should be brought to task and his feet put to the fire by the ever present cheer leaders of the media. Just like his foundation, vehicles to enrich themselves, yes money has been given abroad, but has any one asked him how many hunger and homeless American children have benefited from his so called charitable foundation? Of course not;his hipocrisy has always been the bench mark of his life.

  • PluviAL

    The underlying cause is necessary globalization. The next cause is energy and other commodities. As the world is able to harness energy to create wealth they can compete with US. This is world competition. Excessive concentration of wealth is a market defect, but it is all-over the world: not just in the US. We need to get cooperation througout the world to increase market effeciency through better distribution of wealth. Our economic systems are just way too primitive. We legislate on the basis of ungrounded dogma. Real progress will result from real improvments in theory.

    So, keep pluging at it, all we can do is work with what we have. Taxes are one rough, tool to use government for mitigation of these inadequacies.

  • sobortrica

    We were betraied by our governmet in favor od wolrd economy, the top class took advantage of nit promissig a better future for everybody in the world, but the
    never mjentioned that it will only be possible may be in the ten generations, and now they take the modey and run with the profit of the desatvantged China and India
    and letting our people in US w2ith no future. They talk about trickle down economy,
    I we spend here in US and create Job in Construction and the workers are going to spend the money in China made product, the tricle ndown is in China, wake up…..
    We need to retink the whole marketing system, make sure that the products that came from abroad have in their cost the social cost included, in order to us to be able to compete, otherwise we are competen aples agains oranges,

    Wake up



    BIll Clinton signed the bill revoking Glass/Steagall. his revocation is one of big reasons for the downfall of the middle class and the enormous profits and bonuses taken by the scions of Wall Street. People forget that Bill Clinton was as bedolden to Wall Street and their excesses as George Bush. Clinton is no angel in this inequality matter !!!!!

  • stanmorris

    Ever since they voted in a republican congress, everything has been going down hill.
    It took Bush 8 years to mess this country up and you expect our new President to correct it in 4 years plus fighting congress at the same time. Get rid of the republican congres and let the President do his job.

  • rustacus21

    As a designed initiative, one can clearly see this as a manufactured crisis from the start. GWB could have been placed into a medically induced coma, w/Clinton-era policies remaining in effect & the nation’s overall, comprehensive health & wealth would have steadily increased & expanded, along w/that of the rest of the community of world’s nations. No war, no corrupt & greedy speculative investment schemes, responsible oversite of the banking & investment apperati (nationally), but most importantly, no 9/11 (since the Clinton anti-terrorism team was immediately disbanded, due to – U guessed it – COST considerations!!!)… & this is what we get when citizens lay down, falling to sleep on the job of responsibly managing THEIR Democracy. Prez. Clinton showed how this thing is done & any prez. from now on, that DOES NOT follow this model should be immediately recalled. Hello, Prez. Obama?…

  • rustacus21

    …Clinton was under siege from the moment he took office (did we just hear a collective “echo…”), til the end of that Supreme Court-installed administration, in 2008. Only lately do we see the impact of fake scandals, the “Nixon/Reagan-payback” vendettas, Conservative (Dem & Republican) obstructionisms & a corporate media enabling American stupidity on issues, policy & actions required to undo the murder of the American Middle Class, & its affect the level of effeciency afforded the Clinton administration. Prez. Clinton was forced into negotiations in many, many policy areas, but there were issues he refused to budge on, which are too numerous to recount here, but also which we should all be more than grateful! Lets not get too carried away w/this hate Clinton fest, as w/Obama as well. As a very intellectually endowed & Constitutionally astute politician, Prez Obama has many tools at his disposal – most of which he has failed to utilize, but 1)-as did Clinton, immediately shutting down tax cuts to the rich & corporations; 2)-separating himself from the Senate “fraternity.” They (Dems nor Republicans) are NOT his friends, but rather an adversarial branch, requiring him (Obama) to kick a#& & worry about kissing & making up later. He has a nation to save, where as Senators have a vaudeville act to perform for the public… There’s a world of difference between the 2 & Prez. Obama, I don’t see as yet, has distinguished between them… YET…

  • toosmarttovoteGOP

    While some kudos are in order, Mr. Clinton, acceptance of your portion of responsibility for your role in the current economic morass (i.e. deregulation and disastrous “free-trade” agreements) would have been a nice mea culpa. While your policies DID turn things around in the short term, you encouraged too many bad ideas for which we are now paying.

  • kidsarebabygoats

    Woo Hoo!

  • kidsarebabygoats

    President Obama and Vice President Clinton 2012

  • Matrix

    During Clinton’s presidency my work was great. Everybody had money to spend. Those were great years. When Bush took office things went straight down hill. We hoped when Ob was elected that he would hire everybody that did such a great job for Clinton while he was pres. It’s been almost 3 years and we wonder what happened. Evidently he didn’t. Ob doesn’t have much time left so I hope he listens to Clinton. If he doesn’t we will be looking at a new repub. pres and things will get much worst for all but the richest!

    The rights sling a good line of crap and don’t ask me why but many people will believe those lies. That will be our undoing.

  • swantrash

    Clinton is glamorized now more than ever for presiding over the nation’s resurgence post-Reagan, however few have analyzed the backstory like brilliant BBC journalist Adam Curtis. Rubin overstepped his bounds and helped wreck Indonesia and South Korea as our economic system became entrenched in “national security.” When the US economy boomed little did anyone know that it was simply China buying up our Treasury bills, productivity never increased. So goes the phantom bubble economy!! BOOM

  • rustacus21

    …would reveal what we already know: that the lack of clear understanding of Democracy is at the root of our ideological confusion & conflict. Of any president since Jimmy Carter, Clinton, coincidently, also a Democrat, tried his mightiest, but was let down. 39% participation in the 1994 mid-terms speaks directly to this point. So, not unlike President Obama, Clinton was left stranded – LITERALLY, to do what he did, nearly all on his own, w/the help of some of the most clever, innovative minds available at the time. PBS has an excellent documentary, Season 1, Episode 3, which goes into detail, the behind the scenes events, which are, no doubt, a good companion piece to “swan…” above. We give ourselves too little credit. This is ours & we should have no problem taking control of it. Our problem is our racial, cultural & class pathologies, which afflict the weaker-minded among us…

  • RaiseMoreHell

    Give me a break. “The longest and largest economic expansion in American history” was just a bubble that burst. Bill didn’t care much about inequality when he killed welfare as we know it, and pushed NAFTA after campaigning against it. He did nothing about many of our environmental problems (such as hormone disrupting chemicals, which came to light on his watch), most of which have gotten more severe. And his team of economic advisors have come back to haunt the Obama administration, trying to pull the same dead rabbit out of the hat without regard for the real limits to growth we face, and the structural destruction of the productive American economy they helped to cause. Go stick a cigar where the sun don’t shine, Bill.

  • C. Ejiasa

    For the Republican party, there is only one solution to every economic problem: tax cut. Behind this is Reagan era Lafferian supply-side economic growth theory: cut tax, the investor class invests more; the economy grows, creating abundant jobs for the working class. A Democratic President Clinton’s balanced economic policy demonstrated the fallacy of the Republic tax cut policy. Reagan-Bush, with their tax cut policy, handed him a bleeding economy. With balanced policies, Clinton turned over a sound economy and trillions of dollars of budget surplus to another Republican president (G.W.Bush), who, following in the footsteps of his Republican predecessors, predictably turned over a sick economy to the next Democratic President (Obama). In spite of the record of these opposing policy positions (Republican narrow focus on “tax cut” for all economic growth ills, and Democratic “balanced” approach), Republicans and their nascent tea party offspring continue to obstruct President Obama balanced policies to restore vitality to the sick economy he inherited from the last Republican president. Supply-siders deny or fail to see that there is no such thing as an effective one-blade scissor. Try cutting a piece of paper with a one-blade scissor. That is analogous to Republican “tax cut” policy for all economic ills. It sounds more like a particular kind of social philosophy than sound economic policy. It just does not work. Sustainable economic growth needs supply-side as well as demand-side. Those who produce need those who buy. A “free” market is important for efficient allocation of productive and consumptive resources. But there is no “free” market under the sun. Distortion is a permanent characteristic of markets. The basic source of error in Republican economic policy design is their passionate unabridged belief in “free” market. Believing it does not make it so; and basing policy on that belief is wrong-headed. This is precisely the reason the government must play a role. The proper role of government is to seek a “balanced” menu of policies to minimize market distortions and their effects on society. In the long run the market will be free and Republicans will be happy at last. Until then, the government must stay sensibly engaged to help the market along. The growing gap between rich and poor is a serious social problem that policy makers should not ignore, nor defer to the market. It is bad for the rich, and even for national security. The “Occupy Wall Street” movement is a sign of brewing mass discontent. If its root cause, the gaping gap between rich and poor, is not addressed, the dreaded “class warfare” may become a reality. That can be very destabilizing. There is another troubling trend: declining American standard of living. If businesses continue to move productive capacity to currently cheaper foreign labor markets, and to bring back their products for sale to the American consumer, sooner than later, the American consumer with low-paying service sector jobs, will not be able to sustain the level of demand necessary to keep the businesses in business. Then the current short-sighted focus on short-term profit will be seen to be wrong policy. It will be too late to correct then. There is more to business than maximum profit. A powerful argument can be made that is against share holders’ long term interest for Boards of Directors to continue their single-minded pursuit of maximum short-term profit. Board rooms need a new broad vision, in the long interest of their shareholders.

  • Truthman

    I realize this is going to seem to go off track, and back in time to many but…I believe that the Rethuglicans could have been stopped dead in their tracks and the seriously destructive policies of the Bush family – it was Bush41 who NEGOTIATED NAFTA btw…and 8 years of W could have been stopped if Clinton/Gore would have done a little more work and nailed to the forehead of Rethugs what I believe was the first salvo in the attack on the American public via the dumping of the Aids virus into the American gay gene pool…it wasn’t the Democrats who cheered on the death of gay boomers, pointing fingers of blame and going on Nightline throughout the 80’s claiming it was ‘gods punishment’…Where was the heterosexual Aids epidemic? There wasn’t one because they weren’t targeted…From a monkey in Africa…yeah, right, that’s how it happened…and the jews voluntarily boarded the trains to the camps and took turns gassing each other…There is no statute of limitations on murder…

  • annonamous

    While I voted for Bill Clinton and even thought at the time he was a good president, so much has happened sense then to change my mind !
    Bill Clinton’s creation of NAFTA sent our jobs to foreign countries . Clinton went into the presidency with a 6 figure income and came out with a 8 figure income . He is one of the 1% and part of the problem not the solution !
    That is all too telling as to why people are running for political office today ,, to become rich with life-long salaries and benefits. The whole system is set up to breed corruption so what else should we expect ! We need to change the system so it attracts patriots who really want to work for the people and uphold the Constitution ,so that we can have some equality in this country . Look at our judicial system its a joke , its corrupt to the core when judges take bribes to make laws to suit the corporations . Our government right now is a mafia run government ! What else can you call it when so much corruption exists and heads of countries are ordered to be assassinated .
    Its not just jobs that are needed in this country its a complete overhaul of our government and political system .
    I saw a TV show last night that was supose to make us all feel better because an oil baron is hiring people for jobs in ND .REALLY ? Is that the biggest problem in our country ? It might be a big problem but how did we get there ? What caused the loss of these jobs ,homes etc ? The entire system needs a do over !

  • erasmuscomfort

    It should not be difficult for any legitimate economist to follow President Clinton’s economic arguments for growth and job creation in this world’s greatest economy. Who can legitimately argue that tax increase on the wealthy, for purposes of creating funding to invest into the productive service sectors and infrastructure, does not only move idle resources from being held for ostentatious reasons to creating jobs and expanding the country’s GDP. Just think of the multiplayer effect every dollar moved from inactivity, to real investment will have on the sluggish economy. President Clinton and his former economic team are right on the question of moving the economy forward through a mix of solutions that include tax increases on the wealthy. President Obama, the Senate and the House should better be advised. The ideas being shared by President Clinton will surely accelerate the pace of growth of this economy towards prosperity and job creation.
    Dr. Erasmus Chirume

  • US Refugee

    Clinton could not have said it better, it is a cure, an equal tax on money rich or pour! That would be the fastest recovery ever!! It is that simple!! People with a lot of money, they will never like it oh, and corporations,OMG would trough a fit! Oh well, lets do it!!, it will work and we will recover fine and quickly!!

  • jimbo

    The middle class is the Economy.
    The Economy is the middle class.

  • rustacus21

    …I need RaiseMoreHell to clarify some things: being in office just 8 yrs, what was Prez. Clinton suppose to accomplish? Create the atmosphere for a vibrant economy? Make the nation secure, internally & internationally? Streamline govt & cut waste? Cut the deficit & create a surplus for the next administration? If U didn’t know it, he’s the only Prez to do all the above, in… 42 years! Which was… Johnson! Another Democrat!!! Or 2 get technical, Eisehower, in ’57, who Conservatives love to forget (could be that Nat’l Guard thing in Lil Rock, that same year, no doubt!)- What do U know? Prez. Clinton left a surplus of 86.4 billion in 2001, after paying down – NOT ‘UP’, but “DOWN”-the nation’s deficit, in successive years & would, had Al Gore fought hard enuff to wrestle any doubt from the SCT majority, posted a surplus surpassing 1 trillion by 2009. Oh, one more item – Prez. Clinton was the 1st prez. to not conduct a “war”, saving the lives of millions & billions in needless spending. As a Conservative, facts mean little to those like Mr. RaiseMoreHell, but when an administration “intentionally” bankrupts a nation – that’s called CRIMINAL! … Ideally, a Prez. is supposed to make their nation prosper – along w/other nations who embrace Democratic principles, keeping its “OWN” citizens employed, so they don’t have to migrate halfway around the globe in order find work. I call that “heroic.” And the “bubble” U mentioned – it didn’t “burst” on Clinton. That was yrs after he left offc, in fact. Come back w/accurate facts please & then we can have an “HONEST” debate, sir…

  • Theodora30

    Since some of you have posted about the lies the Republicans tell about economics (cost-free tax cuts being a big one), check out this post about the lies they have been telling about the cause of mortgage meltdown.

    The data is clear that Fannie, Freddie and the Community Reinvestment Act were not the cause but Republicans have been using their standard word games, redefining the term subprime in order to argue that they were in their usual attempts to discredit anything the government does except make war. What is really interesting is that the other Republicans on the committee investigating this were speculating in emails if the guy trying to sell this lie was being paid by outside concerns – e.g., American Enterprise Institute, Koch brothers. When are the sane members of the GOP going to show some courage and call out the lies of their party that are so damaging to this country?

  • dawnowens

    While it’s true that the Republicans and the Religious Right and Wall Street have done their share of damage to our economy, a quick reading of the above comments shows another problem; the majority of the writers are functionally illiterate. Anyone old enough to have found their way to this website should be able to read and write and spell with some semblance of accuracy, unless (and in which case I beg your pardon) English is not your native language.

    Maybe you people should consider continuing your education and lay off the Fox News version of ‘edumacation’. How do you plan on understanding the mess we’re in, if you can’t read much past the average fifth-grade level? No wonder the 1% keep pulling the wool over your eyes and stealing you blind and getting you to worry about stuff like ‘gay marriage’ and whether or not ‘God’ is on your side… you’re blinkin’ idiots.

  • Jerryjohn

    The bottom line, of which even an ex-President doesn’t want to talk about is that we’ve un-Patriotically given away most all of our manufacturing to countries that have a lower cost of living, and it most all the countries. What un-Patriotic is that we can afford to keep 50% of the manuf. here. WE CHOSE TO BE GREEDY AND RICH. Sad but true, the welfare of the one is greater than the welfare of all. Anywhere you go now our good our made mostly out of country, and if you give BA, and MA to all the people who need employment, or to the many who are unsatisfied with their new economic condition because of the greed, you still couldn’t put everyone to work, as there has to be manufacturing to a certain % in our country for all to survive, but until greed gives way, and your seeing it in other countries and the streets of our country, you going to have 1% wealth and trickdown will never work. People just have to be brave enough to see the real picture.

  • Parisvisitor

    There’s nothing wrong with inequality of income. Those who employ their talents and work hard should make more than those who don’t. If Clinton, Hollywood, George Soros and other wealthy proponents of income redistribution really believed their own words, they would share their money with those with less. No, it is the entitlement mentality that is unsustainable. “Smart government” is an oxymoron! The government didn’t stagnate with Reagan and Bush but rather was remanded to its historic role. You only have to look at Bush II’s support of crony capitalism taken to a new height of waste and corruption by the Obama administration to see the dangers of government.

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  • doane

    Worth reading:

    “We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.”
    Our Peamble is being challenged .
    If it were possible to sum up the single greatest flaw to the American form of democracy would it be :It allows for the “most powerful force in the universe”… to quote Einstein, compound interest to be used against that democracy ?
    That would be something like ”free will”, which can be used for or against the greater good.

    this possible fatal flaw to the American Democracy’s economic and monetary policy, may be ”the use of the most powerful force in the universe” …compound interest, being used by a group not for the betterment of all, rather for their own betterment only.
    When money is acquired thru interest ,it is not new money, it is merely a redistribution. A lender of any amount could lend 100% with an interest of 7.2% over a period of 10 times, and actually double its money.The lender becomes the owner of the money and based upon the act of compounding at any rate within a long period of time become the sole owners of all the money.
    The present system has to change .Private banks are lenders to the taxpayers who become borrowers.They are allowed to charge interest to taxpayers for the use of their own money.
    They are allowed to “create money” by fractionalizing money on hand and use that
    newly created money to gain more money. A cycle that commands total money control or it must bust.The real kicker is that the borrower by today’s system guarantees the lender they will not lose there money by covering any of their losses.The taxpayers are guarantors of their own servitude !
    The solution;The Federal Bank of America.
    Adam Smith’s “Invisible Hand” guided by Sheila Blair (FDIC)and Edward DeMarco (FHFA) can restore the American financial system,and put America on the road to prosperity.As a settlement to the legal actions brought against Bank of America,both the FDIC and FHFA can agreed to Bank of America’s insolvency !(11-01-11. This could read JPM Chase,or both BAC and JPMC.OR ANY AND ALL BANKS ) Bank of America is to be placed along with Freddie,Frannie and Sallie,along with the FDIC, and FHFA, and the Federal Reserve into one new agency; “The Federal Bank of America”(FB of A).The Federal Reserve will no longer be needed as its mandate will be passed on to THE FEDERAL BANK OF AMERICA.Also the FDIC and FHFA as their mandates will no longer be required.Private banks will have to get their own insurance .
    THE FEDERAL BANK OF AMERICA (FB OF A) will be a fully taxpayer owned bank.It will be operated by the people,of the people and for the people.
    THE FEDERAL BANK OF AMERICA will be the source for the American borrower to acquire funds and the interest paid shall be revenue income for the funding of their government.
    The first order of business will be securing of all deposits as allowed by the FDIC and the selling of these deposits along with all assets with the exception of any and all loans.All loans are to be retained by FB of A , as well as all offices and buildings as they will provide the brick and mortar for the new agency.
    The shortfall,the amount of money needed to restore the loans to Fair Market Value could exceed $10 trillion.This includes the most recent transactions in derivatives and other market ventures,which an audit may show that are in an amount of over $80 trillion (That’s only Bank of America’s portion)(Worldwide it is said to be more than $800 trillion).
    The Federal Bank of America will be the maker of all loans,not guarantee them for others, they will be the maker of these loans and will retain all profits.Profits which by law will be turned over to the US Treasury,as funds for Congress for government expensive’s.
    The Federal Bank of America:
    -Will no longer allow the paying of interest for the use of its own money.
    -Will not take deposits from anyone other then the US Treasury.
    -Will not be involved in any financial investment services.
    The Federal Bank of America will be the sole lender of legal tender.Any financial institution that wishes to loan American Dollars must acquire any legal tender that it may need from the Federal Bank of America,as all loans must be backed with a 100% reserve (Either dollars on hand or borrowed from the FB of A)
    The Federal Bank of America may raise or lower rates of interest to insure the quality and quantity of the American Dollar.
    The Federal Bank of America shall be funded by the US Treasury which shall as mandated by Congress request the US Mint to produce a platinum “coin” with a DOLLAR VALUE of $100 TRILLION.This value will be electronically deposited to the account of the American people into the Federal Bank of America.The actual “coin” will be placed on display next to the US CONSTITUTION.
    The board of directors shall be selected by a non-partisan vote.

    FB of A will purchase ALL residential and commercial loans outstanding at Fair Market Value.Any private lender may retain any loan it has by simply showing 100% reserve.The American people will be the lenders and no longer will they be the victims of private greed.No longer will they allow the banks that they have entrusted with their money to use that money to make profits for themselves .Profits will be made by the people,of the people, for the people. Taxpayers bailout for Taxpayers by Taxpayers paying compounded interest to Taxpayers .These loans would provide trillions of dollars as TAXPAYER PROFIT (REVENUE)! Compound interest will cause any amount to double over a certain period of time.(Rule of 72). A 4% compound yearly interest rate will double the base amount in 18 years. The taxpayers will be the direct lender and make the profit (interest).This doubling alone will provide an enormous income stream.If loans are made for $100 trillion,the incoming payments would exceed $5 trillion a year.What a magnificent way to fund a government.Pay off all old debt and never need to go in debt again because we the people would demand that there be a reserve.
    As Einstein said,“Make it simple.”
    State Banks are taxpayer owned and are for taxpayers to make and retain any profit.The Federal Reserve Bank as it stands now is a bank that is owned (shareholders) by other banks.This is the greatest banker fraud of all,and we know how Freddie and Fannie turned out.No more GSE’s.And because the Federal Reserve Bank is the bankers bank,they are using taxpayers dollars to HELP THEIR BANKS more than to help people.When the banks made federal guaranteed loans,the FEDS guaranteed the loans with taxpayer dollars.Now they are supplying the banks with almost free money.This is exactly what we the people should do-become the owners of our money,the owners of the fruits of our labors.
    The next wave of stuff that will hit the fan may be the “CRISIS in the derivatives market” if you think stuff was “too big to fail” before,join me in sleepless nights knowing the derivatives market is more than $800 trillion ! ! That’s $800,000,000,000,000 !
    Read: “Web of Debt” written by Ellen Brown ( Ellen Brown ,she turns her skills to an analysis of the Federal Reserve and “the money trust.” She shows how this private cartel has usurped the power to create money from the people themselves, and how we the people can get it back).
    Read: A state owned bank,The Bank of North Dakota makes and retains profit for its owners-the taxpayers of the state. The State Bank of ND’s Return on Investment to taxpayers was 19% this year.(Google “State owned bank THE BANK OF NORTH DAKOTA)
    Could you imagine the profit (read income revenue) The Federal Bank of the United States of America would make? Taxpayers paying interest as revenue income for the taxpayers government.

    Put the insolvent banks in receivership.
    The next set of banks that are to go into receivership by the FDIC are to have all assets that are not loans sold off.(read just in case Bank of America is “too big to fail” or read just in case JPMC and CITI refuse to sell them out.).FDIC will sell all assets ( minus loans) and keep the offices and all its branches.The renamed bank will be called “THE FEDERAL BANK OF AMERICA . It will be funded by the US TREASURY.
    The Federal Bank of AMERICA will replace the Federal Reserve and will be mandated to preserve the quantity and quality of the US Dollar and to provide Congress with funding for the general welfare,life,liberty and the pursuit of happiness
    Just like that ,we the people may just have solved our financial crisis , housing crisis,monetary crisis and started on to the path to a greater prosperity.
    THE FEDERAL BANK OF AMERICA would be the only legal tender provider for all residential and commercial real estate loans,private personal and business loans.It would have branches in every state and territory.The FB of A shall control the money supply by setting terms and conditions for the loans,thereby fulfilling their mandate to control inflation,deflation,and stagnation. .Affordable loans at low rates and longer terms ( 2011 Private loans would be at 4% for 40 years as rates will be changed depending upon economic conditions .2011 Business loans would be at 2% for 6 (six) years with no payments for the first year.)This would create at least 4 million jobs immediately and may even reduce the unemployment to under 4% within that year by creating the jobs and homes and products needed for this new prosperity that would be a result of this new monetary policy.
    The Federal Bank of AMERICA will replace the Federal Reserve and will be mandated to preserve the quantity and quality of the US Dollar and to provide Congress with funding for the general welfare,life,liberty and the pursuit of happiness
    The American Dollar will be based upon THE AMERICAN TREASURE (“ITS GOLD”) !
    That is the full faith and credit of the American people backed up by the US Constitution and all assets physical and intellectual..Americans shall and will pay all debts,foreign and domestic.The American people have tremendously more assets then the worlds gold.Why would we limit our future to only a single metal ?We have all the elements as assets that are greater and in more abundance than gold and intellectual assets that are limitless,why trade them for such a finite amount of gold,gold that is already owned by others?
    We the people will create millions of jobs with commercial loans that will insure positive growth and employment.
    We the people will have special terms and conditions for student loans that will insure the educational growth of all Americans .Extremely low rates, only used to cover losses. (read Ellen Brown”QE4- Jubelee”’ ).
    Ben Franklin,Thomas Jefferson,and many more used this method ,the lending of taxpayers money , to start the colonies on the road to financial success.Then the lender banks took it away from the people by having legislators replace the practice allowing them to make the loans (make our money) and keep the interest for themselves,and at the same time guarantee that they the lenders get paid.We the people will no longer pay interest for the use of our own money,or guarantee lenders that they will be paid interest on our money for making loans.

    To insure the funding of this great society there could be three streams of income.
    Lets use a start figure of $51 trillion in loans,that which is already in circulation.(guesstimate,hope it is more)It will go on the balance sheet as $51 trillion loan assets.This asset will double every 18 years….1 X 18 = 102 trillion,2 X 18 =204 trillion. Banks will be the only source for deposits and savings. Banks will no longer be allowed to do fractional banking .All loans will require 100% deposit backing..Banks may borrow from The Federal Bank of the United States of America and use that borrowed money for their own account for their own investing;at the prevailing rate and terms.NO MORE FREE RIDE !( Some say they may need over $200 trillion to unwind their derivatives.)
    Good-bye income taxes as they are known today.
    The Return on Investment could be $3 to $5 trillion a year.US TREASURY INCOME to be used to pay off debt,promote the general welfare .
    Good-bye income taxes as they are known today.
    2. A one line form, INCOME TAX :” 0-10-20 -25″ . Annual income of up to $75,000,pays 0% taxes .Annual income of $75,001 up to $750,000 pays 10% taxes .Annual income over $750,000 up to $2,000,000 pays 20%,and the last category ;annual income over $2,000,000 pays 25%.There will be no need for any value added tax or consumer or sales tax.
    3. A business tax.The business tax is also a one line item; ALL profit over a deduction of $100,000 per employee is taxed at 20%.

    1-FEDERAL BANK LOANS:Taxpayers people and “people”(read corporations) paying interest
    2-PERSONAL INCOME TAX: 0-10-20-25
    3-BUSINESS PROFIT TAX: Profit @ 20% minus employees X $100,000
    We the people would demand the debt be paid off ,end the possible servitude of our heirs.
    We the people would demand a balanced budget.
    We the people would demand a real monetary reserve be left in THE FB of A.
    We the people would demand the general welfare,life,liberty,pursuit of happiness

    CAUTION: They will try FEAR tactics to keep US away from our rights.Remember ,”We have nothing to fear but fear itself”
    They will use the fear producing words,”inflation, hyperinflation, stagnation”.
    You can answer with the words,”I will not be enslaved by the most powerful force in the universe because we the people can use that most powerful force for the betterment of mankind and prosperity.”
    “We the people will deal with the present possible economic sunami,one tidal wave at a time .
    We will eat this crisis -ONE BITE AT A TIME”

    -WE NEED: