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Bill Clinton’s Solution to Debt Crisis

Discussion in 'Politics, Elections & Legislation' started by mrskeet410, Jul 1, 2011.

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  1. mrskeet410

    mrskeet410 TS Member

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    Bill Clinton’s Solution to Debt Crisis. It sounds like it makes sense, and though it has some appeal, it's premised on Congress making hard decision in the future they are unwilling to make now.

    In part, more at link:

    Former President Bill Clinton sees a possible way past the bipartisan impasse over raising the debt limit: agree to cut spending AND raise taxes, but do neither until later, after the economy improves.

    “If they [the Republicans] said, look, that now is not the time for big tax increases to harm the recovery, they would be right,” Clinton told ABC News in an exclusive interview at the Clinton Global Initiative America conference in Chicago. “But it’s also right to say that now’s not the time for big spending cuts.

    “What I’d like to see them do is agree on the outlines of a 10-year plan and agree not to start either the revenue hikes or the spending cuts until we’ve got this recovery underway,” Clinton added. “The confidence that the Republicans say would be given to investors with a budget plan, they’d get whether we started this year or next year or the year after that, for that matter.”

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    But....but....maybe a recession isn't the right time to be cutting spending or raising taxes. But with Congress will any time be the right time?
     
  2. mrskeet410

    mrskeet410 TS Member

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    ABC interview with Clinton.
     
  3. mrskeet410

    mrskeet410 TS Member

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    See excerpt above.
     
  4. John Galt

    John Galt TS Member

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    Mrs. Keet, do you always carry on conversations with yourself?
     
  5. reddottm1

    reddottm1 Member

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    If everone would stop buying on credit including our gov. wouldn't this solve a lot of problems. If you don't have the money do not buy, you will be a lot better off.
     
  6. cnsane

    cnsane Member

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    red dot's financial accumen is fully supported by everyone who ever paid cash in full for their first home. Simple answers to complex problems are always the best course of action. Take zero tolerance policies as another example.
     
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