July 1, 2011

Bill Clinton and the fine art of Status Quo

Bill Clinton has some advice for regarding fixing the deficit: DON'T.
Former President Bill Clinton said U.S. policymakers shouldn't slash spending or boost taxes until the economy has more time to mend.

“I don’t like the deficit,” Clinton told Bloomberg Television’s Al Hunt in an interview today in Chicago. “But you can’t balance the budget in a busted economy.”

Clinton said he would suggest waiting two years before implementing the kind of deficit-reduction proposals envisioned by President Barack Obama’s fiscal commission.

“I think it’s crazy for us to be talking about doing this right now,” he said. “I don’t think it’s healthy to have big tax cuts or big tax increases or big spending cuts right now. We need to put America back to work first.”
Pure head-in-the-sand liberalism. Not only does he not think it's important enough to fix, he doesn't see the connections. For the economy to roar back, business has to engage. For business to engage, it has to be less burdened by regulation and by taxation. To be less burdened they have to be taxed less. For them to be taxed less the government needs to give up revenue. In order to give up revenue they have to reduce spending.  Now is the perfect time to cut government costs.  If you follow that chain backwards, that's exactly where it has to start.

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