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Former President Bill Clinton tells Newsmax that Washington should not raise taxes until the slumping economy is turned around — and says President Obama’s plan to increase taxes on the wealthy won’t solve the debt problem.
“So what I’d like to see them do is come up with a bipartisan approach, starting with the payroll tax cuts because they have the biggest return.
“Then what I’d like to see is an effort made at a bipartisan resolution of the banking home mortgage crisis.
“One of the things that President Reagan did with the Democratic Congress in the early 1980s that never gets any discussion is the way they set up this system to purge the debt overhang from the savings and loan collapse. It was unpopular but it had to be done. And as soon as we flushed it out there was a big increase in investment.
“So that’s what we need to do here with this home deal. I don’t think you can tax or cut taxes, I don’t think you can spend or not spend enough to get America back to a full employment economy until we flush that debt.
“What I would like to say to the president and Speaker Boehner is, O.K., you both have your deal. Go work it out. Meanwhile focus on putting American back to work because it just confused Americans. Americans lost the fact that whatever you feel about this millionaire surcharge, it won’t solve the problem.”
Originally posted by neo96
wont ever say anything nice about clinton
but even a broken clock is right once a day
Investors frantically bought into the hype and hope surrounding Yahoo! Inc.'s initial public offering yesterday, gobbling up shares at a breakneck pace and pushing the company's shares to more than triple its opening price of 13.
Shares surged 21 to 34 in early afternoon trading of 14.5 million shares, more than five times the 2.6 million shares offered. Yahoo! was the most active stock and biggest percentage gainer in trading, peaking at 43. The company's stock later settled and closed at 33, up 20.
"We don't have (in the United States) a lot of resentment against people who are successful. We kind of like it, Americans do. It's one of our best characteristics. If we think someone earned their money, we do not resent their success. That's why there's been very little class conflict in American history."
Originally posted by benrl
reply to post by jibeho
I think we should listen to clinton, what was the deficit when he was in office ? oh right we had a surplus...edit on 22-9-2011 by benrl because: (no reason given)