President Obama, Clinton Prosperity Requires Clinton-Sized Government
There is a way for Congressional Republicans to reach an accord with Democrats that would enable the nation to avoid falling off “the fiscal cliff” into a searing recession.
Obama Democrats argue that the President only wants to restore the top rates that reigned during the Clinton presidency, which was a prosperous time. We should say: Absolutely, let’s do it. But in order to achieve a Clinton economy, you also must enact the other Clinton policies critical to the prosperity of those years: They include:
The oppressive ObamaCare of that time was HillaryCare, which was never enacted. If we want to re-create the Clinton economy, then we have to repeal ObamaCare. Are Democrats willing to do that?
The federal-regulation regime was also much easier then than it is now. Will the White House become serious about genuine deregulation?
II. Clinton-era Federal Spending Levels
Federal spending as a proportion of the economy was smaller in those days. That would mean budget cuts now of around $500 billion – not spread over ten years, but right now. How likely is that?