Wednesday, October 24, 2012
Was Big Bill Clinton a Classic Conservative?
Bill Clinton had been swept into office with the slogan, “It’s the economy stupid.” Because of the disaster that was Reganomics. That proved that Reagan’s program of reducing taxes on his Very Rich Friends did not result in them spending more money regardless of how many times Reagan and CIA Bush promised it would happen. The Rich hoarded their increase in money and did not spend, thus the Reagan Bush economy collapsed. Those economic problems assured Clinton of the presidency.
A major problem with the economy at the time was the issue of the massive Reagan Bush deficit and the problem of excessive government spending for the Industries in the Military Industrial Complex and Friends of the Republiscams. In order to address these issues, in August 1993, Clinton signed the Omnibus Budget Reconciliation Act which passed Congress without a single Republican vote. Obviously the money grubbers did not approve. Bills’s bill raised taxes on the wealthiest 1.2% of taxpayers, while cutting taxes on 15 million low-income families and making tax cuts available to 90% of small businesses. Additionally, it actually mandated that the budget be balanced over a number of years and the outrageous deficit be reduced. This was to be achieved through the implementation of spending restraints.
Clinton who was a fiscal conservative encouraged the passage of welfare reform in the Personal Responsibility and Work Opportunity Act which ended Aid to Families with Dependent Children and reduced the number of welfare programs. This received support from both political parties and the Republiscams were amazed that a Democrat would do such a thing. After all it had not been done during the previous 12 years of corrupt money loving Republiscam administrations. Of course, they had a cap on their taxes so like Alfred E. Neuman in Mad Magazine, they shrugged their shoulders and would say, “What, me worry?” When you are rich and have capped your taxes at Five percent or less, you have nothing to worry about. The Republiscam object is to get the Middle Class (The Little People) to pay for everything. Obviously, Bill was not the least bit worried about losing the Republiscam votes in any upcoming election.
One of Clinton's major policy initiatives in his first term was on the American workers economy. Clinton's economic plan included a major expansion of the existing Earned Income Tax Credit, aimed at working-class families just above the poverty line, which helped ensure that it made sense for them to work rather than seek welfare. That was a damn good idea and proved to be one of the most important and tangible progressive achievements of the Clinton years. Progressive in this case means enacting reform that was long needed and benefitted both government and the lower paid working class.
Because of his efforts to cut excessive spending, the Clinton administration had a mixed record on taxes but produced the first federal budget surpluses since President Johnson left office and Nixon started spending like a drunken sailor to keep the Vietnam war going on and on and on for six more long years. Clinton had surpluses for fiscal years 1998, 1999, 2000, and 2001, leading to a decrease in the public debt.
Clinton had one problem. No, it was not the blowjob from Monica Lewinski.
It was that he did not understand modern banking. When the Republiscams who ran Congress presented him with two potentially disastrous banking bills, he signed them not knowing how totally disastrous they could be if the Corrupt Republiscams took advantage of them during a Republiscam administration (Which they were to do in horribly corrupt fashion in the Fortunate Son Bush Presidency). Those bills were the reversal of the Glass-Steagall Act which was designed to prevent financial institutions from combining investment activities with the regular banking side of the institution. He also signed the Commodity Futures Modernization Act which legalized over-the-counter derivatives. Derivatives were needed to protect investments, but they were not designed to be used the way that the Republiscam bankers started to use them.
Both acts appeared to be innocuous, but under a corrupt presidency they proved capable of destroying the entire world economy. Of course, nobody could foresee how totally corrupt the future Fortunate Son Bush Administration would be.
For those who would question Nafta, I can only point out that the Republiscams Controlled Congress. Bill signed the bill with reasonable good intentions. It was a good program as envisioned. Under Bush it turned into a disaster, because he used it and similar treaty agreements with Asian countries to ship nearly 12 Million Manufacturing and Industrial jobs outside of the country. That transference of Jobs was totally Republiscam and it benefited their businesses.
The Middle Class and poor people did not approve the movement of their jobs out of the country. I note that once the jobs were gone and the Republiscams destroyed the economy, they then voted to not fund a jobs bill. It is almost as if they are waging war on the American Middle Class. But what do the Republiscams care. The Middle Class are just the "Little People" who are of no importance to the Republiscams.
What does that say to the Middle Class and the Poor Americans who are looking for work, any work, at any pay rate as long as they can have a job and at least provide something to support their family.
What Bush and his Republiscam crooks did using and abusing Nafta was almost as bad as the horrible things they did with the Banking Bills they sent through Congress at the same time. With Nafta they took jobs out of the country with the banking bills they destroyed the US and World economy, and now they want you to vote them back in so they can try to do even more damage.