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Beware the Return of Slick Willie Clinton

Michael Busler

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Maly l2, 2014

He is trying to snooker us. Again. Bill Clinton led the nation during an economic boom, and since times were good, many Americans really like him. Still, he is far from a saint.

 

Beginning with his days as Attorney General in Arkansas through his time as governor of that state, he was constantly getting into trouble, sometimes with criminal implications. He was always able to talk and dance his way out of it. From the Whitewater scandal to his actions where he dodged the draft to his admission that he tried smoking marijuana but "didn't inhale," Slick Willie Clinton always avoided paying the price for his actions. In 1977 he was pardoned by President Carter for his potentially illegal actions concerning his draft status.

 

Perhaps his most blatant example of slickness came when he was caught committing adultery with women who worked for him. After he committed numerous counts of adultery, he was then forced to answer questions to Congress about those affairs. He lied to Congress, and as a result, was impeached by the House of Representatives. While a majority of Senators also voted to impeach him, the tally fell short of the required two thirds majority, so he stayed in office.

 

Then he snookered us. He said he did not lie to Congress. When asked if he had sex with intern Monica Lewinsky, he said "no." The reality was that he did have sexual contact with her. He said since he did not fully complete sexual intercourse, he really didn't have sex, so he did not lie. Slick Willie wiggled out again, and since many Americans liked him, they went along.

At the Democratic National Convention in 2012, Clinton said that "yes" we are better off than we were four years ago. We were not better off.

 

About 15% of the roughly 120 million households have an adult that is unemployed, under-employed or discouraged from seeking work. Almost 70 million households have seen the value of their primary investment (the home) decline in value. Almost all workers have seen stagnant wages or a decline in income. While the recession technically ended almost five years ago, the recovery has been almost non-existent. The truth is we are worse off today than we were five years ago, no matter what Slick Willie tries to say.

 

He tried to snooker us again. And then he tried to tell us that it was Bush's fault we were in this mess. Unless we re-elected Obama we would go back to worse times. Nice try.

 

The reality is that while the recession may be George Bush's, the anemic recovery is all Obama. Never in history has government Fiscal policy and Monetary policy been so expansive, and yet the results are terrible. The reason is that the economic policy that Obama put in place, while helping the bottom 15% of the population, has placed such a heavy burden on the economy that it simply cannot fully recover.

 

Picture a runner who stumbles and falls while rounding a turn on the track. Instead of trying to help him get up, Obama keeps placing additional weights on his shoulders. With the extra weight, it takes him longer and longer to start running again. From burdensome health care reform to over-regulation of key markets to the 442 tax increases that Obama has proposed, the additional weight is simply too much.

 

Now that it appears that his wife will run for President, Slick Willie will be back in the spot light with more distortions. But we are not going to fall for it this time, even if many Americans really like the guy.

 

Michael Busler, a public policy analyst, is a Professor of Finance at Richard Stockton College.

 

Once again, thank you for sending me your e-mails. I can't respond individually, but do read and consider all of them. Send your question, comment, or complaint to wendy@theprojecttorestoreamerica.com.

 

New Poll Shows Voters Agree that Addressing Long-term Debt Boosts Economic Growth, Mobility, Opportunity, Business and Consumer Confidence

 

91% of Voters Believe a Stable Fiscal Foundation will Lead to Economic Growth, and 8 in 10 Say Addressing Long-term Debt will Make Economic Mobility and Opportunity More Attainable for Everyday Americans – Peter G. Peterson Foundation

 

Bidwell comment: The Peter G. Peterson Foundation just released a poll that found the above to be true. To read the polling memo, click here. In summary, data was collected on the following areas: economic growth, mobility and opportunity, business and consumer confidence, competitiveness and investments in our future, and economic stability.

 

It's encouraging that information surfaced like the following... "83 percent of voters believe that the current level of national debt makes our economy less stable," and "83 percent agree that there will be more opportunities for everyday Americans to be successful in an economy less burdened by the national debt. Americans are united in their beliefs across socioeconomic lines, as the working/lower middle class (82%), the middle class (86%), and the upper middle class/affluent (76%) all overwhelmingly agree."

 

https://bgr.com/2014/05/07/fcc-net-neutrality-proposal-ruining-internet/ – Anonymous

 

Bidwell comment: We will get into this in more detail later in the week. For today, know that in January, the U.S. Court of Appeals for the District of Columbia struck down net neutrality laws. These laws had been in effect since 2010. We are already seeing negative consequences. Stay tuned…

 

http://us3.campaign-archive2.com/?u=9fef20342eb918a950d416bb0&id=a90e2bd816&e=8dd2b3dfdd