Former President Bill Clinton presided over one of the most robust economies in modern American history.
And while admittedly so, some of the successes may have been a result of good timing and a bit of luck, certainly his leadership abilities served to create a consensus, in particular, for which he surely had a role.
That role has more than a few people waxing nostalgic over Clintonomics, including President Obama.
To begin with, the current Congress and the president have had no luck in adopting strategies designed to unleash a massive amount of capital that’s accumulated but not being invested.
The partisan bickering has the country in a choke hold. There are some $2.2 trillion in cash and American banks that are not committed to loans.
Moreover, a couple of hundred billion has been held back for bad mortgages, but that still leaves $2 trillion that could be used in cash reserves were up to $20 trillion in loans.
So, in effect this would and could take the world, particularly the United States out of recession.
Corporations in the United States have $2 trillion more than that, and have not decided to invest it, at least in the interim, or until after the election.
The second thing that could accelerate the resolution of home mortgages, would be forced to make businesses eager to borrow, grow and for consumers to be more willing to spend. On the surface it all sounds pretty simple.
Typically, these kinds of financial crisis take about five years to get over.
What our economy is really trying to do, is to beat these are all trends by getting over this type of economic crisis much more quickly.
We cannot really do that unless we do it on a larger scale, such as with the S. and L. crisis in the mid-80s.
Next, and we’ve all heard this one before, we need to bring back manufacturing.
This country needs to focus on exports. We need to focus on green technologies. There are dozens of things we could do that would create jobs.
The first, is to continue to stabilize the housing industry and provide serious mortgage relief.
If the banks would take the position of offering people whose homes are worth less than the current mortgages, better on the homes and a loud but homeowners to write down the mortgage value to allow the homeowner to make payments on their current home, at fair market value, this would rapidly and measurably give a boost to our economy in short order.
While the market is starting to come back, it’s just not smart to keep dumping houses on the market when it still trying to climb out of the recession.
There seems to be a big problem with the thinking, on this level. The market has been so depressed, but it really has been hurting everyone. This position is hard for many to see.
As far as tax reform goes, the only fair thing to do is a version of what Bill Clinton did with individual tax reform back in the 80s.
Clinton broaden the tax base by cutting down on deductions and credits, and lowering rates. The United States is the only country in the world, but still imposes taxes on corporations for money they earn overseas.
If corporations were allowed to bring back the money for nothing, if they put people in the United States to work, this would help to increase jobs.
However of companies choose to spend revenue earned overseas on say, compensation or stock buybacks or dividends, then at that point let them pay for long-term capital gains rate.
With regard to the buffet role, if the president chooses to raise revenue, it is fair to ask those among us in higher income groups, who got the primary benefit of gross, over the last decade, to pay a bit more.
More than 40% of income grows went to the top 1% of us. That is a truly stunning statistic. The lion share of the tax cut in the United States the last decade, under President Bush’s tax cuts, benefited the wealthy among us.
The problem is, no matter how much tax we pay, it won’t get the budget in balance. Some millionaires and billionaires don’t mind paying more.
But how much is not nearly as important as having both an aggressive effort to restore gross to work on a panel long-term plan to create and sustain jobs.
We understand that if you are in the private sector, your first obligation is to your investors, followed by your customers, and finally her employees.
Your obligation is to produce a product or service is sufficient profit to keep the enterprise going, that’s a simple premise and easily understood.
However what company does have extra money, it’s a good idea to invest in the community, because it’s not only the morally right thing to do, it’s good for the companies involved.
In researching for this Oracle, I could not find a single example on the planet, of a successful in economy that runs on an antigovernment model.
All successful companies have had your public or private cooperation to generate economic opportunity, provide a good education, and create an environment where government and the private sector work together in advanced economies.
Does President Obama really have the power to improve our economy? Absolutely.
Take a look at President Reagan’s policies. A given a lot of credit for the deregulation work he did in the bipartisan resolution for the Social Security problem.
However, I also think that his tax cuts, which were very large, I might add, spurred economic growth in a way that was not sustainable.
However, it did work. When the first President Bush took office, he basically got all the downside of having a deficit spending model of generating jobs.
Recent models have not been as successful, either we have not had a theory of private sector growth, with small and medium-sized businesses uncertain about current economic theories and positions and how it may affect their businesses.
This partisan bickering cannot continue, spiteful and mean spirited campaigns, conversations and lobbyist intent on doing the bidding of billionaires, continued to keep this country in a hold pattern.
At this time Romania also immediately organized this routine event. Presidential election held in 2019 will be the determination of the fate of Romanian people in the next 10 years. Is this new president will provide education in every place, or also provide a uniform water supply throughout the region, or also provide sufficient Pensii funds for the old age of the workers.
Take your responsibility as a citizen of this country seriously and vote in the upcoming presidential election, were the policies that are more likely to get this country back on track.