Tags: bill | clinton | austerity | europe | us | obama

Bill Clinton to US, Europe: Quit Bickering over Spending

Wednesday, 02 May 2012 09:17 PM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
U.S. and European politicians are squabbling over austerity measures to resolve deep-seated economic problems, but instead need to set aside entrenched views and take a longer-term approach to find real solutions, former President Bill Clinton told a financial conference.

In Europe, the key to battling its economic malaise is in taking the long view: promoting growth instead of a current plan to pare debt by cutting spending and raising taxes, Clinton told the Milken Institute Global Conference.

"The prescription of austerity continues to be pushed in the face of evidence that it won't work," said the president who held office before George W. Bush and Barack Obama. He called on leaders in both Europe and the United States to work on a strategy "of what would work in a five-year period, a 10-year period, instead of three or six months."

U.S. politicians similarly are hunkering down in ideological positions to either cut spending or tax high-wealth individuals, neither of which "has a chance of working without creating jobs."

"We're about to have a presidential race and 70 percent of what Americans will hear won't make a lick of sense as a strategy for what can actually be done to make a difference," he said.

Clinton, whose foundation works in foreign countries on health, environmental and other issues, compared the current U.S. political impasse to two meetings he attended in Brazil on whether to continue destroying the rain forest or promote alternative energy use.

"Not one person screamed at another, no one called each other names," he said. "They recognized that no one is perfect but that these were all highly intelligent individuals who had come together to solve a problem."

He chided what he called "separatists" in Washington who see government involvement in any program as "a secret plan by government to take away something from them."

"They've confused liberals and conservatives with communitarians and separatists," said Clinton, who said Silicon Valley is again creating new jobs because of what he called "creative networks of cooperation" dedicating to solving shared problems. (Reporting By Ronald Grover; Editing by Eric Walsh)

© 2014 Thomson/Reuters. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Report: NKorea Sent Commandos to Attack US Nuclear Plants in 1990s

Thursday, 18 Dec 2014 23:34 PM

Five covert commando teams were sent to the United States by North Korea in the 1990s to attack nuclear power plants and . . .

Poynter Gives Rolling Stone Rape Story 'Error of the Year' Award

Thursday, 18 Dec 2014 23:25 PM

The Poynter Institute has tagged Rolling Stone's article about an alleged rape at the University of Virginia, a story th . . .

Michael Reagan: A Threat to Hollywood Launched Dad's Political Career

Thursday, 18 Dec 2014 23:13 PM

Kim Jong-un isn't the only strongman to threaten Hollywood and win. He isn't even the most recent.
A new biography . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved