'Clintonomics': Obama Draws on Clinton's Reagan Roots

Thursday, 14 May 2009 02:29 PM

By Jim Meyers

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Political scientist and author Dr. Jack Godwin tells Newsmax that Bill Clinton was a fiscal conservative rather than a liberal and shared many more of Ronald Reagan's views on economics than is generally believed.

Godwin, author of the new book “Clintonomics: How Bill Clinton Reengineered the Reagan Revolution,” also said that Clinton's influence can be widely felt at the Barack Obama White House.

Obama's CIA Director Leon Panetta has said Godwin's book "is a must read for those struggling to figure out the present economic crisis.”

Godwin’s basic point is that Clinton did not seek to turn back the economic policies of Ronald Reagan, dubbed “Reaganomics.” Instead, he embraced them and perfected them.

See Video: “Clintonomics” author Jack Godwin discusses Obama’s economic agenda - Click Here Now

Newsmax.TV's Kathleen Walter asked Godwin how he came to write the book.

"When I first started doing the research, I was writing only about Bill Clinton," the author responded. "My idea was to write a political biography.

"About a year and a half into the process, I started thinking that there needed to be more drama, and I thought a natural counterpoint would be Ronald Reagan's philosophy. But the more research I did, the more I found in common.

"Clintonomics is a comprehensive governing philosophy. He was a fiscal conservative, definitely, and had some other views that were moderate and some liberal. I don't think it's fair to put him on the liberal end of the spectrum."

How much are we seeing of Clinton's influence in the Obama administration? Walter asked.

"We are seeing a lot of former Clinton appointees in the administration," Godwin said.

"His wife is secretary of State. Rahm Emanuel, chief of staff, Tim Geithner, Larry Summers, and of course Leon Panetta over at CIA. So we're seeing a lot of his influence in the form of people he supervised."

Walter noted that Clinton supported a capital gains tax cut in 1997 that helped fuel the bull market in the late 1990s, while Obama proposes to raise the tax rate on dividends and capital gains, and asked what this will mean for Americans.

"The tax issue is interesting because whether you are for it or against it, raising taxes that is, depends on what you think is our most important problem.

"If you are against tax increases at any time, definitely you should be out there protesting.

"But if you think unemployment is a bigger problem, if you think slow growth is our biggest problem, then I think you can explore a variety of remedies. Raising taxes on one income level, cutting them on another income level, is a fair policy to be thinking about and possibly implementing."

The fiscal crisis and the election of a Democrat as president has brought Clinton's economic policies to the forefront of the political debate, observed Walter, who asked Godwin how this changes Clinton and Reagan's legacies.

"That's an interesting question because I struggled with that basically for the whole time I was writing the book," he said.

"I started the book in August 2005, and really no one was interested in economic policy anymore. Foreign policy was fascinating to everybody and it seemed that that was going to go on indefinitely.

"I handed in the manuscript to AMACOM [Books] in August 2008, almost exactly three years later, and that was still a month before the financial crisis. So I think the legacy is this: It's very important for the president to be a practicing economist, whether it's a Republican or a Democrat.

"I think that was something Reagan and Clinton definitely shared, and I think it's important that all future presidents have a good understanding of economics so they don't have to rely entirely on the expertise of their advisers."

Godwin added: "One of the things that really struck me about the commonality is when Reagan was talking about welfare reform, which he did not accomplish during his presidency. But he did say welfare reform is the greatest test of federalism that we could possibly have. Reagan really believed strongly in federalism. It was very important to him.

"In this sense, when Clinton signed the welfare reform act he passed the greatest test of federalism that Ronald Reagan himself described."

See Video: “Clintonomics” author Jack Godwin discusses Obama’s economic agenda - Click Here Now

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  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:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Rep. Steve King: House Will Approve Border Funding Bill

Thursday, 31 Jul 2014 22:54 PM

Rep. Steve King said on Thursday that he believed House Republicans would approve legislation to pay for the immigration . . .

Homeland Security Report: Border Children Transmitting Diseases

Thursday, 31 Jul 2014 22:36 PM

An alarming Homeland Security inspector general memo says some of the migrant children who've poured across the southern . . .

Cuomo Retains Defense Counsel as Corruption Probe Widens

Thursday, 31 Jul 2014 22:19 PM

A criminal defense attorney says he's been retained by the office of New York Gov. Andrew Cuomo as a federal prosecutor  . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

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