Bill Clinton Terrified of Coming Financial Crisis?
By Sasha Cekerevac for Investment Contrarians |
The U.S. recession and oncoming financial crisis are causing so much panic that it seems many of the old rules are being thrown out the window. In the political world, during an election year, all of the members of each party are suppose to rally together. With the U.S. recession becoming a distinct possibility again and the financial crisis spreading from Europe, even the old political lines are being crossed.
Recently, former President Bill Clinton made comments that completely contradicted several of President Obama’s positions. Clinton remarked that he was in favor of the Bush-era tax cuts for the wealthy as an additional stimulus to prevent another U.S. recession. While a spokesman for Clinton later backtracked on his remarks, the fact is that the financial crisis is causing strain along all levels of the political system.
If two of the most prominent members within the same political party can’t agree on the correct road to travel, can we really be optimistic that all of the differing politicians can come to an agreement that will benefit America for the long run? I’m not sure, but I do know that, without some changes to the fiscal situation, the financial crisis that’s about to hit American shores can certainly tip us over into an even deeper U.S. recession.
The infighting among the Democrats continued when Clinton commented on a PBS TV show, stating that President Obama should not try to stop the business class who are the job creators, as there are a lot of people trying to do their best to grow their industries. If the intra-political disagreements are occurring now, how ugly will it get between parties when a real financial crisis erupts in America? We’re dangerously close to another U.S. recession and all we’re reading about is political maneuvering by politicians on all sides. We need real leadership at this point, to stem the financial crisis and build a foundation for economic growth. Once we tip back into another U.S. recession, we will have no leeway and will be forced to make the kinds of decisions that Europe is faced with making right now.
I don’t think we should wait for a full-blown U.S. recession to occur before we come to some sort of agreement on how best to climb out of this financial crisis. The citizens of America must speak up at all political levels and to both sides of the political spectrum to tell their representatives that they need to stop bickering like children, because real Americans are being hurt. This inaction in preventing the financial crisis could be so extreme that an entire generation will be scarred for decades. We owe our children a future. To do so, politicians of all stripes need to stop acting like children and instead work together to put this financial crisis behind us.