Tuesday, November 1, 2011

U.S. Income Inequality Is 'Unsustainable,' Says Bill Clinton | National Memo | Breaking News, Smart Politics

U.S. Income Inequality Is 'Unsustainable,' Says Bill Clinton | National Memo
by Joe Conason
"The solution, he said, is not to scapegoat illegal immigrants or to pretend that government, taxes, and regulations are the problem. As the president who oversaw a period of prosperity, productivity, and innovation, Clinton emphasized the difference between "invest-and-grow economics and trickle-down economics." It is that philosophical difference, rather than particular policies, which remains salient for American voters today.

"We cannot sustain this level of inequality," warned Clinton. "And there is not a single example of a successful economy in the world that is pursuing a militant anti-government philosophy." Looking back on his record as president, he said, "I was proud of many things -- but proudest that after eight years, confidence had gone up in government again." The question that haunts the Obama administration -- and a Congress whose survey ratings are even lower -- is how and whether that confidence can be restored once more."

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