Thursday, October 20, 2011

Robert Reich Misleads On Clinton Era

In an article arguing against austerity, Robert Reich ironically holds the Bill Clinton presidency as a role model. Yet even setting aside the issue of the tech bubble, the Clinton era was in fact characterized by austerity, tax increases were combined with spending cuts. During the Clinton years federal spending dropped from 22.2% in 1992 to 18.2% in 2000, a much bigger drop than under any other modern President.


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