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 Michael Medved

The Real Lesson of Clintonomics

November 29, 2012 @ 12:09 pm

As Washington wrestles with budgetary crisis, no one seems willing to confront an uncomfortable question: if we're considering going back to tax rates of the Clinton era, why not simultaneously reinstate spending rates of the Clinton era?

When Slick Willy left office, the government collected 21 percent of the GDP in taxes; next year, we're projected to take in 18 percent in taxes, a relatively modest decline. But spending has increased far more sharply: from 18 percent of GDP all the way up to 23 percent. In other words, even if we go back to Clinton's higher tax rates-not just for rich people, but for everybody-we'd still face dangerous deficits if we maintained the same levels of reckless spending.

Nostalgia for the prosperous Clinton era should encourage consideration for the much lower spending that the Republican Congress of those years fought to achieve.

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Comments (69)


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  • Forrest wrote...
    Agreed!
    November 29, 2012 11:30 am
    Finally some common sense from a conservative. It's going to take both tax increases and spending cuts including entitlements and the military if we are going to balance the budget.
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  • ron prevost wrote...
    Once more, we need to return to cooperation and TRUE compromise.
    November 29, 2012 11:41 am
    Bill Clinton was successful not because of higher taxes, but because of a relatively balanced budget. And, like Newt or not, cooperation was the key.

    Above all, let's not ruin this country to make a point. Obama won the presidency, but Republicans won the House. But neither has a mandate nor the high moral ground.

    Work it out, guys.

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  • FormerMarineSgt wrote...
    @Ron
    November 29, 2012 12:21 pm
    Agreed. And the vast majority of Americans want the very thing you speak of - for these dammed idiots in Congress to stop thier seemingly never ending fight to destroy the Obama Presidency and start working TOGETHER to solve the problems this country faces. Obama may have only won the election by a few percentage points in the vote, but many, many more voters said they want BOTH sides to work together - and they want BOTH sides to stop the 'my way or no way' crap that has made this congress the most 'do nothing' Congress since the 40's. They've passed HUNDREDS fewer bills in this Congress than even the laziest Congress since then.... AND the Republicans dare to claim that the President is not doing his job when it's clear they aren't even close to doing thiers. BOTH sides need to shut the ____ up and get to work. The country is supposed to be above party and above petty personal hatreds. The Republicans need to remember that - they are in danger of becoming a worthless third party if they keep on the path they are on. And yes - regardless of what the right wing idealogues are telling you - even the democrats want to solve this deficit problem by cutting spending. It's just that thier way to do it isn't the exact same as the 'republicans want'.
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  • Drool wrote...
    Obama Won 51% of the National Vote
    November 29, 2012 2:26 pm
    Romney got 47% (how ironic). If there was a referendum on a plan (or mandate) that was it. Boehner's plan was Romney's plan. It lost.

    The Republican talking heads that were saying that Romney would get in the 330s for the electoral college and over 50% were talking landslide/mandate. Where did that meme go?

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  • FormerMarineSgt wrote...
    Gee Michael - in your haste to claim the dems are wrong -again-, you missed a few things -again-...
    November 29, 2012 12:25 pm
    The world isn't the same as it was during the Clinton era. During Clinton's time, we weren't fighting one war (and just finished a second), nor were we spending so much money to keep us safe from terrorism. So subtract that from your facts and figures and tell us how different the spending rates are - oh, and don't forget to factor in the differences in population, etc. You really need to do your full research and produce real facts instead of popping off with what sounds good to you.
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  • SeattleNative wrote...
    Spending is the main problem
    November 29, 2012 1:21 pm
    Total 2011 federal revenue: $2.3 trillion

    2012 federal spending: $3.6 trillion

    Every single tax and any other revenue source can be increased 50% and we'd still have deficit spending. Spending needs to be slashed.

    Loopholes also need to be plugged, including ones that pay refunds back to people more than they put in.

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  • gaymarriedchristianfromhollywood wrote...
    Whatever Medved. Quit feeding the idiot minions. They'll only multiply.
    November 29, 2012 2:21 pm
    Even Herbert Hoover managed to increase spending more than Obama has. Here are the facts: Fact - In 2009, the last of the GWB presidency federal spending rose by 17.9% from $2.98T to 3.52T. Check the Office of Management and Budget. In fiscal 2010 - the first budget under Obama spending fell 1.8% to $3.46T. In fiscal 2011, spending rose 4.3% to $3.6T In fiscal 2012, spending is set to rise .7% to $3.63T (according to the CBO's estimate). In fiscal 2013 - (according to the CBO) spending is scheduled to fall 1.3% to $3.58. Over Obama's four budget years, federal spending is on track to rise from $3.52T to $3.58 a measly .4%. What does this mean to you simpletons? Federal spending is rising at the slowest pace since Dwight Eisenhower ended the Korean War. Yep. Obama made it happen. You're welcome!
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  • Drool wrote...
    I'm Not Sure what is stuck in Michaels' Ears....
    November 29, 2012 2:30 pm
    ...but entitlement spending on the table for cutting along with other things per the President. The Republicans say tax levels are not. I see the intransigence right there.
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  • logical open mind wrote...
    drool-you are not following this from a reliable, non partison source. Watch Mcneil Lehr and read real clear politics on the web but first and foremost--
    November 30, 2012 9:45 am
    LEARN HOW TO READ AND PUT YOUR BONG DONE ONCE IN A WHILE!
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  • It's me! Ha ha! wrote...
    Face it Parrots
    November 29, 2012 7:59 pm
    it is your regime and your immaculated leaders that will have to come to the table and make compromises. The Repubs have plans on the tables. Your Leaders will not budge. Your regime leader Obama is answerable to NO ONE!
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  • cigarfan wrote...
    @Lord Ha ha!
    November 29, 2012 8:19 pm
    Here's what you don't realize: While I'm not a Democrat or Republican, Obama doesn't have to DO anything for the Tax cuts to Take effect on the $uper rich. How does this force Obama Ha ha? The reality is that the GOP's CORPORATE MASTERS will have republicans leaders "see the light" -and do what they are paid off to do, which is bend over. (I'm not saying Dems aren't paid off, just that Lord Ha ha! doesn't understand the situation.) TAX THE RICH!
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  • It's me! Ha ha! wrote...
    Left wing Parrots!
    November 30, 2012 4:47 am
    Do you think for ONE SECOND that your beloved regime does not anything that are not on direct orders of the Dear Leader? Your UN accountable Obama! This regime, just like you Parrots, will do anything and everything, say anything, your Dear Leader tell you to.

    You claim not to be a Useful Idiot voter yet did you vote for Mr. Romney? Or not vote or vote for re immaculation? You and like minded fools wanted 4 more years of the last 4 and you got it. To get your REVENGE on! Elections have consequences and you mindless Left wing Robots have condemned my America to 4 more years of this Obama anti-American insanity. Obama gets re immaculated and NOBODY here claims responsibility by admitting to me that they voted for the Dear Leader.

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  • gaymarriedchristianfromhollywood wrote...
    Geez, you must be a riot at Christmas parties.
    November 30, 2012 7:42 am
    This is you - "You bleepity bleep bleep, mother bleeper, idiotic, moronic, imbeciles, hate, hate, hate, anger, psychotic rambling, emotional rant, emotional rant, hate, hate, hate...my America...now vote for my side." I've voted Republican in the past, but your type makes me realize your party has gone of the deep end.
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  • HLC wrote...
    Obozo is right on track.
    November 30, 2012 10:13 am
    Dreams From My Father. I'll bet you left wing fools still haven't read it. Have someone read it to you then you'll see where he wants to take us. You should have to take an I.Q. test to vote.
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  • cigarfan wrote...
    @HLC
    December 1, 2012 2:11 pm
    Left wingers didn't vote for Obama. Democrats did. You should learn that there's more to politics than the rigged Coke/Pepsi game (Democrats/Republicans).
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  • gaymarriedchristianfromhollywood wrote...
    Yawn - I hate pity parties.
    December 1, 2012 8:51 am
    Republicans get so pissy when they don't get their way. Obama has proposed basically the same thing he ran on and WON on. Forget the Republicans. If they want to cut Medicare, let them propose the cuts. If they want to raise revenue through tax reform, let them identify the deductions or propose the cap. If they want deeper cuts in discretionary spending let them say where and how much, and if they don't like what the White House is suggesting let them come back with something. I'm glad the President is done negotiating with himself. Obama proposed 400 billion in spending cuts and if the Republicans say there is no deal without "serious" spending cuts, they need to tell Obama what spending cuts they consider as serious or negotiations go nowhere.
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