ED MORRISSEY: Clinton’s Spending Cuts—Not His Tax Hikes—Worked

By at December 7, 2012 | 12:35 am | Print

ED MORRISSEY: Clinton’s Spending Cuts—Not His Tax Hikes—Worked

By EDWARD MORRISSEY, The Fiscal Times, December 5, 2012 –

Seems like everywhere we look, we see rising nostalgia for the Clinton Era.  Perhaps that’s nowhere more evident than in the sudden burst of popular support for Hillary Clinton, who will step down as Secretary of State within the next few weeks.

A new poll from the Washington Post and ABC News show 57 percent of respondents would favorably view a presidential bid from the former First Lady and Senator.  Even a few Republicans have Clinton nostalgia, with 23 percent supportive of a potential Hillary Clinton candidacy, if not for a Clinton victory.

We’re also seeing Clinton nostalgia in a more concrete sense as we barrel towards the fiscal cliff, which both parties set up in two previous rounds of negotiations over spending and tax policies.  Hearkening back to gauzy memories of prosperity in the late 1990s, Democrats have argued in the last few months that a return to Clinton-era tax rates won’t hurt the economy.

That isn’t exactly a new argument, but it is one that Democrats have used more frequently as Republicans argue that tax hikes will damage the currently stagnant economy and already-anemic job creation.  Bill Clinton raised taxes and the economy grew in the late 1990s – so why not do the same thing again?

via Clinton’s Spending Cuts—Not His Tax Hikes—Worked.


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