My advice to President Obama: Announce that if he is reelected he will appoint former President Bill Clinton as interim Treasury secretary or an equivalent role, for a limited tenure, beginning the day after the election, to advance a bipartisan plan to create large-scale new jobs, restore budget soundness, avoid falling off the "fiscal cliff," prevent new credit rating downgrades, inspire new credit rating upgrades, and set the stage for the next Morning in America early in the president's second term.
I dedicate this column to my kindergarten teacher. Her name was Mrs. Kennedy (honest). Every day she inspired the boys and girls in her class by repeating, as her personal mantra, "It can be done." You bet it can.
If President Obama were to announce the bold move of bringing Bill Clinton into the center of the arena of economic policymaking, here is what happens with this venture that our economy desperately needs, a large majority of a grateful nation would cheer and historians would still be applauding a century from now:
CEO confidence, worker confidence, investor confidence, public confidence, voter confidence and global economic confidence would rise instantly, simultaneously and substantially. The "right track" number in opinion polling would rise with an upward trajectory that would ultimately soar off the charts. The electoral prospects of President Obama and Democrats would climb, possibly decisively, with a campaign that would become a mission and an election that would bring a mandate.
Today the economic pain in the nation is real, but for many Americans there has been an economic recovery. America has come a long way since Obama took office. We are no longer losing 700,000 jobs a month. For this the president deserves credit. You bet he does. Anyone who claims America is not better off than the days of 700,000 lost jobs a month, and the global economic meltdown of 2008, is committing political dishonesty or media malpractice. But:
For many Americans there remains profound economic hardship. For them there is a new great depression. For them the nation is in a slowdown without end. For them the gridlock in Washington is sickening, nauseating and depressing. For them the ugly politics of the nation are a metastasizing tumor that destroys the body politic, imposes pain in their lives and continues a crash of confidence that engulfs virtually every major institution of American civic, economic and media life.
In his acceptance speech at the Democratic convention, Obama quoted Franklin Roosevelt's call for bold persistent experimentation. Truer words were never spoken. The nature of our economic challenge is extraordinary and unique. What better way to pursue that bold persistent experimentation than remembering a high point of American history, when John Quincy Adams had left the presidency and became an important member of Congress, and asking another former president, Clinton, to re-enter the field of public service at the center of economic policy?
Both Obama extending this offer, and Clinton accepting it, would be genuine acts of Lincolnesque stature and history-changing patriotism, vision and daring. It would renew Obama as the champion of change and the presidential heir to the optimism of Roosevelt, Kennedy and Reagan. It would rewrite the rules of the campaign and lift the spirit of voters and the upward trajectory of the economy.
Mixing the metaphors of sports, Obama would be the coach who calls the plays, a la Vince Lombardi. President Clinton would be the scorer who slam-dunks the ball, a la Michael Jordan. And here is the magic that can end the gridlock: Clinton would be the referee with the approval of nearly 70 percent of the nation to validate a fair deal between both parties.
The world will be astonished and amazed by how fast our economy can grow, and how high our country can climb, when the gridlock is broken and Washington acts like America once again. It will not be easy, but it can be done.
A version of this column was originally published at The Hill.
 |
 |
|
| Obama | Romney | |
|---|---|---|
| Electoral Votes (270 to win) |
332 | 206 |
| Obama | Romney | |
|---|---|---|
| Total | 65,899,660 | 60,932,152 |
| Percent | 51.1% | 47.2% |
| Democrats* | Republicans | |
|---|---|---|
| Current Senate | 53 | 47 |
| Seats gained or lost | +2 | -2 |
| New Total | 55 | 45 |
| Democrats | Republicans | |
|---|---|---|
| Seats won | 201 | 234 |
Maybe you can palette placing into a position of tremendous power the guy who championed and signed the repeal of Glass-Steagel, a reduction of capital gains rates (which set off the tech bubble), and the man who hired/shaped such Obama characters as tim geithner, rahm emmanuel, among other hucksters - but not me.
The folks who did as much (or more) over 30 years of conservative rule to set the stage for the 2008 implosion were clintonistas. And the folks on Obama's staff who whittled the needed stimulus package from the original Romer proposal to a meager portion were acolytes of or people from the clinton administration.
And we need MORE of that gang in power?!?!
No thanks.
Just because the man can get the people dancing in their pews doesn't mean he's got any value to society in an office with as much power as the Treasury.
No more bushes. No more clintons. No more GS alumni. No more of the 'ruling class' should be in these positions of influence.
Is it April 1st? Clinton oversaw (along with Congress) financial deregulation AND accelerated globalization/offshoring AND the tech bubble, which led to the housing bubble. If there is one face to put on the problems we face (besides that of Alan Greenspan) it is Clinton's.
So you really don't understand the government's role in this.
There are 3 million to 5 million jobs vacancies for people with degrees in STEMM fields.
To get a degree in a STEMM field, even from a community college, requires 90% hard work, 5% intelligence and 5% perseverance. Yet we will not get those degrees with a 50% school drop-out rate.
With a 8% unemployment rate and another 8% of under-employment rate, that suggest that 85% of Americans have good jobs utilizing their high tech skills. The unemployment rate among college grads is 4%.
For the econmic and social welfare of Americans, look at the over-filled event-stadiums be it sports, entertainment, local fairs, race tracks and casinos.
Let's stop the whining and let's stop looking to govt and President Obama for solutions. All we-individually are doing is playing the Republican game. The economy is not as bad as some on the extremes make it out to be. The stock market has recently hit a high. If that stays on course, many boomers can retire creating even more job openings for skilled young workers.
Govt (both Democrats and Republicans) could help the transition and unemployment (at no federal costs) by permitting retired / unemployed boomers the option to BUY INTO Medicare.
Besides, his economic policies were no great shakes when he was the Pres.
Four more years, no doubt!!!