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Reply #10: Clinton's terms were part of the neoliberal continuity from 1978 until today. [View All]

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JackRiddler Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-09-11 10:26 AM
Response to Reply #1
10. Clinton's terms were part of the neoliberal continuity from 1978 until today.
Supported the (further) banking deregulation (such as the Glass-Steagal repeal and the failure to regulate derivatives) that set up the frauds and disasters of the subsequent decade.

Wage stagnation since 1970s continued throughout the 1990s. Lots of talk about "new economy" prosperity (bubbles, froth, easy credit, financial arbitrage, scams) even as the median US household went nowhere and the jobs were shipped overseas.

Entered NAFTA and advanced WTO.

Didn't create a peace dividend. By end, supported new rises in military budget. Always supported the emergent "homeland security" surveillance state. Expanded prison-industrial complex to new highs = more wage suppression.

Nothing to challenge the fatally flawed, ecologically disastrous paradigms of modern capitalist economics -- including the myth of growth.

Continued war on poor with bogus "welfare reform" (forced labor at sub-minimum wage, suppressing wages across the board).

Even then, "growth" largely achieved by introducing new numbers ("hedonic deflator" and exclusion of food and fuel from CPI to suppress inflation numbers = higher GDP).

Didn't have the courage and integrity to stand up to an obsessively sex-crazed puritanical right-wing coup d'etat attempt. (Wrong: "I did not have sex with that woman." Right: "Consensual relations between adults are no one else's business. Let's talk about things that matter to the American people.")

On the other hand: Best Republican president ever!
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