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Bill Clinton: GOP 'Banking On' Bad Economy to Beat Obama

Bill Clinton: GOP 'Banking On' Bad Economy to Beat Obama

According to Bill Clinton, the GOP is “banking on” the fact that the economy has been struggling, and many of the unemployed could switch sides to a Republican candidate, or even an independent if one arises.

But Clinton – the only Democrat to win two terms in the White House since Franklin Roosevelt – told USA Today he thought President Barack Obama was in “pretty good shape,” despite the struggling economic policy.

Clinton also says he has a number of ideas that could seriously stimulate America’s economy, resulting in a boost for the President, who is currently lagging in opinion polls. They are fleshed out in his coming book, Back to Work.

Still, “[Obama] might win anyway,” said Clinton, which is certainly true. With a full year until the election and the Republican base largely disjointed because of the eight candidates, it is truly anyone’s game.

The “New Democrat” from Arkansas talked about more than the President in his book, though. He also spoke on some innovative fiscal policies and real-world solutions that, if implemented, could help the economy.

One novel idea would be to grant property tax break for investments that create jobs for painting flat tar roofs white. Clinton claims that it would save energy, cutting cost for those already struggling in a stagnant financial climate.

The former president also advises to invest the capital that many companies – and the government, to a certain degree – don’t use. Currently $2.2 trillion in U.S. banks could not all be given out as loans because of the housing crisis, but much of it could, giving people money, and the economy a big boost.

Clinton is also in favor of the “Buffet Rule,” which basically states that the richest American citizens should pay more in taxes. In a Forbes interview about a month ago, he said, “More than 40 percent of the income growth went to the top 1 percent,” but admits that having the wealthy pay more won’t balance the budget by itself. “I don’t mind paying more,” said the ex-governor.

One last strategy Clinton promotes is aimed at the private sector, which largely has neglected to utilize their assets for the greater good. He thinks that if a corporation has additional capital not required, they should create jobs, because “it’s not only the morally right thing to do, it’s good for the companies involved.”

His book comes out Nov. 8.

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