Romney would be “calamitous” for the country and the worldon June 5th, 2012 at 12:39 am
That’s according to former President Bill Clinton. Calamitous. Clinton went on to say that, ” the politics is wrong on the Republican side, the economics are crazy.”
Why would President Clinton be moved to make such forceful statements? If you’ve been following events around the world you know that the economies in Europe are in free fall, economic growth is zero and unemployment is much higher than in America. The reason for this is that these countries have chosen the Herbert Hoover idea of austerity and fiscal restraint to solve their problems. Unfortunately, it hasn’t been working.
It’s pretty obvious why it’s failing. If governments lay people off and stop spending on things like roads and schools, then demand for goods drop off as people have less money, then businesses don’t expand because there is no demand. You get the picture. President Clinton knows that this is the wrong policy and that it will lead to more economic pain and misery.
Clinton went on to say that Mitt Romney and the Republican Party have “adopted” the failed economic policies of the Europeans, “austerity and unemployment now, and then a long-term budget that would explode the debt when the economy recovers so the interest rates would be so high, nobody would be able to do anything.” Read more at The Hill