William Thien

Clinton’s Real Legacy

Posted on: April 16, 2013

Not to disparage a former President…but you must read this.

I became involved in a rather heated discussion online at a local news outlet this weekend over Sen. Ron Johnson’s (R) Wisconsin, decision to bring a balanced budget amendment back at the federal level. The level of animosity from the left and liberals in general towards the idea of balancing the budget was surprising. States have balanced budget amendments, why not the federal government? Then, as I became involved in the debate the liberals came out in force and began disparaging every conservative they could think of in arguments totally unrelated to the balanced budget amendment. One who went by a moniker which indicated he was an “Old Chicago” liberal claimed that under President Clinton the economy was great because of higher taxes and that President Bush Jr. racked up all the debt and “screwed up,” I believe were the words of the old Chicago liberal, screwed up the economy. I had to laugh.

The economy during the administration of President Clinton was going like gangbusters because of the burgeoning internet age. There were huge, massive numbers of jobs being created because of the expansion of the internet into households everywhere. In my book The Dream Chip, first published in March of 1998, I make the comparison to the internet age as like another industrial revolution. The economy during Clinton’s Presidency wasn’t going great because he raised taxes. Nothing could be more false. Why, because governments rarely return to the economy anything close to the entirety of the taxes they collect. That they do is a falsehood that liberals and the taxing elite would have you believe, that the government redistributes all of the money it collects. The truth is that it is usually only a fraction of collections. Why? The government needs also to pay the government, including those who collect the taxes. And the bigger government gets, the more money it needs to pay itself. It’s what in math is called a “direct proportion.”

No, Clinton’s real legacy is that he voted for NAFTA and gave China permanent Most Favored Nation (MFN) trading status. As I’ve blogged before, there was nothing more you could have done to undermine American industry than to pass those two forms of legislation or charter. It was as if Clinton himself went to the end of the American assembly line and threw the switch, shutting it down. And it was so big, it took a few years to stop rolling. That will be Clinton’s real legacy when all is said and done and people truly examine the damage that was done by NAFTA and MFN for China.

But that’s not the end of the damage the liberals are perpetrating regarding the matter. Enter George Bush Jr.,. The “Old Chicago” liberal then blamed everything, including the economy today, on Bush Jr., who came in as the economy was finally grinding to a halt, thanks to Clinton. The Old Chicago liberal said it was because Bush Jr. started two wars which we couldn’t pay for that the economy is in the condition it is in. NO, not exactly. The economy is in the straits it is in because of Clinton and his ratifying NAFTA and giving China MFN. Much of the debt we have is because of the wars. There is a significant difference. We won’t be able to fix many of the problems with the economy unless we realize the difference. The real problem is that the “Old From Wherever” liberals are not able to make that distinction and are foisting it on the public constantly while simultaneously socializing the entire country to a level at which the country cannot afford.

No, Clinton’s real legacy will be that he halted much of American industry in a few short years, seemingly for good. That, ladies and gentlemen, is Clinton’s real legacy.

Copyright © William Thien 2013

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3 Responses to "Clinton’s Real Legacy"

Yes, sir!
But along with pushing NAFTA and MFN, don’t forget his full and aggressive sanctioning of GATT, which basically was a blanket-approval of the WTO’s new charter to ‘peon-ize’ developing nations’ labor markets, ensuring that American workers would effectively be competing in their own native work envirornment against foreign workers making a dollar or two per-hr worldwide.
That was the engine behind that ‘giant sucking sound’ H.Ross Perot presciently called the sound of American jobs going overseas; boy was he right on that one.

That’s an excellent observation on your part.

Reblogged this on William Thien and commented:

Tomorrow at the dedication of the George Bush Jr. library all of the living presidents will be there for the ceremony. I think it will be a fine time for George Bush Jr. to shake Bill Clinton’s hand and look him in the eye knowing that it was not George Bush Jr. that created the financial condition the country is currently in but it was the handiwork of Bill Clinton who signed NAFTA and gave China Most Favored Nation (MFN) trading status, something he made permanent. And as Ross Perot said, it was going to create a “giant sucking sound” as jobs left the country if those two actions were taken. Since then the Democrats have been blaming George Bush Jr. for the condition of the country and the media has bought it like a cheap suit and consequently, so has the American public. Though the country has a substantial debt, a large portion of it due to the wars we have recently been in which can be attributed to George Bush Jr., the condition of the country’s industry has more to do with the fact that Bill Clinton signed NAFTA and gave China MFN, there can be no question. But the Dems have make a concerted and effective effort to make it appear that the condition of American industry is due to the debt and the two issues, the debt and the condition of industry are unrelated. So George Bush Jr. should look Bill Clinton in the eyes tomorrow knowing the real condition of American industry has nothing to do with the wars.

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