October 7, 2014

Clinton Says Economy Will Only Take 10 Years to Recover

During a campaign speech for Arkansas Senator Mark Pryor, Bill Clinton said people shouldn’t be mad at Barack Obama and the Left over the economy because these things take time. “The economy is coming back but nobody believes it yet because you don’t feel it,” Clinton said. “But remember what I said four years ago – or two years ago – in Charlotte. Financial crises take an average of 10 years to get over. We just crossed over and we’re now creating more jobs above where we were before the crash.” But Clinton’s assessment of a 10-year recovery is Pollyannaish. Dig all the way back to 2011 when CBS’s Moneywatch reported the CBO said if America’s GDP grows at a rate of 3.6%, we will have a recovery by 2017. The actual GDP is stuck somewhere just above 2%, meaning the recovery will not come – and won’t be felt – for more than 10 years, thanks to six years of progressive economic policy. More…

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