President Obama has struggled to improve the economy. More than halfway through his first-term, unemployment remains stubbornly high, income equality is growing and the fallout from housing crash remains toxic.
The Daily Ticker's Aaron Task spoke to President Bill Clinton Monday from the Clinton Global Initiative's annual meeting in New York City about why the economy is stuck in "stall speed" nearly two years after the Great Recession officially ended. (See: EXCLUSIVE: President Bill Clinton: Yes, The American Dream Is Under Assault)
To a large degree Obama is a victim of circumstance, the former President says. "The average financial crisis takes five years to get over," Clinton notes. Plus, the official government revisions have shown that when President Obama entered office, the economy was about twice as bad as everyone thought.
That's not say there are no cures for America's ailing economy.
"I think we have to flush the debt, that is accelerate our resolution to the housing andRead More »from Bill Clinton’s Advice to President Obama on Jobs: Start With Clean Energy