Views On Finance Reform
Hillary Clinton stands out as one of the most important politicians in the United States during the past 20 years. Currently serving as the 67th Secretary of State under President Obama, Clinton’s political career began when she was first lady during the Bill Clinton presidency, then blossomed as she served as a New York senator between 2001 and 2009. There is no question that the most important issue on America’s political agenda is economic recovery. Like most important politicians, Clinton has a strong opinion in the matter. The following outlines Hillary Clintons views on finance reform.
Hillary Clinton and the Economy
Like many liberal Democrats, Clinton’s economic reform plan focuses on increasing governmental economic regulation and expenditure. The general principle under which this recovery method operates is that precise government spending measures are a more effective method for stimulating economic growth than individual and corporate self interested decision making. This principle lies in stark opposition to supply-side economic theory, a founding principle for conservative economic policy.
Specifically, Hillary Clinton recently advocated a relief package for mortgage holders in order to stall foreclosures. This would include those 50-70 million Americans who do not pay income tax. She would liberalize the bankruptcy law and provide emergency assistance packages and tax rebates to those most severely effected by the housing crisis. The idea, for her, is to increase governmental spending in the short run while keeping the Bush tax cuts until the economy turns around.
Clinton is a proponent of Keynesian economics. John-Maynard Keynes proposed that short run deficit spending by a government is the most effective way to fix an economy. Governments should alternate between high spending and low taxes, and low spending and high taxes, depending on the current state of the business cycle. This spending policy was crucial for bringing the United States out of the Great Depression, and according to many economic theorists today, is what could make America prosperous again.
