Well, whether you like her or not, Hillary Clinton seems to be the one Democratic Presidential nominee rising above everyone else on that ticket. Today, she discussed an economic vision that she believes would achieve the “defining economic challenge of our life” of lifting middle-class wages.
First, she pointed out that the marketplace is far too obsessed with second-to-second stock trading and quarterly earnings reports. Apparently she was dropping a lot of political knowledge, but was not really going into detail on the policy specifics. Hillary did, however, perhaps accidentally criticize the current administration for not prosecuting individuals for banking crimes in the aftermath of the 2008 economic downturn.
“For 35 years, Republicans have argued that if we give more wealth to those at the top by cutting their taxes and letting big corporations write their own rules, it will trickle down — it will trickle down to everyone else,” Clinton said. “Under President Clinton — I like the sound of that — America saw the longest peace-time expansion in our history,” Clinton said. “Nearly 23 million jobs, a balanced budget and a surplus for the future. And most importantly, incomes rose across the board, not just for those already at the top.”
Hillary did end up giving out some praise to Obama. She said two Democratic presidents before — Obama and Bill Clinton — have been charged with rescuing an economy that GOP presidents left in shambles. Also spoke highly of Obama for bailing out the automotive industry and expanding access to health insurance. She had nearly 200 meetings between her policy team and a roster of outside advisers before making this speech.
But back to the economics. “While institutions have paid large fines, too often it seems that the human beings responsible get off with limited consequences, or none at all, even when they have pocketed the gains,” Clinton said about the Wall Street prosecutions. “This is wrong. On my watch, this will change.” She has a strong desire to stop excessive risks being taken on Wall Street and to also make sure the stock market works for “everyday investors,” not just the high-frequency traders.
“That’s Clintonomics: tax hikes or broken promises,” she said. “There’s no way around it.”