aspen, Colorado (cnn) - former President Bill Clinton urged the faithful Obama stay White House over its commitment to increase the ceiling of the federal debt by August 2.
"It is the equivalent of the closure of the Government policy when I was President," said Clinton. "At the White House could blink." "I hope not."
Clinton made his argument in front of a large crowd at the leftist Aspen ideas Festival in Colorado Saturday. In the United States by default its payments, the country credit ratings should decrease, Clinton said, and could increase interest rates.
Growing anti-Government forces as the Tea Party are truly affect the reform of the State of health, said Clinton. "It is incredibly good policy", he admitted, "but bad economic policy."
An economic recovery will require a private health and effective Government, said Clinton.
To prove this point, the President Barack Obama and the Democrats should immediately accept previously agreed budgetary expenditures with the Republicans that would allow the Government to continue to run for six to eight months. Then, both parties should work together to reform the serious budget, which cannot be done possibly by 2 August, he added.
Republicans have done the right thing by conceding on defence reductions and reduce subsidies for ethanol, Clinton said. Still, both parties must accept several recommendations of a bipartisan commission headed by former Republican Senator Alan Simpson and former Director of the Budget Authority Clinton Erskine Bowles. Among these proposals, tax loopholes would be eliminated and reform of health insurance.
Clinton goes a step further and suggested that corporate tax rates be reduced to 25% of the current range of 35%-23%, according to the filing. Then, with the tax loopholes eliminated, revenue could reach $ 1 trillion, as indicated in the Bowles-Simpson report.
Yet, no budget plan can be transmitted without focusing on health premiums to rise in the private sector, said Clinton. Member of Republican Paul Ryan proposal is serious, he said, but it would be wrong because it accuses the Government of the rising costs of health care.
Health insurance premiums are based the cost of premiums private-industry, Clinton said. Thus, the Ryan plan could actually increase Medicare spending. Clinton "the country cannot afford to spoil this debate," said with passion. "There are many things out there that is pure Bull."
Clinton also disabled next 2012 Republican competition, praising former Governors Utah Jon Huntsman and Mitt Romney. Minnesota Congresswoman Michele Bachmann is "a much better candidate that I thought", Clinton admitted. "I am nothing does it, but it was a lot of juice and it appealed to the anti-Government crowd."
However, regardless of the Republican field, Clinton believes that Obama will be re-elected in 2012. Under the direction of Obama, Wall Street has been recovered, and the automotive industry has been registered, Clinton said. Also, manufacturing jobs have increased with the United States now to build 20% of the solar battery in the world - an increase of 2%. That could go 40% by 2014, said the former President.
Obama has also delivered on national security with the assassination of Osama bin Laden and drone activity increased in terrorist countries, said Clinton. At the Canada, he offered the laudable education and health reforms, as well as reforms of loan student allow borrowers more time to repay their debts, Clinton said.
Clinton also said that Obama was very good on the rights of homosexuals - a stone of serious stumbling block to the Clinton presidency, which created the "Don't Ask, do Tell" policy.
And, at a time when European multiculturalism is apparently omitted, Obama was able to speak for the various sectors of the U.S. population, Clinton.
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