{"id":546387,"date":"2010-04-28T16:34:04","date_gmt":"2010-04-28T20:34:04","guid":{"rendered":"http:\/\/www.theatlantic.com\/business\/archive\/2010\/04\/president-clinton-immigration-key-to-deficit-reduction\/39652\/"},"modified":"2010-04-28T16:34:04","modified_gmt":"2010-04-28T20:34:04","slug":"president-clinton-immigration-key-to-deficit-reduction","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/546387","title":{"rendered":"President Clinton: Immigration Key to Deficit Reduction"},"content":{"rendered":"<p>President Bill Clinton spoke at the Peterson Foundation Fiscal Summit in Washington, D.C., about how he would advocate for fiscal responsibility were he running for office in 2010. His big pitch boils down to two ideas: (1) the future and (2) immigrants.<\/p>\n<p>Here were his self-transcribed (read: rough, but directionally accurate) statements.<\/p>\n<p><b>On reducing the deficit<\/b><\/p>\n<div>&#8220;The<br \/>\nend result works. Look what happened to Bill Clinton. <i>America has got<br \/>\nto get back into the future business.<\/i> We can&#8217;t do it if we keep<br \/>\nmortgaging our future to other countries &#8230; to<br \/>\nour children and grandchildren. Then I&#8217;ll tell them I&#8217;ll be careful.<br \/>\nI&#8217;ll do everything I can to help the old and the poor and we have to<br \/>\nchange the way we do health care. <\/p>\n<p>&#8220;We need more immigrants. We need to<br \/>\nreverse the age ratio. I see that<br \/>\nas part of fiscal responsibility. [Congress] need to pass something. I don&#8217;t<br \/>\nlike that Arizona bill, but I get why it happened. It&#8217;s horrible what<br \/>\nhappening along the border.&#8221;<\/p><\/div>\n<div><\/div>\n<div>&#8220;The great virtue of this<br \/>\ncountry, the thing we have over China and India is that we have somebody from everywhere here, and they do well. This country still<br \/>\nworks for immigrants. The reason there is anti-immigrant sentiment is white-collar factory workers got killed in the last decade. The burdens<br \/>\nof the last decade&#8217;s economic downturn was basically on white male high<br \/>\nschool grads, or who didn&#8217;t graduate from high school or a couple years of college, who got shivered in this<br \/>\neconomy. Their taxes can be lower if we get more taxpayers. The<br \/>\nchanges we make will be less draconian if we get more people into the system. I don&#8217;t think there&#8217;s any alternative than to increase<br \/>\nimmigration. I don&#8217;t see any kinda way out of this unless that&#8217;s part<br \/>\nof the strategy.&#8221;<\/div>\n<div><b>On Goldman Sachs&#8217; mortgage trades and the SEC suit:<\/b><\/div>\n<div>&#8220;I think the timing [of the suit] was<br \/>\nsuspect. I&#8217;m not sure they violated the law. But I<br \/>\nthink there was no underlying merit [to those trades].&#8221;<\/div>\n<div><\/div>\n<div><b>On a value-added tax:<\/b><\/div>\n<div>&#8220;You&#8217;d<br \/>\nhave to reduce other taxes to keep it progressive. It&#8217;s good for<br \/>\nexports. It doesn&#8217;t allow quite so much subsidies for imports. If we<br \/>\nhad the right sort of value-added tax and had the right adjustments to<br \/>\nkeep the progressivity, it&#8217;d be really good. I&#8217;m not sure the<br \/>\ncommission will wind up recommending it. People in Europe use it its like any<br \/>\nsales tax. People get used to pay for it. It&#8217;s good for exports.&#8221;<\/div>\n<div><\/div>\n<div><\/div>\n<div><\/div>\n<p><br clear=\"both\" style=\"clear: both;\"\/><br \/>\n<br clear=\"both\" style=\"clear: both;\"\/><br \/>\n  <a style='font-size: 10px; color: maroon;' href='http:\/\/www.pheedcontent.com\/hostedMorselClick.php?hfmm=v3:7d520a840b498b2b3f517dce6c447e1f:kMXwAVtVmvbuDYUVg8BsiZpVK%2FucDC7e51z%2F8140gZq0DHrMpk54Nj5XW79FjS8mthq34A1TIqK8'><img border='0' title='Email this Article' alt='Email this Article' src='http:\/\/images.pheedo.com\/images\/mm\/emailthis.png'\/><\/a><br \/>\n  <a style='font-size: 10px; color: maroon;' href='http:\/\/www.pheedcontent.com\/hostedMorselClick.php?hfmm=v3:e2ae3e0a14557edddd942f3a291040c6:Fio3xbztjxOBojicl2Tx7JQRvEY6EPMz1s6yNe6yDXXF72zvoiCo0IKAXk6ayQaPYnmFbJqwa9JS'><img border='0' title='Add to digg' alt='Add to digg' src='http:\/\/images.pheedo.com\/images\/mm\/digg.gif'\/><\/a><br \/>\n  <a style='font-size: 10px; color: maroon;' href='http:\/\/www.pheedcontent.com\/hostedMorselClick.php?hfmm=v3:d27b419bbbbbe2db02e5feca00f9a0fa:dpZb%2BfHAI9oxcOi2lacGEr2rcw0OKd0e7O9j35nM5tStbOTJo8u7kXWOmKwXduVWwZfPTu0QQzbm'><img border='0' title='Add to Reddit' alt='Add to Reddit' src='http:\/\/images.pheedo.com\/images\/mm\/reddit.png'\/><\/a><br \/>\n  <a style='font-size: 10px; color: maroon;' href='http:\/\/www.pheedcontent.com\/hostedMorselClick.php?hfmm=v3:cbb046514c9ea6d7ee6b5b1388f636b7:iDbSUmvSnh3J6EuI1pE5LHjk7zdmUSMVi9PNE63yUzRwyZgX5TXCE2b7EPOw4VLZLfDk6WVzm4cgKw%3D%3D'><img border='0' title='Add to Twitter' alt='Add to Twitter' src='http:\/\/images.pheedo.com\/images\/mm\/twitter.png'\/><\/a><br \/>\n  <a style='font-size: 10px; color: maroon;' href='http:\/\/www.pheedcontent.com\/hostedMorselClick.php?hfmm=v3:3cbca5807a553cbd4d2b3c1d5c6c25fb:lLAT3PQOIe521VqYo3zveyKuyC54%2FAQy1cEeFgKSK%2Fr%2FoQQAy4AomB0PvglnQQpF2m0px6PjpEyC'><img border='0' title='Add to del.icio.us' alt='Add to del.icio.us' src='http:\/\/images.pheedo.com\/images\/mm\/delicious.gif'\/><\/a><br \/>\n  <a style='font-size: 10px; color: maroon;' href='http:\/\/www.pheedcontent.com\/hostedMorselClick.php?hfmm=v3:1620477e035c3a40ee6db1b5be40a6dd:aDibxn6TbJb6fjs%2FSX1JR4PcU6QzW%2BCYzCBGxWgxdkPb5U8%2BUoHJX5P1u2SCpM4GkxUfgTEPzDydJQ%3D%3D'><img border='0' title='Add to StumbleUpon' alt='Add to StumbleUpon' src='http:\/\/images.pheedo.com\/images\/mm\/stumbleit.gif'\/><\/a><br \/>\n  <a style='font-size: 10px; color: maroon;' href='http:\/\/www.pheedcontent.com\/hostedMorselClick.php?hfmm=v3:907a59af37d1afe056b41ec776c5c7ec:INrI1VwY2ESPQrAZdM5eiSaKmoMWO9FcIpXj83tF9j7Y%2Bo0JxPmCK2eN6BcIDonnsSaBCbhbbaNUmA%3D%3D'><img border='0' title='Add to Facebook' alt='Add to Facebook' src='http:\/\/images.pheedo.com\/images\/mm\/facebook.gif'\/><\/a><br \/>\n<br clear=\"both\" style=\"clear: both;\"\/><br \/>\n<a href=\"http:\/\/ads.pheedo.com\/click.phdo?s=1264b626d8ae6a382b39047e13adbde8&#038;p=1\"><img decoding=\"async\" alt=\"\" style=\"border: 0;\" border=\"0\" src=\"http:\/\/ads.pheedo.com\/img.phdo?s=1264b626d8ae6a382b39047e13adbde8&#038;p=1\"\/><\/a><br \/>\n<img loading=\"lazy\" decoding=\"async\" alt=\"\" height=\"0\" width=\"0\" border=\"0\" style=\"display:none\" src=\"http:\/\/ib.adnxs.com\/seg?add=24595&#038;t=2\"\/><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/AtlanticBusinessChannel\/~4\/Orv6poPJzno\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Bill Clinton spoke at the Peterson Foundation Fiscal Summit in Washington, D.C., about how he would advocate for fiscal responsibility were he running for office in 2010. His big pitch boils down to two ideas: (1) the future and (2) immigrants. Here were his self-transcribed (read: rough, but directionally accurate) statements. On reducing the [&hellip;]<\/p>\n","protected":false},"author":1534,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-546387","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/546387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1534"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=546387"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/546387\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=546387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=546387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=546387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}