Obama vs Clinton – Inside Out on the Economy!
The New York Times (7/3, A3, Calmes) reports, “Not since the first years of the Clinton administration has a White House had to debate whether to give precedence to stimulating the economy or reducing budget deficits. Now, as the recovery shows signs of faltering, that debate is playing out within the Obama administration, with a twist compared to the 1990s: the economic and political teams have switched sides.” While Clinton’s “political advisers favored more spending and tax cuts coming out of the recession of the early 1990s and his economic team pushed to start reducing deficits, in President Obama’s circle the opposite is true. Political advisers are channeling the widespread public anger at deficits while the economic team argues that the government should further spur the economy to avert another recession.” The Hill (7/2, Nagesh) reports President Obama “announced 66 Recovery Act projects Friday aimed at expanding broadband Internet access and public computing centers in underserved communities at a cost of $795 million.”