Bill Clinton warns against stifling economic growth in debt ceiling deal

"The Republicans who control the House and have a lot of votes in the Senate have now decided -- having quadrupled the debt in the 12 years before I took office and doubled it after I left -- that it's all the sudden the biggest problem in the world," Clinton told young progressives in Washington.

Clinton said President Obama is right to resist Republicans who have vowed not to accept any plan that includes new revenues, be they through higher income taxes on the wealthy or closing any number of tax loopholes on businesses. He argued that the GOP philosophy over the last three decades seeking to shrink the government has contributed to a "combustible and unsustainable amount of inequality in America."

"This is not about whether you're a fiscal conservative or not, this is about what works. [Republicans'] theory won't work," he said.

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Paschendale said:

I would trust Bill Clinton. He's usually right.

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