If she’s elected president, Hillary Clinton says she’ll appoint her husband to oversee the economy.
During a speech in Kentucky Sunday she referred to “my husband, who I will put in charge of revitalizing the economy ’cause he knows what he’s doing.”
During Clinton’s eight years as president, the U.S. economy experienced what is called a “bubble”, which both Clintons try to sell to the public as a result of their economic policy. The rapid growth of the Internet during his eight years in office greatly increased business productivity and profits and helped to fuel the hiring boom. Internet stocks poured money into the tech sector and created a need for jobs. The economy boomed because we were entering a new era, it had very little to do with Bill Clinton.
But there are critics on both the right and the left who argue that Clinton’s policies laid the groundwork for the economic problems that were to follow.
Many regulations were eliminated during Clinton’s administration that had previously prevented commercial banks from moving into investment banking and insurance, which had been handled by Wall Street firms. Some critics have blamed the loss of those protections for the financial market’s meltdown and the need to bail out banks that occurred in 2008.
When confronted by the long term damage these policies had on the economy, both Bill and Hillary seem to have a habit of laughing and quickly changing the subject.