David Axelrod Quotes
We agree with Simpson and Bowles and others who have looked at this. What's necessary is to stabilize the debt and then work from there. You can't balance the budget in the short term because to do that would be to ratchet down the economy.
Axelrod, David. Interview. State of the Union, CNN, 2011.
The Clinton budget was a very unusual one. He and Treasury Sectary Robert Rubin determined that the large deficit built up in the previous administrations and the high interest rate were competing with the private sector for investment capital. Therefore the budget raised taxes and took other steps to reduce the largest deficit then in American History. Virtually all of the Republicans saw disaster for the economy with this budget and even some of the fiscal conservatives from Clinton’s own party were opposed. The budget passed by a single vote in the House, and that started the largest economic growth period in American History. The economy became so strong that Clinton was able to produce a balanced budget, eliminate the Reagan deficit and produce more new jobs than any administration in American history. The prediction that the budget would cause the country to fail was, not only wrong, but the budget caused the nation to succeed, beyond what any thought possible. See {626772} for one of the warnings from his own party.
David M. Axelrod is an American political consultant and analyst and former White House official. He is best known for being the chief strategist for Barack Obama's presidential campaigns. After Obama's election, Axelrod was appointed as Senior Advisor to the President. He left the position in early 2011 and became the Senior Strategist for Obama's successful re-election campaign in 2012. Axelrod wrote for the Chicago Tribune, and joined CNN as Senior Political Commentator in 2015. As of December 2019, Axelrod serves as the director of the non-partisan University of Chicago Institute of Politics. His memoir is titled Believer: My Forty Years in Politics.
