While Bill Clinton is remembered for being a good president by some, many are not aware of the economic damage that was caused by his administration. But it is not all Bill Clinton’s fault. The republicans were working to get a lot of this damaging legislation through congress. Let’s look at how this administration has made its economic impact on future generations.
Most people view Clinton’s term in office as a success and they look at their own prosperity and the performance of the economy as the reason for this success. Let’s look at some major flaws in what he accomplished and discuss why we the people are paying the price for these policies even today.
1st, The North American Free Trade Agreement or NAFTA was passed under Clinton. Soon after this passed companies began relocating to Mexico. I have read estimations as high as 750,000 jobs gone as a result of NAFTA. These jobs moved to Mexico. Companies relocated in an effort to keep costs low and maximize profits. NAFTA has also allowed government-subsidized U.S. farm products into Mexico. As a result of this local farmers could not compete with the artificially low prices of crops. Many Mexican families lost their farms. They went to work in the maquiladora program. They wound up working in sub-standard conditions. U.S. companies have also degraded the Mexican environment because they don’t have the environmental regulations the US imposes on corporations. This will serve to keep costs low, but it will also destroy the environment.
2nd, Clinton also pushed for the Gramm–Leach–Bliley Act. This act served to repeal the Glass Steagal act that was passed after the great depression. The purpose of the Glass Steagle act was to put restrictions on banks so as to avoid another financial catastrophe like the great depression. One year before this law passed, Citicorp, a commercial bank holding company, merged with the insurance company Travelers Group in 1998 to form the conglomerate Citigroup. Because this merger was a violation of the Glass–Steagall Act and the Bank Holding Company Act of 1956, the Federal Reserve gave Citigroup a temporary waver in September 1998. A little less than a year later, The Gram Leach Bliley act was passed to legalize these types of mergers on a permanent basis. The law also repealed Glass–Steagall’s conflict of interest prohibitions.
This is one of the actions that lead to the financial meltdown we all went through in 2008. It led to the derivative market and the housing bubble. At one of the roots of all these problems was the Gram Leach Bliley Act. This has led to the greatest recession to ever hit America, which we have yet to recover from.
3rd Clinton also failed to act on information he had on the location of Osama bin laden. As a result of this we saw the effects as our Nation was attacked on September 11th 2001. Ever since that time we have seen an increase in the government turning America into a police state. From the TSA to the NSA it seems like the government wants absolute control over the American people.
Clinton failed to address the growing threat of Islamic terrorism. On February 26, 1993, the al Qaeda organization struck the World Trade Center for the first time. Six Palestinian and Egyptian conspirators who were responsible for the attack were tried in civil courts and were given life sentences, but its mastermind who was an Iraqi intelligence agent named Ramzi Ahmed Yousef had escaped. Yousef’s Iraqi identity indicated to U.S. authorities that the attack involved more than isolated terrorists. It involved hostile terrorist states.
On October of 1993, eighteen American servicemen were engaged in a humanitarian mission in Somalia. They were ambushed and killed while another 80 were wounded. The body of one of the dead soldiers was dragged through the streets. This was a planned act calculated to humiliate his comrades and his country. Under Clinton’s leadership, America made no military response to the unprovoked attack.
During the 1990s, one of Bill Clinton’s most frequent foreign guest to the White House was known other than Yasser Arafat, whose PLO organization also supported al Qaeda. Arafat’s allegiance to Iraq and betrayal of America during the Gulf War could not have been more known. It was all over the news. His organization celebrated and handed out candy on 9/11
4th, In the 1996 United States campaign a financial controversy erupted which alleged that the People’s Republic of China influenced the domestic American politics prior to and during the Clinton administration. There were questions of direct ties which involved the fund-raising practices of the administration itself. Brian Duffy of The Washington Post published a story stating that a United States Department of Justice investigation into the fund-raising activities of the democrats had uncovered evidence that agents of China sought to give direct contributions from foreign sources to the Democratic National Committee. This is known as Chinagate.
A Republican investigator of the controversy stated the Chinese plan targeted both presidential and congressional United States elections, while Democratic Senators said the evidence showed the Chinese targeted only congressional elections. According to the Senate report, Chinese officials eventually developed a plan to promote their interests with the United States government and to improve China’s image with the American people. The proposals were dubbed the “China Plan”. China concluded that the influence of Congress over foreign policy was more significant than it had previously thought. When formulating the so-called plan, Chinese officials acknowledged that compared to other countries, it had little knowledge of influence over policy decisions made in Congress.
The plan also suggested ways to lobby United States officials. According to the Senate report, China instructed Chinese officials in the U.S. to improve their knowledge about members of Congress and increase contacts with its members.
The journalist Richard Poe noted in 2003, “Thanks to Bill Clinton, China can now hit any city in the USA, using state-of-the-art, solid-fueled missiles with dead-accurate, computerized guidance systems and multiple warheads.” Poe explains that the Clinton administration willingly permitted China to obtain the technology necessary for this giant leap forward. According to Poe, “Federal investigators later concluded that China made off with the ‘crown jewels’ of our nuclear weapons research under Clinton’s open-door policy — probably including design specifications for suitcase nukes.”
China got its money’s worth. Clinton also led the charge to make China a member of the World Trade Organization. (WTO) China joined the WTO in 2001. Once this happened, China started to import goods on a major scale. China did not need to build a network for this. It used Wal-Mart as a way to get cheap products to America. China also keeps its currency artificially low. It manipulates its currency by illegally pegging the value of its Yuan to that of the US dollar at a rate far below market value. This gives them about a 40 cent advantage to every dollar. This is like having a tariff on goods coming from the United States.
Companies began to move Jobs over to china. In many cases these companies moved their research and development facilities there as well. The low-income wages, the lack of environmental policy and the low currency all combine to make huge profit margins for multi-national American businesses.
Big multi-national corporations are making huge profits as they rapidly accelerated their manufacturing base to China. America is losing its manufacturing base and its trade deficit has grown tremendously as a result. This has had a great effect in increasing our national debt. The less we export, the more our trade deficit goes up. This lowers our tax base. As a result the United States borrows more money. Multi-national profits are growing at a huge rate as they no longer need to worry about the environmental cost associated with building products here in America. This is why these corporations supported China’s entry into the WTO. So it is no surprise that General Electric can make 14 billion dollars in profits in one year and pay nothing in income taxes. China has now stolen thousands of our factories and millions of our jobs. This is the reason why cities like Detroit are dying.
The really big problem here is environmental neglect. 16 of the world’s dirtiest cities are located in China. China’s cancer villages reveal the dark side of their economic boom. The fact is pollution control cost corporations money. The more off shore production is shipped off to china the more pollution is created. That pollution makes its way back to the United States by way of the Jet Stream. China’s entry into the World trade Organization has resulted in the loss of 57,000 factories and over 25,000,000 jobs. The planet is being destroyed because of this lack of pollution controls that china and big business does not want to support.
However this was not entirely the fault of Bill Clinton. Clinton had a republican congress and senate that went along with this as well. NAFTA actually originated with the republicans while Ronald Reagan was in office, George Bush supported it but lacked the votes to push it through. Now Clinton goes forward with these Republican initiatives. That same republican Congress and Senate also provided support to help China become a member of the WTO as well. The reason why the economy was good under Clinton was because he worked with the republicans and lowered taxes. In addition to this the Feds pumped money into the Stock Market. Both Clinton and the republicans pursued a balanced budget. These things allowed the economy to prosper.
George W Bush
George Bush signed The Patriot Act into law. He also created The Department of Homeland Security. Under these measure Citizens lost freedoms and government organizations like TSA gain much more power over the American people. Bush won Congressional approval of widespread tax-cut bills and the Medicare prescription drug coverage program for seniors. Because of these events the economy continued to do well.
The housing market crash was caused in part by the new laws in place that required banks to give loans to people who did not qualify and by deregulation. In 2008 the housing market totally collapsed and there were reports that as much as 11 trillion in wealth was gone. As a remedy bush signs the Troubled Assets Reform Program or TARP. TARP allowed the United States Department of the Treasury to purchase or insure up to $700 billion of “troubled assets.”
While the bubble that was created under Clinton grew during the Bush administration, a great migration also took place. Jobs were moving to china at an unprecedented rate. This also had a greater impact on the housing crisis.
Bush also withdrew America’s support of the 1997 Kyoto Protocol, which was signed by President Bill Clinton and was intended to combat worldwide global warming. Bush also invaded Iraq with the goal of removing Saddam Hussein. He showed a stronger stance towards Islamic Terrorism with his War On Terror campaign. However this War On Terror that Bush waged had some very bad side effects. He did hunt for Osama Bin Laden and he had him on the run, but he also invaded Iraq looking for weapons of mass destruction. There were no weapons found in Iraq. As a result of this invasion the US troops were in Iraq from march of 2003 to the end of 2012. This is according to the Status of Forces agreement the US had with Iraq. America became a much more policed state under Bush. There were also atrocities that happened to many innocent Iraqi people. These events were exposed by Wiki Leaks.
Perhaps Obama is the worst president America has ever seen. George Bush started the Tarp program. However Obama supported the program and continued it, and even made it worse. 34 billion dollars was spent to bail out those too big to fail fat cat banks. The real cost is higher because many banks paid back the Tarp money with other funds and programs they received from the government. Obama increased spending dramatically and our debt has gone from 9 trillion to well over 17 trillion as of this writing. He expanded Tarp and signed another stimulus plan into law to the tune of 787 Billion.
Obama gave GM 80 billion dollars to help bail them out. With that money GM built 11 factories in China and they also moved their research and development facilities to china as well. Under Obama our debt with china has gone up and Obama has failed to address any of the trade issues we have with china.
If you have Netflix you can watch this movie. It is called Death By China. I highly Recommend It
Because of Obama’s policies overall many people feel that he is a Muslim. Some think he is a communist. Even though some of his policies reflect this thought I really think he is an opportunist. He is a globalist. In fact, I think Clinton and Bush are also globalist. This is why there are similarities in their policies. Obama blames Bush for the Tarp program but then Obama expands it and creates another stimulus package. He blasts Bush for the war in Iraq, yet he brings the troops home according to the outline of the status of forces agreements which were hammered out by the Bush administration before the war. He also extends the time American forces remain in Afghanistan. Obama’s terrorism policies are remarkably similar to Bush. There are a lot of similarities between Obama and Bush
What amazes me is that Americans are greatly divided on party lines and they fail to see the similarities in the most damaging polices from any of these administrations. In order for there to be a One World Government or a New World Order, America has to surrender its sovereignty to the global regime. The Sad fact is we see this happening right before our eyes through our politicians.
The real problem here is corruption. This corruption in our political system has come as a result of a nation that has turned away from God! The thing that had the greatest impact on this nation and caused it to turn away from biblical principles is a belief in the theory of evolution. It has penetrated our school system, our political system, and our laws. Now we can openly see the effects of this corruption. It is on both sides of the aisle Republican and Democrat alike. Both parties take huge donations from big business. Both parties have a globalist point of view. Both parties supported NAFTA and Trade with China. Both Parties are bought and paid for by special interests and no longer represent the majority of the American people.
In biblical prophecy concerning the last days a one world government comes into power. Eventually a ruler comes from this One World Government. He is known as the Anti-Christ. I think most globalists are ignorant of the role they play in this process. This ends with God pouring his wrath (anger) out on the world with events that are designed to bring judgement.