Crisis Legal NewsClick here to add this website to your favorites
Crisis News Search >>>

Former President Bill Clinton said Friday the U.S. government has no choice but to spend its way out of its worst economic crisis in decades.

With the U.S. economy in a recession, Clinton said President-elect Barack Obama must also shore up plummeting property values.

"The big risk now for America and the world is deflation, contraction, dropping asset prices. We have to stimulate the economy which means in the short run, he has to take America into even more debt. There is no alternative," Clinton said at a lecture organized by the Sekhar Foundation, a philanthropic group that aims to foster an understanding of different cultures.

Obama "has to put a floor under the asset values and then use the government's spending ability to trigger economic activities," Clinton said. "Then when we resume growth, we should adopt a more conservative and traditional budget policy."

The U.S. has not suffered through a prolonged bout of deflation since the Great Depression of the 1930s. Congress passed a $700 billion bailout fund for financial institutions to combat the economic crisis.

Obama, who takes office Jan. 20, has called for a massive economic recovery bill to generate 2.5 million jobs during his first two years in office.

© Crisis Legal News - All Rights Reserved.

The content contained on the web site has been prepared by Legal Crisis News
as a service to the internet community and is not intended to constitute legal advice or
a substitute for consultation with a licensed legal professional in a particular case or circumstance.
 Law Firm Web Design Information
Law Promo can construct your law firm a brand new responsive website, or help you redesign your existing site to secure your place in the mobile world. We believe our work speaks for itself by showcasing quality design while reflecting our extensive experience in the online legal marketing industry. Law Firm Website Designs by Law Promo.| Law Firm Logo Design
   Latest Crisis Legal News
   Sponsored Links
Chicago Business Law Attorney
Corporate Litigation Attorneys
Fort Lauderdale Criminal Defense Lawyer
Miami Sex Crimes Lawyer
Fort Washington Employment Law Firm
Attorney Marc E. Weinstein
Santa Ana Workers' Compensation Lawyers
Car Accidents Attorneys
New Rochelle Personal Injury
Eugene Criminal Defense
Law Office of Max J Mizejewski
Family Law. Call 541.505.9872
CPA Accounting Web Design
Finanace Office Web Designs
Lorain Elyria Divorce Lawyer
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
Cobb County Criminal Attorney
Georgia Criminal Defense Lawyer
San Francisco Trademark Lawyer
San Jose Trademark Lawyer
Eugene Chapter 7 Bankruptcy Lawyer
Oregon Chapter 7 Bankruptcy Lawyer