Bill Clinton Cites Economist Kenneth Rogoff For Obama’s Support

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Former President Bill Clinton added some weightage to his argument, by citing work by an economist that is often quoted by Republicans when discussing national debt, Kenneth Rogoff. While addressing a crowd of 2,000 people in Ohio, former President Clinton cited a book called This Time It's Different: Eight Centuries of Financial Folly, by Kenneth Rogoff and Carmen Reinhart.

Bill Clinton

Former President Bill Clinton added some weightage to his argument, by citing work by an economist that is often quoted by Republicans when discussing national debt, Kenneth Rogoff. While addressing a crowd of 2,000 people in Ohio, former President Clinton cited a book called This Time It's Different: Eight Centuries of Financial Folly, by Kenneth Rogoff and Carmen Reinhart. 

According to the economic metrics outlined in the book, when a nation’s debt swells to 90 percent of its gross domestic product (GDP), it takes a percentage point off of the nation’s growth per year. Clinton while addressing related a conversation he had with Rogoff who is a moderate Republican after reading the book.

 "I called him on the phone and I said, 'I read this very carefully. I just have a question. Do you believe that there's any way America could have fully recovered from that crash in four years?" Clinton said. "He said, 'Lord no.'"

At the end of his conversation Clinton said that he asked him, "Can we beat the global average of 10 years?" "He said, 'You bet we can. … But we have to do the right things,'" Clinton said. "President Obama wants to do the right things in the next four years."

That is precisely the advantage Obama has with Bill Clinton on his side. With his support Obama administration does not any new weapons to launch attacks on their opponent.

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