Clinton Says Economy 'Isn't Working for Everybody'
By Karl Vick
CITY OF COMMERCE, Calif., Jan. 11 -- Sen. Hillary Clinton on Friday brought the slumping economy into the center of her presidential campaign, proposing a $70 billion stimulus package aimed at forestalling a recession by suspending foreclosures on subprime home loans and helping millions of households pay heating bills.
In a speech laced with facts but premised on emotion, Clinton said the proposal was rooted in the experience of voters, whose economic concerns have become the focus of her campaign since her come-from-behind victory in New Hampshire Tuesday.
"I hear all of the voices of America. And one particular question that I hear a lot about today is: What's happening with the economy? Where are we?" the New York Democrat told a handpicked crowd at an electrical union training facility in this Los Angeles County municipality.
"You know, this economy may be working for some people, but it sure isn't working for everybody. And part of what we've got to decide is whether we're just going to allow this economy to slip into recession."
Clinton said she would inject federal money into an economy shaken by defaults of high-risk, sub-prime loans. Her proposal calls for $30 billion to states and localities, $25 billion to help 37 million families pay heating bills, $10 billion to extend unemployment insurance and $5 billion to encourage energy efficient technologies.
"You know, the economists can argue about it," Clinton said of whether the country is headed for a recession. "Some say, yes, it's going there. Some say, not yet. Some say, oh, no. But the statistics are one thing, the stories are something altogether different."
"It doesn't matter what you're told," Clinton said later. "It's what you feel, what you feel deep down."
The invited audience included Franz Triarte, 48, who said he just lost his job in customer service at Verizon. "Downsizing," he said he was told.
"She's facing the real issue here, the real issues that we have," said Triarte, a native of Bolivia. "It seems like we're going into recession. It's a result of how poorly the economy was handled."
Standing nearby was Billy Tostado, 42, a City of Commerce city employee who on Friday mornings is usually out painting over graffiti. But he and his co-workers -- "we're about ten strong" -- were happy to be at the Clinton event.
"Our conversations in our break room are about her," he said. "I would say she's got about 90 percent of my vote right now."
The International Brotherhood of Electrical Workers training facility highlighted the candidates' emphasis on "green collar" jobs and energy efficiency. Bank after bank of solar panels lined the roofs of the complex, which specializes in instruction on installing photovolataic.
"We're not going to make progress on a lot of these tough issues until we realize we've got to get these two oil men out of the White House," Clinton said, to the most abrupt cheer of the morning.
After the speech, Clinton had two beef tacos at the King Taco on Cesar E. Chavez Avenue in East L.A., flanked by a covey of leading California Latino pols: Los Angeles Mayor Antonio R. Villaraigosa, House Speaker Fabian Nunez, and U.S. Rep. Lucille Roybal-Allard, whose district includes the palace of scrumptiousness.
Ahead of her speech in Los Angeles, Clinton focused much of her pitch at two Las Vegas events Thursday on kitchen-table, bread-and-butter issues. She trumpeted her plan for a 90-day moratorium on foreclosures and a five-year freeze in interest rates on adjustable rate mortgages, a key issue in Las Vegas -- home to the highest foreclosure rate in the nation's subprime lending crisis.
Posted at 8:18 PM ET on Jan 11, 2008
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Posted by: CvilleBoy | January 15, 2008 5:50 PM | Report abuse
As Paul Krugman writes today in The New York Times:
"On the Democratic side, John Edwards, although never the front-runner, has been driving his party's policy agenda. He's done it again on economic stimulus: last month, before the economic consensus turned as negative as it now has, he proposed a stimulus package including aid to unemployed workers, aid to cash-strapped state and local governments, public investment in alternative energy, and other measures." And as Christopher Hayes writes in The Nation:
"The fact remains that the Edwards campaign has set the domestic policy agenda for the entire field. He was the first with a bold universal health care plan, the first with an ambitious climate change proposal that called for cap-and-trade, and the leader on reforming predatory lending practices and raising the minimum wage to a level where it regains its lost purchasing power." In this campaign, John Edwards has led the other candidates in standing up for progressive change.
As Ezra Klein writes in The American Prospect:
"Much more so than Obama, it was Edwards who forced a new style of politics, untethered by the fear and timidity of the 90s, adamant that liberalism was an electoral boon and economic justice a popular sentiment. Knowing they had to defend against his challenge, both Hillary and Obama edged closer to his appeal.
"It left the Democrats in a much stronger position overall, and forced them to argue for, and commit to, a much broader and more inspiring agenda than we otherwise might have seen." In this campaign, the other candidates have followed John's lead in talking about the special interests -- but the special interests understand the difference between rhetoric and reality. That's why corporate lobbyists are united against John Edwards.
As Kevin Drawbaugh reports for Reuters:
"Ask corporate lobbyists which presidential contender is most feared by their clients and the answer is almost always the same -- Democrat John Edwards. One business lobbyist said an Edwards presidency would be a 'disaster' for his well-heeled industrialist clients.
'I think Hillary is approachable. She knows where a lot of her funding has come from to be blunt,' said Greg Valliere, chief political strategist at Stanford Group Co., a market and policy analysis group."
Posted by: maxwell340 | January 14, 2008 11:55 PM | Report abuse
Mrs Clinton had 8 years to create the 200,000 jobs in upstate NY that she promised as part of her campaign in 2000. They are nowhere to be seen.
And now, she's proposing big government hand-outs. Rather than using her so-called experience to help people help themselves, she's now playing the hero with my hard-earned tax dollars.
Don't let her buy your vote, after the election she will forget all about you just like she forgot all about upstate NY.
Posted by: wontvotehillary | January 14, 2008 8:59 AM | Report abuse
WE all know that it will be very hard for a black man or a woman to get enough votes in the general election to be the US next prsident. So, instead of fighting each other and wasting lots of money and energies, Hillary and Obama should endorse John Edward, because he is the only one who could get many votes from Repubicans Independents, Whites and Minorities... And of course, all Democrats will vote for him. Obama and Hillary, if you really care about the American people and the Democratic Party, then please do the right thing. This country can not afford another 8 yrs under the rule of War Lovers...
Posted by: andybui_cali | January 13, 2008 11:31 PM | Report abuse
Clinton focuses on economy in Presidential race Obama focuses on RACE!LETS ALL CONTINUE TO DO THE JOB THE MEDIA FAILED TO DO, EDUCATING VOTERS AND NOT PUSHING AN INEXPERIENCED RACIST DOWN OUR THROATS!!! IN A TIME OF WAR AND PENDING WAR AMERICA WOULD BE FOOLISH TO THROW SUPPORT BEHIND OBAMA...IT WOULD BE THE LAST FALL OF THE US. WE CANT AFFORD TO GIVE HIM 4 YEARS ON THE JOB TRAINING SEE HOW THAT WORKED OUT WITH BUSH!!! SENATOR CLINTON IS THE BEST CHANCE WE HAVE TO START HEALING IMMEDIATELY! SEND OPRAHBAMA BACK TO ILL TO GET SOME EXPERIENCE AND SOMEONE NEEDS TO TELL MICHELL OBAMA TO SHUT UP!!! WHITES AND HISPANICS ARE EXTREMELY SICK AND TIRED OF HER RACIAL REMARKS!!!! WHAT A POOR EXCUSE TO BE FIRST LADY, SHE NEEDS TO LEARN TO BE A LADY FIRST! ALL AMERCIA NEEDS HELP NOT JUST BLACK FOLKS OBAMA!!!!
Posted by: dyck21005 | January 13, 2008 9:03 AM | Report abuse
Senator Clinton is right.
This election revolves around one central issue:
Will voters make their decision based on competence, or will they let Karl Rove make it and choose Obama?
America can't afford to elect any more "empty suits".
A vote for Obama is a vote for John McCain.
Posted by: svreader | January 12, 2008 9:35 PM | Report abuse
Xu Beiren AKA Norman Hsu says that with $70 billion you get whole lotta eggloll.
Posted by: sawargos | January 12, 2008 2:32 PM | Report abuse
When has the economy worked for everyone?
It works all the time for those on welfare. They can't lose their jobs because they don't have them.
It didn't work for everyone from 1992 to 2000, did it?
Posted by: dwbalessr | January 12, 2008 2:18 PM | Report abuse
Where has the canidate with all the experience been for the past 18 months
Posted by: popschee | January 12, 2008 1:37 PM | Report abuse
"...and stop this crap about new job creation, when most of them are low paying"
If this were true, the average wage for working Americans would be declining, but it isn't. Please try to get your information from someone other than Lou Dobbs!
Posted by: RealChoices | January 12, 2008 8:52 AM | Report abuse
Clinton Says Economy 'Isn't Working for Everybody', - well wonder where she heard that campaign line?! How about getting rid of some of the Problem, instead of indirectly supporting the problem instigators, like the international central banks, military corporations, phamaceuticals, give tax breaks to the $rich, etc. - How about stopping the export of $Good Paying jobs; and stop this crap about new job creation, when most of them are low paying - make-the-rich richer, no benefit poverty positions!? Oh well, We All Need REAL "Change", and that Idea originated with Mr. Obama!! Come on People, this U.S.A. is suppose to be for YOU (the People), not the special interests International Corps & Banking One-Worlders; whom are against Our U.S. CONSTITUTION. Patriots Unite!
Posted by: jward52 | January 12, 2008 8:33 AM | Report abuse
For a complete presntation of Hillary's economic stimulis package go to,
www.HillaryClinton.com and click Blog, scroll down a couple of articles.
Enjoy!!
Posted by: Art4K4 | January 12, 2008 8:17 AM | Report abuse
Hillary did get out in front of her rivals with a well organized and detailied ecnomic stimulus plan which focused on the housing crisis and added possible tax releeiffor low income famioles who are unemployed.
As Nancy Peloisi, other Democrats and Republicans and the Bush administraion have been discussing a possible bipartisan effort to introduce economic stimulus plans, aspects of Hillary's proposals will probably be considered by Congress in the days ahead.
I see Hilaries actions as good economics and good politics.
As a booster, I say Go Hillary!!
Posted by: Art4K4 | January 12, 2008 7:44 AM | Report abuse
"Hand picked crowd", how were they hand picked?
Elite democrats need to be very careful in listening to this corporate media.
Hussain Obama will be subjected the same once corporate media get their candidate. Hussain's father, mother, and four fathers & their drug use will be all over the place
Hussain's Chicago apartment and how many girls in that neighborhood used to visit him there before he went to Harvard will be mentioned in every article.
Elite democrats need to wake up while there is time
Posted by: SeedofChange | January 12, 2008 7:32 AM | Report abuse
The speed and degree to which the Clintons shift gears is pretty incredible to watch. Voters seemed to take to the listening, softer Hillary in NH so now her theme is not her experience, nor her tenacity and toughness that will supposedly help her stare down the right wing smear machine, and not even change. Now it's the fact that she's started "hearing the voices of the American people" (as she found her "voice" in NH), which is the reason why she wants to make change to help the ordinary people. It's total BS, of course -- during the Presidency that she wants to use both ways (Give me the 8 years of experience to add to the lawyerly work and the stuff I did on the Board of Wal Mart, but distance myself as I become a change agent) the gap between the richest 1% and the rest of the country widened. Still, it's quite a brilliant strategy.
Speaking of which, given the strong union presence in NV and a number of Super Tuesday states, I wonder why Obama hasn't brought up Hillary's Wal Mart past? What better way to expose her populist rhetoric (as opposed to her decidedly centrist actual policies) than to play up her work for one of the most anti-union and despicable companies (let's see her try to jibe with their healthcare policy) in America.
--------
I really do hope that the American people can show that they're smarter and better informed than this and see through their brilliant campaigning to their strident ambition. I'm cautiously optimistic, both because O is a wonderfully appealing candidate and a fundamentally good person and because I don't believe that Clintonism--especially the practice of co-opting your opponents ideas and repeating them ad nauseum in sound byte format for TV--is a viable political strategy in the blog-youtube age. The problem is that much of her base is older voters who, receiving their information through the saturating main stream media Clintonism was built for, are frankly not as informed as their younger peers. But I hope.
Posted by: glorindal | January 12, 2008 4:03 AM | Report abuse
hooray for hillary for standing up for issues important to the average american.
if i want an inspirational speech, i'll get a dvd or go to church.
i want someone to work for me. hillary for president!
Posted by: mikel1 | January 12, 2008 3:42 AM | Report abuse
Anyone who believes Hillary or some other politician can make the economy grow or create jobs is deluding themselves. The President has very little impact on macroeconomic trends, other factors such as the business cycle matter much more. However, politicians love to blather on about how they can "fix" the economy, because then they don't have to talk about things they really do control, such as our military presence in Iraq. Voters are so gullible they let the politicians get away with this baloney.
Posted by: RealChoices | January 12, 2008 2:13 AM | Report abuse
TRUMBULL, LOL!
The whole concept, of Banking De-Regulation, while they have access to our Tax Dollars, and FDIC Securities, just sounds about as smart as handing a Loaded gun to a three year old!
Then again, as I sit completely destroyed by the Bone-Headed Stunt wiping out the Swimming Pool Industry(Seems Houses being "Flipped", don't get them!), I cannot say I see anything to laugh about at all!
1999-1 out of 4 Homes, got a Pool!
by 2005, Maybe, 1 out of 50!
For what it is worth, a Pool Company doing 50/Yr-Surviving, 100-Profitting!
For 50 pools, 2,500 Houses needing to be built! Per Company!
Want at least 3 bids, from a selection of 6 companies? For them to be able to survive, and not go out and Burn obligations-15,000 Homes need to be getting built! 30,000 for a profittable economy!
For perspective-4 People / House! 60-120,000 People/ Year incoming!
In 1999, BEFORE the Idiocy! The Six companies to be Profittable, needed 2,400 Houses, NOT 30,000! Influx of 9,600 People!
Can anyone see where I feel I have reason to HATE my REPRESENTATIVES?
It get's better-Now, add in the wage depressing Invasorios, who I have to compete with!
Posted by: rat-the | January 12, 2008 1:09 AM | Report abuse
The Banking deregulation bill Clinton signed in 1998 unleashed the whole Pandora's box of Sub Prime , SIV's and CDO's. Read Bill Gross's account of what's really going on.
http://jtaplin.wordpress.com/2008/01/11/bill-gross-reality-check/
Posted by: Trumbull | January 12, 2008 12:17 AM | Report abuse
How would Hillary Clinton know that the economy isn't working for everyone? She has had a completely sheltered existence and is only where she is because of her husband--a man who presided over the biggest economic boom that this country has ever seen (not that he anything to do with it, mind you) and did absolutely nothing to channel any of it to the disadvantaged. I am a lifelong liberal Democrat. When Bill pushed through welfare reform, I swore never, ever to support Clinton again. And that goes for his wife, too.
Posted by: greener_pastures | January 11, 2008 9:43 PM | Report abuse
LOL!
Socialized Hillarycare for the economy!
Mommy Billary wants to put a great big Band-Aid on the boo-boo!
Ever think that Maybe, just MAYBE, Slick's MORONIC Waiver on Capital Gains off Houses "Flipped" in two years, The Interest only Subprime loans that make the first two Years easy, no gainer payments, and the twice Cursed Home Equity Loans that rape equity while establishing two mortgages on a Shell with zero equity,
WERE BONE-HEADED STUNTS THAT NEED IMMEDIATE RECENDING!!!!
Naw, THAT would be addressing the PROBLEM!
Maybe another Band-Aid there Billary!
Posted by: rat-the | January 11, 2008 9:28 PM | Report abuse
I'm sure Anne, Dan and Shailagh will explain how things work. After all, this is the kind of thing that gets the Times people snickering at our girls, and we can't have that.
Posted by: zukermand | January 11, 2008 9:08 PM | Report abuse
Who the hell is "Karl Vick" and how did he get in here? Has he not gotten the memo? ALL Clinton posts must be laden with insinuation of calculation and triangulation and regular doses of sexism and Heatherish meowing. This poor guy is going to be eating his lunch all alone for a while, at least until he gets with the program and starts hissing and scratching at Sen Clinton.
What a loser.
Posted by: zukermand | January 11, 2008 9:04 PM | Report abuse
The comments to this entry are closed.
sooooo, is Madam Chairwoman Hillary going to the Senate and get this done right now, or is she going to wait until after the elections? Seems to me if she has any ideas that work it would be easier for her to fix things right now, as Senator. Oh, I see, if she did, somehow Bush would get some credit for it. How clever of Hillary. Sorry Americans, we will save you later, we got more Bush bashing to do right now.