Former President Bill Clinton talks with Managing Editor of Fortune Magazine Andy Serwer about how Washington and Congress can create more jobs for Americans. He states there are three things Washington and Congress need to do.
First, they must unleash the private capital that is currently being unused. Clinton states there is nearly 2.2 trillion dollars there that can be used. On top of that, corporations have 2 trillion more that is not being invested. Secondly, they need to accelerate the resolution of the home mortgage crisis. He believes it is important for Americans to understand that an economic crisis takes at least five years to overcome. Lastly, Clinton claims there are dozens of smaller things that can be done to help create jobs. Some include pushing areas where the economy is growing as well as focusing on manufacturing, exports and green technology.
According to Clinton, “America needs a source of new employment that really drives us every five to eight years and a continuous expansion of prosperity centers.”
“What works is cooperation, not conflict.”
SOURCE: CNN Money
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