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 Governor blames ‘shenanigans’ on Wall Street for downturn

In order to overcome the all consuming debt crisis in the US taxes should be raised back to the Clinton-era level.

As agreement to raise the US debt ceiling was reached at the 11th hour, President Obama should not be blamed for the level of US national debt. This was a situation inherited from his predecessors.

That’s according to Howard Dean, Governor of Vermont, 1991-2003 and Chairman, Democratic National Committee, 2005-2009.

Governor Dean was a speaker at the marcus evans National Healthcare CXO Summit that took place in May in Hollywood, Florida.

Governor Dean offered suggestions of measures that could be taken so the US can fix its financial problems without suffering the consequences of other heavily-indebted nations, as has been witnessed in Europe.

“We are going to suffer some consequences and everything has to be done in balance. President Obama should not get the blame for the amount of money in the national debt. That began under President Bush and in this very bad downturn caused by the shenanigans on Wall Street you have to spend money on the government level to make up for what the private sector is no longer putting into the economy.

“Now, however, it is time to control that debt and you have got to do that in a very measured and careful way. We do need to reduce spending, we do need to cut programs, we do need to raise taxes back to the Clinton-era level. All those things have to be done but they cannot be done too fast or the recovery will be endangered,” he said.

The marcus evans National Healthcare CXO Summit took place on May 25-27 in Hollywood, Florida.






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