Clinton Rips Bush Fiscal, Tax Policies

ABC News: Clinton Rips Bush Fiscal, Tax Policies:

"Interviewed on ABC News' 'This Week,' Former President Calls Tax Cuts Combined with Deficit Spending 'Wrong'

Sept. 18, 2005 — Former President Bill Clinton slammed President Bush's fiscal and tax policies in an interview broadcast today on ABC News' 'This Week.'
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'Tax cuts are always popular,' Clinton said. 'But about half of these tax cuts since 2001 have gone to people in my income group, the top 1 percent. I've gotten four tax cuts.

'Now, what Americans need to understand is that that means every single day of the year, our government goes into the market and borrows money from other countries to finance Iraq, Afghanistan, Katrina, and our tax cuts,' Clinton added. 'We depend on Japan, China, the United Kingdom, Saudi Arabia, and Korea primarily to basically loan us money every day of the year to cover my tax cut and these conflicts and Katrina. I don't think it makes any sense. I think it's wrong.'

Former President Clinton also discussed bringing world leaders together to combat the world's chronic problems — including extreme poverty, global warming and religious conflicts — as well as the Hurricane Katrina recovery effort and Hillary Clinton's political future.

The interview follows:

GEORGE STEPHANOPOULOS: Mr. President, good to see you again."