Columnist and sometime Reason contributor Bruce Bartlett gives thumbs up to the prospects of Sen. Hillary Clinton's likely economic plan as president:
On economics, it is reasonable to assume that Mrs. Clinton's policies would not be altogether different from Bill Clinton's. This is not a bad thing. On trade, his record was outstanding and on the budget was far better than George W. Bush's. While Mr. Clinton raised taxes in 1993, it should be remembered that he cut them in 1997, including a cut in the capital gains tax. On regulatory policy, Mr. Clinton was no worse than the current administration and probably better on net.
Democrats know all this, which is why our most liberal pundits, like Bob Kuttner, are attacking Mrs. Clinton for being a clone of her husband on economics and attacking her support for "Rubinomics," named after former Treasury Secretary Bob Rubin. Its essential elements are a commitment to deficit reduction and globalization which are both anathema to the Democratic Party's liberal base. It wants a hard-line against imports to save jobs and an expansive fiscal policy to pay for a wide range of new social programs.