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Essay / Research Paper Abstract
A 7 page book review of Reich's autobiography of the Clinton years. Reich envisioned federal initiatives designed lift up those Americans who have been bypassed by the new knowledge-based global economy. His memoir records his disappointment and his triumphs as a member of the Clinton Administration. No additional sources cited.
Page Count:
7 pages (~225 words per page)
File: D0_khrrcab.rtf
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Unformatted sample text from the term paper:
Reich makes it clear that he considers himself to be a liberal and that he equates liberal values with the Democratic Party. However, Reich feels himself to be a "new"
liberal and he makes it clear that traditional liberalism is overly concerned with preserving the economic ideals of the past to be able to successfully cope with the dramatic changes
of the present. By no means does Reich equate his philosophy with abandoning those in need to the vacillations of the marketplace. He makes it clear that he entered the
Clinton cabinet with high hopes that money generated by reducing corporate tax breaks and subsidies and defense spending could be employed toward liberal causes, such as education, low-income housing, job
training and the like. Reich envisioned federal initiatives designed lift up those Americans who have been bypassed by the new knowledge-based global economy. His memoir records his disappointment and his
triumphs. According to Reich, Clintons capitulation to the Republican majority in Congress over eliminating the deficit swung all of the available political leverage toward his more conservative advisers, such
as Lloyd Bentsen, and also Alan Greenspan, the head of the Federal Reserve Board. Consequently, when the Clinton economic package passed Congress, Reich had mixed feelings. Taxes were made modestly
more progressive and the extension of the Earned Income Tax would cover more of the working poor; however, without significant cuts in defense spending, Reich foresaw that there would be
little funding available for the investment initiatives that he deemed so crucial to Americas future. While there are some victories, overall, Reich sees these initiatives as largely symbolic in nature
and far short of the dreams of significant change that he envisioned at the start of the Clinton tenure in the White House. Reich hails from rural Pennsylvania and
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