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Risks of a Third Obama/Clinton Term

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Hillary Clinton has made it clear. She is running as President Obama’s political and policy heir, notes Review & Outlook in the WSJ:

Mrs. Clinton’s project is even more progressive than Mr. Obama’s. Believe it or not, there are still subsidy gaps in the cradle-to-grave entitlement state, and this is a candidate who regularly talks about the programs she wants to create for “ages 0 to 5.”

A partial list includes another burst of spending allegedly earmarked for public works; wage controls for higher federal minimum, overtime, family leave and “equal” pay; a right to child care; “free” college; a Medicare-like public health insurance option and administrative prices for new drugs; and nearly doubling the top tax rate on long-term capital gains to 43.4% from 23.8%. Anyone who thinks these policies will get better results than 2007-2016 hasn’t paid attention.

The public is in a sour mood, and Mrs. Clinton’s private and political character are not helping her unfavorable rating (55.4%)—almost as high as Trump’s 56.9%. The platform Democrats are embracing is not a rising tide to lift all ships. Instead, it’s about doubling down on “redistribution economics, high taxation and heavy regulation.”

Opinion Journal: Obama’s Hillary Endorsement

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Debbie Young

Debbie, editor-in-chief of Richardcyoung.com, has been associate editor of Dick Young’s investment strategy reports for over three decades. When not in Key West, Debbie spends her free time researching and writing in and about Paris and Burgundy, France, cooking on her AGA Cooker, driving her Porsche Boxter S through Vermont and Maine, and practicing yoga.