Clinton Spot Claims Plan Would Create 8 Million Jobs

Bill Clinton released the third ad of his general election campaign this week. The campaign has refused to disclose where or how often the 30-second ad will air.

The Ad: Clinton, standing in an official-looking office, speaks directly into the camera. “Government just isn’t working for the hard-working families of America. We need fundamental change, not more of the same. That’s why I’ve offered a comprehensive plan, a real plan to rebuild America, create 8 million new jobs, invest in education and job training, ensure quality, affordable health care for all. We’re going to ask the rich to pay their fair share so the rest of America can finally get a break. A plan to put government back on your side. Read it yourself. (Text on the screen offers an 800 number viewers can call.) Together we can make America work again.”

Analysis: The promise that Clinton’s plan would create 8 million new jobs, which he has said would occur over four years, is based on economic assumptions that many experts say are optimistic at best. President Bush, in 1988, promised to create 30 million jobs over 8 years; so far, only 1 million have been created. While most economists argue that the competing economic plans now being advanced by Clinton and Bush have positive points, both have been criticized for failing to seriously address what most view as the nation’s worst long-term problem: the $4-trillion national debt. Clinton has won praise from economists for a willingness to raise some taxes; he would increase the tax rate on families making more than $200,000 a year. But Clinton has steered clear of any proposals to cut entitlements, such as Social Security and Medicare, that constitute the largest share of the budget. Bush has suggested a cap on the growth of some entitlements, though he has not specified which ones.