US Already in ‘Recession,’ Extend Tax Cuts: Bill Clinton

Former President Bill Clinton told CNBC Tuesday that the US economy already is in a recession and urged Congress to extend all the tax cuts due to expire at the end of the year.

In a taped interview aired on “Closing Bell,” the still-popular 42nd president called the current economic conditions a “recession” and said overzealous Republican plans to cut the deficit threaten to plunge the country further into the debt abyss.

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