Six Years Before US Jobs Will Come Back: Clinton

It will take six years to bring US employment back from pre-recession levels, President Bill Clinton told CNBC Thursday.

“There's a lot of money in America that could be reinvested,” said Clinton, speaking from the World Economic Forum in Davos, Switzerland, about the US job situation. The former president has organized a jobs forum in June in Chicago. He said there are people and companies all over the world who are willing to invest in America.

Clinton had praise for Germany, which has maintained an unemployment rate two points below that of the US, in part because Germany has been successful selling to China and other growth markets.

The former president also said that the federal government’s stimulus programs, such as TARP and the bailout of automobile companies, have been successful, because companies were saved and taxpayers got their investment back.