Bill Clinton

Former President Bill Clinton praised the on-time, no-new-taxes state budget in New York that was crafted by a former member of his cabinet, Gov. Andrew Cuomo.

“The confidence people have in NY outside of this state has exploded just because the government did its job,” Clinton said. “You closed the deficit and you didn’t raise taxes. It’s an amazing, amazing thing for you.”

Clinton’s main theme in address was to sacrifice a little in the present in order to make the future better.

“What you’re doing is the right thing,” he said. “But my big message to you is we need more emphasis on the future if give up a little in the present. we have to think of ways to be highly competitive in an increasingly competitive world.”

But perhaps the most significant point of the speech was when Clinton specifically touted the on-bill financing aspect of the Article X power-plant siting bill, which provides payment and financing options for weatherization projects.

“This on-bill financing is a very big deal that I think every region should maximize,” he said, adding the provision hasn’t gotten the publicity it deserves.

The on-bill financing provision, which is meant to growth in the green jobs sector, was a major goal of the Working Families Party, the union-backed third party in New York.

Cuomo nearly did not accept the backing of the WFP in 2010. At the time, the party’s for-profit arm was under investigation for its roll in the 2009 New York City elections. Meanwhile, Cuomo was also pushing for a fiscally conservative agenda that was at odds with the party’s platform.

Cuomo and the party later came to an accord and he ran on their line.

The former president was in Albany to give the keynote address at the economic development conference. Earlier in the day, Cuomo announced a $4.4 billion investment from major technology companies in New York, which the governor said would both create and retain 6,900 jobs.

Clinton, who rightly or wrongly has become an almost nostalgic reminder of the relative stability and prosperity in the 90s, said America’s woes began when the country “rested on our laurels.”

“We got too interested in the present and we lost our commitment to the future. No one is blameless in this and no one single force is to blame,” he said.

He added, “All of our growth was concentrated in housing, finance and consumer spending. When you think about it, all of them are increasingly self-limiting and they all require taking on more debt.”