Originally posted by ThunderBalls
What good did Clinton do?
In 1992, 10 million citizens were unemployed, the country faced record deficits, and poverty and welfare rolls were growing. Family incomes were losing ground to inflation and jobs were being created at the slowest rate since the Great Depression.
After 8 years of Clinton economic growth averaged 4% per year, compared to average growth of 2.8% during the Reagan-Bush years. The economy grew for 116 consecutive months, the most in history.
The Clinton economy created more than 22.5 million jobs in less than eight years: the most jobs ever created under a single administration.
Overall unemployment dropped to the lowest level in more than 30 years, down from 6.9% in 1993 to just 4% in November, 2000. The unemployment rate had been below 5% for 40 consecutive months.
Inflation was at the lowest rate since the Kennedy Administration, averaging 2.5%, down from 4.7% during the previous administration.
The homeownership rate reached 67.7% for the third quarter of 2000, the highest rate on record. In contrast, the homeownership rate fell from 65.6% in the first quarter of 1981 to 63.7% in the first quarter of 1993.
The poverty rate declined from 15.1% in 1993 to 11.8% in 2000, the largest six-year drop in poverty in nearly 30 years. 7 million fewer people in poverty than there were in 1993.
The surplus in FY 2000 was $237 billion, the third consecutive surplus and the largest surplus ever.
Between 1998-2000, the publicly held debt was reduced by $363 billion, the largest three-year pay-down in U.S. history. Under Presidents Reagan and Bush, the debt held by the public quadrupled.
After increasing under the previous two administrations, federal government spending as a share of the economy has been cut from 22.2% in 1992 to 18% in 2000, the lowest level since 1966.
How did he do this?
Enacted the 1993 Deficit Reduction Plan without a Single Republican Vote.
Created the Balanced Budget Act of 1997.
Dedicated the Surplus to Save Social Security and Reduce the National Debt.
He also repeatedly vetoed large Republican tax cut bills that would have jeopardized our nation's fiscal discipline.
Raised the Minimum Wage. In 1996, President Clinton and Vice President Gore fought for and won a 90-cent per hour increase in the minimum wage, helping 10 million workers.
Created the E-Rate. With the leadership of Vice President Gore, the Telecommunications Act contained the E-Rate initiative, which provides low-cost Internet connections for schools, libraries, rural health clinics and hospitals. More than 80% of U.S. public schools have benefited from the E-rate, which has helped connect 30 million children and up to 47,000 schools and libraries to the Internet.
Paved the Way for Electronic Commerce. President Clinton fought to eliminate legal barriers to using electronic technology to form and sign contracts, collect and store documents, and send and receive notices and disclosures, while ensuring that consumers on-line have the same protections that they have in the paper world. He signed the Electronic Signatures in Global and National Commerce Act on June 30, 2000.
Not to mention welfare reform, the clean air act, preserving our national forests and most likely the best foreign policies ever.
Yep, Clinton had nothing to do with the best economy in history.
What good did Clinton do?
In 1992, 10 million citizens were unemployed, the country faced record deficits, and poverty and welfare rolls were growing. Family incomes were losing ground to inflation and jobs were being created at the slowest rate since the Great Depression.
After 8 years of Clinton economic growth averaged 4% per year, compared to average growth of 2.8% during the Reagan-Bush years. The economy grew for 116 consecutive months, the most in history.
The Clinton economy created more than 22.5 million jobs in less than eight years: the most jobs ever created under a single administration.
Overall unemployment dropped to the lowest level in more than 30 years, down from 6.9% in 1993 to just 4% in November, 2000. The unemployment rate had been below 5% for 40 consecutive months.
Inflation was at the lowest rate since the Kennedy Administration, averaging 2.5%, down from 4.7% during the previous administration.
The homeownership rate reached 67.7% for the third quarter of 2000, the highest rate on record. In contrast, the homeownership rate fell from 65.6% in the first quarter of 1981 to 63.7% in the first quarter of 1993.
The poverty rate declined from 15.1% in 1993 to 11.8% in 2000, the largest six-year drop in poverty in nearly 30 years. 7 million fewer people in poverty than there were in 1993.
The surplus in FY 2000 was $237 billion, the third consecutive surplus and the largest surplus ever.
Between 1998-2000, the publicly held debt was reduced by $363 billion, the largest three-year pay-down in U.S. history. Under Presidents Reagan and Bush, the debt held by the public quadrupled.
After increasing under the previous two administrations, federal government spending as a share of the economy has been cut from 22.2% in 1992 to 18% in 2000, the lowest level since 1966.
How did he do this?
Enacted the 1993 Deficit Reduction Plan without a Single Republican Vote.
Created the Balanced Budget Act of 1997.
Dedicated the Surplus to Save Social Security and Reduce the National Debt.
He also repeatedly vetoed large Republican tax cut bills that would have jeopardized our nation's fiscal discipline.
Raised the Minimum Wage. In 1996, President Clinton and Vice President Gore fought for and won a 90-cent per hour increase in the minimum wage, helping 10 million workers.
Created the E-Rate. With the leadership of Vice President Gore, the Telecommunications Act contained the E-Rate initiative, which provides low-cost Internet connections for schools, libraries, rural health clinics and hospitals. More than 80% of U.S. public schools have benefited from the E-rate, which has helped connect 30 million children and up to 47,000 schools and libraries to the Internet.
Paved the Way for Electronic Commerce. President Clinton fought to eliminate legal barriers to using electronic technology to form and sign contracts, collect and store documents, and send and receive notices and disclosures, while ensuring that consumers on-line have the same protections that they have in the paper world. He signed the Electronic Signatures in Global and National Commerce Act on June 30, 2000.
Not to mention welfare reform, the clean air act, preserving our national forests and most likely the best foreign policies ever.
Yep, Clinton had nothing to do with the best economy in history.
nice reading
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