It was because of none of those things. The raise
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Posted On: 05/18/2020 11:42:57 AM
It was because of none of those things. The raise in minimum wage did not fuel the stock market, and I guess it didn't cause job losses either. The tax hike, that the GOP lost its shit over, spurred investments and kept interest rates low,
You can try an overlook the overall but the facts are plain, and your need to change the subject from the mess trump has created is laughable.
President Clinton oversaw a very robust economy during his tenure. The U.S. had strong economic growth (around 4% annually) and record job creation (22.7 million). He raised taxes on higher income taxpayers early in his first term and cut defense spending and welfare, which contributed to a rise in revenue and decline in spending relative to the size of the economy.
These factors helped bring the United States federal budget into surplus from the fiscal year 1998 to 2001, the only surplus years after 1969. Debt held by the public, a primary measure of the national debt, fell relative to GDP throughout his two terms, from 47.8% in 1993 to 31.4% in 2001.[1]
The Clintonomics policy focus could be encapsulated by the following four points:
Establish fiscal discipline and eliminate the budget deficit
Maintain low interest rates and encourage private-sector investment
Eliminate protectionist tariffs
Invest in human capital through education and research
Prior to the 1992 presidential campaign, America had undergone twelve years of conservative policies implemented by Ronald Reagan and George Herbert Walker Bush.
Clinton ran on the economic platform of balancing the budget, lowering inflation, lowering unemployment, and continuing the traditionally conservative policies of free trade.
David Greenberg, a professor of history and media studies at Rutgers University, opined that:
The Clinton years were unquestionably a time of progress, especially on the economy ... Clinton's 1992 slogan, 'Putting people first,' and his stress on 'the economy, stupid,' pitched an optimistic if still gritty populism at a middle class that had suffered under Ronald Reagan and George H.W. Bush. ... By the end of the Clinton presidency, the numbers were uniformly impressive.
Besides the record-high surpluses and the record-low poverty rates, the economy could boast the longest economic expansion in history; the lowest unemployment since the early 1970s; and the lowest poverty rates for single mothers, black Americans, and the aged.[4]
You can try an overlook the overall but the facts are plain, and your need to change the subject from the mess trump has created is laughable.
President Clinton oversaw a very robust economy during his tenure. The U.S. had strong economic growth (around 4% annually) and record job creation (22.7 million). He raised taxes on higher income taxpayers early in his first term and cut defense spending and welfare, which contributed to a rise in revenue and decline in spending relative to the size of the economy.
These factors helped bring the United States federal budget into surplus from the fiscal year 1998 to 2001, the only surplus years after 1969. Debt held by the public, a primary measure of the national debt, fell relative to GDP throughout his two terms, from 47.8% in 1993 to 31.4% in 2001.[1]
The Clintonomics policy focus could be encapsulated by the following four points:
Establish fiscal discipline and eliminate the budget deficit
Maintain low interest rates and encourage private-sector investment
Eliminate protectionist tariffs
Invest in human capital through education and research
Prior to the 1992 presidential campaign, America had undergone twelve years of conservative policies implemented by Ronald Reagan and George Herbert Walker Bush.
Clinton ran on the economic platform of balancing the budget, lowering inflation, lowering unemployment, and continuing the traditionally conservative policies of free trade.
David Greenberg, a professor of history and media studies at Rutgers University, opined that:
The Clinton years were unquestionably a time of progress, especially on the economy ... Clinton's 1992 slogan, 'Putting people first,' and his stress on 'the economy, stupid,' pitched an optimistic if still gritty populism at a middle class that had suffered under Ronald Reagan and George H.W. Bush. ... By the end of the Clinton presidency, the numbers were uniformly impressive.
Besides the record-high surpluses and the record-low poverty rates, the economy could boast the longest economic expansion in history; the lowest unemployment since the early 1970s; and the lowest poverty rates for single mothers, black Americans, and the aged.[4]
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