Thursday, April 2, 2009

Results of the first Clinton administration (1993-2000)

On August 14, 2000, President Clinton spoke at the Stapleton Center. Clinton could just as easily be describing Obama’s America:

Eight years ago, when our party met in New York, it was a far different time for America. Our economy was in trouble, our society was divided, our political system was paralyzed. Ten million of our fellow citizens were out of work. Interest rates were high. The deficit was $290 billion and rising. After 12 years of Republican rule, the federal debt had quadrupled, imposing a crushing burden on our economy and our children.

Welfare rolls, crime, teen pregnancy, income inequality - all had been skyrocketing. And our government was part of the problem, not part of the solution.

Below Clinton touts his economic achievements:

Today, we are in the midst of the longest economic expansion in our history. More than 22 million new jobs, the lowest unemployment in 30 years, the lowest female unemployment in 40 years, the lowest Hispanic and African American unemployment on record, the highest home ownership rate in our history. In 1995, we turned back the largest cuts in history in Medicare, Medicaid, education, and the environment; and proved two years later that we could find the way to balance the budget and protect our values. Today, we have gone from the largest deficits in history to the largest surpluses in history - and if we stay on course, we can make America debt-free for the first time since 1835.

For the first time in decades, wages are rising at all income levels. We have the lowest child poverty rate in 20 years, the lowest poverty rate for single mothers on record. The average family’s income has gone up more than $5,000 and, for African American families, even more.

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