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During the administration of William Jefferson Clinton, the U.S. enjoyed more peace and economic well being than at any time in its history. He was the first Democratic president since Franklin D. Roosevelt to win a second term. He could point to the lowest unemployment rate in modern times, the lowest inflation in 30 years, the highest home ownership in the country's history, dropping crime rates in many places, and reduced welfare rolls. He proposed the first balanced budget in decades and achieved a budget surplus. As part of a plan to celebrate the millennium in 2000, Clinton called for a great national initiative to end racial discrimination.
During the administration of William Jefferson Clinton, the U.S. enjoyed more peace and economic well being than at any time in its history. He was the first Democratic president since Franklin D. Roosevelt to win a second term. He could point to the lowest unemployment rate in modern times, the lowest inflation in 30 years, the highest home ownership in the country's history, dropping crime rates in many places, and reduced welfare rolls. He proposed the first balanced budget in decades and achieved a budget surplus. As part of a plan to celebrate the millennium in 2000, Clinton called for a great national initiative to end racial discrimination.
Just so you know at the end of his term we were heading into a recession!
You really need to look at the way he did it. much like the way that congress gets around the budget act by estimating savings in bills that never actually come true.It's like a shell game and all administrations play it.
-He entered the Presidency at the end of a recession and was able to ride up to the dot-com bubble.
-The Republicans in Congress wouldn't let him have all of the social program spending he wanted.
Nothing magical about his economic team in any way. And eventually, the dot-com popped, so even if there was something about his economic and budget team, it certainly wasn't sustainable.
The main liberal measure of Clinton’s first year was expansion of the earned income tax credit for low income earners, a policy that was in any case consistent with the neoliberal emphasis on market incentives. The central liberal policy plank to reform the health care system came, of course, to naught. With the Republicans gaining control of Congress with the 1994 Contract with America platform, Clinton’s surrender to the right was complete: health care reform was scrapped; welfare was devolved to the states; and from 1995 on Clinton traded back and forth with Republicans over the favored path of deficit reduction and smaller government. Even the fiscal surpluses of Clinton’s second term did not overturn the neoliberal trajectory established during these years. The 1996 Welfare Reform Bill, for instance, turned over welfare responsibility to the states, as initially proposed in Reagan’s 1982 New Federalism speech. But more importantly it placed two-year time limits for the able-bodied to be on welfare, effectively making employment even more a wholly individual responsibility. The 1997 budget plan for deficit reduction further locked in balanced budgeting against counter-cyclical stabilization policies. The New Deal and Keynesianism were dead in American politics, sent to the policy graveyard by Clinton’s Democrats. “The Clinton Administration,” Meeropol concludes, “has as its legacy an abject surrender to an unelected group of people who represent the financial sector of the economy.”
That was the early 2000's recession which didn't effect America, just Europe and Asia.
It did affect America. There was a recession (in America) from March, 2001 to Nov., 2001.
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