President Clinton - Eight Great Years - Democratic Underground

BayCityProgressive

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Sat Aug-27-05 03:58 AM
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President Clinton - Eight Great Years

15 million working families enjoyed tax relief under President Clinton's expanded Earned Income Tax Credit. Thanks to Clinton, the EITC lifted 4.3 million people out of poverty in 1998 alone.

1.5 million children benefited when Clinton more than doubled federal funding for child care.

President Clinton signed a bad "welfare reform" bill in 1996, but Clinton vetoed a worse bill twice, winning concessions each time including - increased child care funding (by $4 billion), worker retraining, extensions for benefits, exceptions for "hard cases" and more.

Clinton increased funding for the Head Start program by 90 percent in FY 2000 so 880,000 children had a better chance to learn and grow.

Clinton forced the minimum wage up from $4.25 to $5.15 per hour and demanded an increase to $6.15.

Clinton's Workforce Investment Act reformed the nation's employment and training system.

Clinton's AmeriCorps gave 150,000 young people the opportunity to serve in their communities while earning money for college or skills training.

President Clinton's One America initiatives challenged us to respect others' differences and embrace the common values that unite us. "o close the opportunity gaps that exist for minorities and the underserved in this country."

The poverty rate fell from 15.1 percent in 1993 to 12.7 percent in 1998. That's the lowest poverty rate since 1979 and the largest five-year drop in poverty in nearly 30 years (1965-1970).

The African-American poverty rate dropped from 33.1 percent in 1993 to 26.1 percent in 1998 -- the lowest level ever recorded and the largest five-year drop in African-American poverty in more than a quarter century (1967-1972).

The poverty rate for Hispanics fell to the lowest level since 1979, and dropped to 25.6 percent in 1998.

African-American unemployment fell from 14.2 percent in 1992 to 7.3 percent in March 2000 -- the lowest rate on record.

The unemployment rate for Hispanics fell from 11.6 percent in 1992 to 6.3 percent in March 2000 -- and in the last year has been at the lowest rate on record.

For women the unemployment rate was 4.3 percent in March 2000, nearly the lowest since 1953 .

In 1999, the homeownership rate was 66.8 percent -- the highest ever recorded. Minority homeownership rates were also the highest ever recorded.

Under President Clinton and Vice President Gore, child poverty declined from 22.7 percent in 1993 to 18.9 percent in 1998 -- the biggest five-year drop in nearly 30 years.

The poverty rate for African-American children fell from 46.1 percent in 1993 to 36.7 percent in 1998 -- the lowest level in 20 years and the biggest five-year drop on record.

The rate also fell for Hispanic children, from 36.8 percent to 34.4 percent - and is now 6.5 percentage points lower than it was in 1993.

Source: http://www.mikehersh.com/President_Clinton_Eight_Great_Years.shtml

Strong Economic Growth: Since President Clinton and Vice President Gore took office, economic growth has averaged 4% per year, compared to average growth of 2.8% during the Reagan-Bush years. The economy has grown for 116 consecutive months, the most in history.

Most New Jobs Ever Created Under a Single Administration: The economy has created more than 22.5 million jobs in less than eight years: the most jobs ever created under a single administration, and more than were created in the previous 12 years. Of the total new jobs, 20.7 million, or 92%, are in the private sector.

Median Family Income Up $6,000 since 1993: Economic gains have been made across the spectrum as family incomes increased for all citizens. Since 1993, real median family income has increased by $6,338, from $42,612 in 1993 to $48,950 in 1999 (in 1999 dollars).

Unemployment at Its Lowest Level in More than 30 Years: Overall unemployment has 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 has been below 5% for 40 consecutive months. Unemployment for African Americans has fallen from 14.2% in 1992 to 7.3% in October 2000, the lowest rate on record. Unemployment for Hispanics has fallen from 11.8% in October 1992 to 5% in October, 2000, also the lowest rate on record.

Lowest Inflation since the 1960s: Inflation is at the lowest rate since the Kennedy Administration, averaging 2.5%, and it is down from 4.7% during the previous administration.

Highest Homeownership Rate on Record: 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.

7 Million Fewer Citizens Living in Poverty: The poverty rate has declined from 15.1% in 1993 to 11.8% last year, the largest six-year drop in poverty in nearly 30 years. There are now 7 million fewer people in poverty than there were in 1993.

Largest Surplus Ever: The surplus in FY 2000 is $237 billion, the third consecutive surplus and the largest surplus ever.

Largest Three-Year Debt Pay-Down 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. Under the Clinton-Gore budget, we are on track to pay off the entire publicly held debt on a net basis by 2009.

Lower Federal Government Spending: 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.

Reduced Interest Payments on the Debt: In 1993, the net interest payments on the debt held by the public were projected to grow to $348 billion in FY 2000. In 2000, interest payments on the debt were $125 billion lower than projected.

Citizens Benefit from Reduced Debt: Because of fiscal discipline and deficit and debt reduction, it is estimated that a family with a home mortgage of $100,000 might expect to save roughly $2,000 per year in mortgage payments, like a large tax cut.

Double Digit Growth in Private Investment in Equipment and Software: Lower debt will help maintain strong economic growth and fuel private investments. With government no longer draining resources out of capital markets, private investment in equipment and software averaged 13.3% annual growth since 1993, compared to 4.7% during 1981 to 1992.

To Establish Fiscal Discipline, President Clinton:

Enacted the 1993 Deficit Reduction Plan without a Single Republican Vote. Prior to 1993, the debate over fiscal policy often revolved around a false choice between public investment and deficit reduction. The 1993 deficit reduction plan showed that deficit and debt reductions could be accomplished in a progressive way by slashing the deficit in half and making important investments in our future, including education, health care, and science and technology research. The plan included more than $500 billion in deficit reduction. It also cut taxes for 15 million of the hardest-pressed citizens by expanding the Earned Income Tax Credit; created the Direct Student Loan Program; created the first nine Empowerment Zones and first 95 Enterprise Communities; and passed tax cuts for small businesses and research and development.

Negotiated the Balanced Budget Agreement of 1997. In his 1997 State of the Union address, President Clinton announced his plan to balance the budget for the first time in 27 years. Later that year, he signed the Balanced Budget Act of 1997, a major bipartisan agreement to eliminate the national budget deficit, create the conditions for economic growth, and invest in the education and health of our people. It provided middle-class tax relief with a $500 per child tax credit and the Hope Scholarship and Lifetime Learning tax credits for college. It also created the Children's Health Insurance Program to serve up to 5 million children and made landmark investments in education initiatives including educational technology, charter schools, Head Start, and Pell Grants. Finally, it added 20 more Empowerment Zones and 20 more rural Enterprise Communities, included the President's plan to revitalize the District of Columbia, and continued welfare reform though $3 billion in new resources to move welfare recipients to private-sector jobs.

Dedicated the Surplus to Save Social Security and Reduce the National Debt. In his 1998 and 1999 State of the Union addresses, President Clinton called on the nation to save the surplus until the solvency of Social Security is assured. He also repeatedly vetoed large Republican tax cut bills that would have jeopardized our nation's fiscal discipline. The President's actions led to a bipartisan consensus on saving the surplus and paying down the debt.

Extended Medicare Solvency from 1999 to 2025. When President Clinton took office, Medicare was expected to become insolvent in 1999, then only six years away. The 1993 deficit reduction act dedicated some of the taxes paid by Social Security beneficiaries to the Medicare Trust Fund and extended the life of Medicare by three years to 2002. Thanks to additional provisions to combat waste, fraud and abuse and bipartisan cooperation in the 1997 balanced budget agreement, Medicare is now expected to remain solvent until 2025.

and more here http://bogota.usembassy.gov/wwwsbc01.shtml

Clinton on gay/lesbian rights (most inclusive administration ever)
http://clinton3.nara.gov/WH/Accomplishments/ac399.html

and hey I am sure you can find much more. Just thought I would post some good things about Clinton rather than the "Clintons are evil nazi" posts that are so common lately.