Economy
Clinton's Influence
Although many people thought that the economy during the 90s was broken they were mistaken. When Clinton was president the economy was on the rise. Clinton brought a decrease in government spending which overall helped decrease the federal deficit. Also Clinton called for a raise in the minimum wage and congress raised it. The first half of the decade was on the lower end and it became to pick up midway into the decade. Economy during the 90’s was historical.
Kassebaum Bill
Part of Clinton’s 1933 plan was the Kennedy Kassebaum bill. This bill had two parts to it. First it said that workers can change jobs and still have the same medical insurance coverage. And that a worker can’t be denied medical insurance due to previous illnesses. Health care was a big part of the economy during the 90’s. When Clinton was a president he balanced our budget for the first time in 35yrs. Clinton raised the taxes of the rich to help the middle class financially. Doing this boosted the economy greatly because it allowed the middle class to do more because they had more money to spend at the stores. In December of 1995 the government had to shut down its operations for 21 days due to a lack in money. Since the middle class was the biggest class it made a tremendous difference in the economy. The unemployment rate decreased from 7 percent to 5 percent between the years 1993 to 2000. Clinton's economic policy created 22 million additional during his presidency.
Welfare System
During Clinton’s campaign in 92 he said that he wanted to end welfare. In 1996 congress created a plan that helped revise the welfare system. During this time president Clinton vetoed two bills in order to protect the poor class. He thought that the laws would hurt the poor way too much. However he did approve one bill putting a limit on how long you are allowed to be on welfare. As a result Clinton had many of his own supporters mad at his decision. This bill also shifted the power of giving out welfare from the national government to the state governments.
Stock Market
The stock market during the 90s was the highest bull market in US history. It was an easy way for average people to go to make a quick profit. Also the internet was a big boost to the United States economy because of the online websites that gave an easy way to make profit. In 1994 34% of American households had some money invested into the stock market. And by 1995 the US had over a hundred billion dollars invested into the stock market. Also the domestic product increased by an average of 4 percent each year.
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