Bill Clinton 1996 On The Issues
Promoting Strong and
Steady Economic Growth
"Our challenge is to ensure that every American has
the opportunity to achieve economic security. We must do what no generation
has had to do before -- we must invest in our own people, in their jobs, in
their future, and cut our massive debt at the same time. We must meet these
challenges in a way that is fair to all Americans.
When President Clinton took office,
America's economy was drifting. The deficit was skyrocketing, unemployment was
high, and job growth was anemic. In 1993, the President put into place an
Economic Plan to reduce the deficit, invest in our people, and get our country
moving again.
Four years later, America's economy is on the right track to the 21st
century. Americans have created 10.5 million new jobs, 93 percent in the
private sector. Basic industries have rebounded, with 931,000 new construction
jobs and nearly 120,000 new manufacturing jobs. We have the lowest combined
rate of unemployment, inflation, and mortgage rates since 1968. Consumer
confidence is at its highest level in six years. Our high-tech industries --
like semiconductors and biotech -- lead the world. America is selling more
cars than Japan for the first time since the 1970s.
Our growing economy is giving parents greater opportunity to provide for
their children. The typical family's income is up $1,600 since passage of
President Clinton's 1993 Economic Plan. Real wages are rising for the first
time in a decade. Homeownership is at a 15-year high.
President Clinton is promoting economic growth and building a bridge to the
21st century by:
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Putting our economic house in order. President Clinton's
wise economic policies have cut the deficit by 60
percent. |
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Making work pay. President Clinton's 1993 budget expanded
the Earned Income Tax Credit (EITC) for 15 million working families --
because working parents should not have to raise their children in
poverty. |
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Bringing the unemployment rate down. Four years ago,
unemployment averaged 7.5 percent. Today, it is down to 5.2 percent --
its lowest level in 7 1/2 years. |
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Increasing exports of American goods by one-third -- a
record high. |
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Spurring private-sector growth. Since President Clinton
took office, the private sector has expanded 3.2 percent
annually. |
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Promoting business investment. Business investment has
increased 10.4 percent annually since President Clinton took
office. |
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Increasing economic security for families by signing
health insurance legislation to expand and protect access. The
Kassebaum-Kennedy Health Insurance Reform Bill protects Americans from
losing their health insurance if they change or lose their jobs and
prevents the denial of coverage due to preexisting
conditions. |
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Providing tax relief to our small businesses. Under
President Clinton, 90 percent of all small businesses became eligible
for tax cuts. |
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Signing the first increase in the minimum wage in over 5
years. This 90-cent raise will provide up to $1,800 per year to each
full-time worker -- enough to pay for four months of rent or mortgage
payments or over seven months of groceries for the average
family. |
Building on Our Progress
President Clinton is committed to balancing the budget while providing
targeted tax cuts for education, child-rearing, and home buying that
strengthen our economy. The President will continue working to open foreign
markets to American goods; increase the economic and personal security of
working Americans; and invest in research and technology. President Clinton
strongly believes that if we stick to America's basic bargain -- opportunity
for all and responsibility from all -- there is no limit to the economic
success America can achieve. President Clinton will continue strengthening and
investing in the economy by:
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Proposing to balance the budget in a way that protects our
values without undermining Medicare, Medicaid, education, and the
environment. It also includes targeted tax cuts that are fully paid
for -- including $500 per child -- to help families pay for
childrearing, homeownership, and college tuition
expenses. |
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Challenging Congress to pass meaningful pension reform
that will help all Americans save for retirement. The President's plan
would increase pension portability, enhance pension protection, and
expand coverage. |
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Proposing to consolidate over 70 overlapping federal job
training programs into a single $2,600 voucher, allowing unemployed
and underemployed workers the opportunity to choose the training
programs that are right for them. |
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Increasing our investment in education by expanding access
to college through a $1,500 HOPE Scholarship tax credit, a $10,000
education tax deduction, and penalty-free withdrawals for college
tuition from IRAs. |
Source: Bill Clinton for President 1996 Web Site |
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