progress, regress
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P
conom
icPe
rform
anceUnd
erPreside
nts
BillClin
tonand
eorgeW.Bush
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PPresident Clinton took ofce at a time o large
defcits and high unemployment. The country was
headed in the wrong direction ater more than a
decade o supply-side economics. President Clinton
turned the country around by adopting progressive
economic policies that ocused on reducing the
budget defcit, halting the widening gap between
rich and poor, and spurring innovation and invest-ment. By the end o his term, these progressive
policies had yielded the longest sustained period
o economic growth in American history and more
than 23 million new jobs.
Blue = Clinton
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Despite the clear success o progressive policies in
the 1990s, President Bush returned the country to
the ailed economic strategy o ocusing on the very
wealthy under the theory that their success would
trickle down to everyone else. It didnt work out
that way. President Bush cut taxes repeatedly or
high-income earners and on capital gains, with the
promise that those cuts would result in impressivegrowth or everyone. The rich were doing very well
ater eight years o supply-side policies, but every-
one else was alling back. Median incomes and
wages were down, poverty was up, job growth wasanemic, and unemployment was beginning to soar.
Red = Bush
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1
New jobs created in millions
Jobs
23.1
2.6
Unemployment reached a 30-year low inDecember 2000 under President Clintonseconomic policies. But job growth underthe Bush administration was the worstin any cycle in more than 60 years, even
beore the onset o the Great Recessionrom 2001 to 2007.
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2
Percent increase in ination-adjusted DP
conomic growth
35
16
President Clintons economic policiesresulted in the longest period o economicgrowth in U.S. history. The economy grewmore than twice as ast under PresidentClinton than it did under President Bush.
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3
Change in median household income in ination-adjusted dollars
Household income
The median household income increased by 14 percent duringPresident Clintons two terms in ofce, the highest increaseor any two-term president. Under President Bushs economic
policies, median household income decreased or the frst timesince the mid-1960s.
Allhouseholds
White
AricanAmerican
Hispanic
$6,
43
7
$6
,988
$8,
894
$
7,
494
-$3,
557
-$2,
875
-$1,
512
-$2,
197
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4
Change in median annual wage in ination-adjusted dollars
Wages
$5,
553
$394
$4
,692
Wages and salaries rose singifcantlyunder President Clintons economicpolicies. But men actually saw their
wages decline and womens wagesstagnated under President Bush.
Men
Women
-$1,8
75
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5
Percent change in the poverty rate
Poverty
President Clintons economic policies helped bring nearly
8 million people out o poverty by the end o his administration,but 8.3 million people ell back into poverty over the course oPresident Bushs two terms.
All
White
AricanAmericanHispanic
-3.5
1.9
-2.2
1.2
-10.9
2.2
-8.1
1.7
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6
Percent living in poverty
Child poverty
President Clinton achieved particularsuccess reducing the number o childrenin poverty, lowering the rate by more than6 percent during his two terms in ofce.Hal o those gains were erased duringthe Bush administration.
Overallpoverty
Childpoverty
92 94 96 98 00 02 04 06 08
22.7
16.2
19.0
11.3
13.2
15.1
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7
Percent change
Health coverage and pensions
Healthinsurance
Employer-based
health insurance
Pension
1.3
-1.7
-5.7
6.3
-6.7
5.9
The number o uninsured Americansdeclined under President Clinton, evenas the population grew. Yet healthinsurance converage declined andthe employer-based system began to
unravel under President Bush.
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8
Percent change in net business investment as a share of DP
Business investment
-1.9
2.3
President Clintons economic policies
resulted in more business investment,while President Bushs term endedwith less business investment.
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9
Percent change in budget balance and debt as a share of DP
Decits and debt
President Clinton inherited a defcitand turned it into a surplus, the frst
in 30 years. President Bush inheriteda surplus but handed o the largestdefcit in postwar history.
Publiclyheld debt
-13.4
5.5
Budgetbalance
7.0
-5.6
Publiclyheld debt
-13.4
5.5
Budgetbalance
7.0
-5.6
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10
Percent change in spending and revenue as a share of DP
pending and revenue
President Clinton balanced thebudget by taking aggressive steps toboth reduce spending and increase
revenue. President Bush took theopposite approach and slashed taxes,especially or the very wealthy, whilesimultaneously increasing spending.
Revenue
3.1
-3.1
Spending
-3.9
2.5
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