Bill Clinton enforced an excellent fiscal policy which eliminated the budget deficit and created a surplus in the country's national budget. Because of his outstanding fiscal policy, the Federal Reserve Bank was able to reduce interest rates, which, in turn, sparked the housing boom, and companies were able to borrow more money to expand their operations. In fact, because of Clinton, the economy was so hot that the Fed had to raise interest rates (in the last few years of his tenure) to keep inflation in check.
He taxed the rich - which led to the national budget surplus - and used the money to give the poor opportunities to work and get an education. As most people will agree, in the long-run, allowing the poor to work and get an education will, most likely, bring them out of poverty. With less Americans in poverty, more people will be able to spend money. More consumer spending means a better economy - 80% - 85% of the economy is dependent on consumer spending.
2007-02-25
14:39:36
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8 answers
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asked by
Mr. Main Event
5