President Clintons New Directions Economic Plan :: essays research papers

President Clintons impudently Directions Economic Plan In 1992, America was under stinting trauma and uncertainty as a country. America had go through high unemployment, plumping deficits, high involution sends, low productivity gains and falling real final payment for clean Americans. After twelve years of national drift and economic decline, President Clinton charted a path to growth with the New Directions economic envision designed to create jobs, boost incomes, move our economy from consumption to investment, and undertake our deficit. His three-part economic strategy focused on three objectives fiscal agree, investment in education, health care, science and technology, and opening foreign markets. This strategy has helped promote the conditions for what is this instant the longest expansion in US history.Fiscal discipline set out to rid our economy of its deficit and get interest rates back down and investment up. In 1992, America experienced the highest dollar le vel in history--$290 billion deficit. In 1999, we had a figure surplus of $124 billionthe largest dollar surplus on interpret and the largest as a share of our economy since 1951. The National Debt should be eliminated by Y2015 if we check mark on track with this economic plan. Continuing the strategy has in knock over lowered interest rates that help ordinary Americans. It cut the terms of the total home mortgage, the price of the average car payment and the average college loan repayment. American engine room has moved in a naked as a jaybird direction, which has fostered economic growth. randomness Technology has helped transform the economy. Information Technology has make a crucial contribution to the new economy, helping fuel record growth, higher wages, and changes in the way business is done throughout the economy. Information Technology accounts for only 8% of the total jobs but has been responsible for more or less one-third of US economic growth. Wages in the In formation Technology industry are 77% higher than the private sector average wage. Declining Information technology prices have lowered the overall inflation rate by nearly one percentage point. Information Technology now accounts for nearly half of business investments. Adjusted for inflation, American companies invested three multiplication more in Information Technology in 1999 than in 1992.The Clinton-Gore administration has opened foreign markets for high tech goods, cracked down on foreign piracy and liberalized export controls on computers and telecommunications equipment. At the same cartridge clip negotiating over 270 trade agreements, including those involving high technology issues. By eliminating hundreds of programs, the investment in education and training has doubled.