Premium Essay

The Clinton Administration

In:

Submitted By bookworm212
Words 4161
Pages 17
* THE CLINTON ADMINISTRATON’S OWN VIEW Whatever we might think of the reasoning Greenspan used in convincing Clinton that deficit reduction was an essential policy goal, it still remains a fact that deficits were reduced and (briefly) turned into surpluses over the eight years of the Clinton Presidency. In January of 2001, the Council of Economic Advisers made the following argument:
The Omnibus Budget and Reconciliation Act of 1993 was the right policy package at the right time … long-term interest rates remained stubbornly high. … Bond yields were being predictably affected by the forces of supply and demand: the Federal Government was set to run a deficit of almost $300 billion … With an oversupply of government bonds and the prospect of even more to come, bond and stock prices were depressed, and yields were correspondingly high…

In 1992, the new Administration was elected on a promise to turn the deficits around. After a tough political battle in 1993, the Administration was able to deliver on that promise … The markets responded quickly to this serious effort to address the deficit by lowering expectations of future inflation, and long-term interest rates accordingly fell….

As economic growth and further restraints on spending … turned the huge deficits into surpluses, a new fiscal environment emerged. The 10-year Treasury rate fell below 6 percent in 1998 and 1999… that rate stood at only 5.7 percent in November 2000. …

Ultimately, the combination of falling prices for investment goods and reduced interest costs stimulated dramatic growth in investment… investment grew 13 percent per year between the first quarter of 1993 and the third quarter of 2000.

The result has been a virtuous cycle, in which the right policies in 1993 kicked off a chain reaction of smaller deficits, lower costs of capital, higher investment, increased technology in

Similar Documents

Free Essay

Comparsion Between Condoleezza Rice and Hillary Rodham Clinton Secretary of State

...Condoleezza Rice was the 66th and first black female Secretary of State appointed by President George W. Bush in 2005. Her accomplishments created a national spotlight. She became a faculty member at Stanford University while in her twenties and continued to excel through academics as well as on a national scale. Dr. Rice reached her success by her own accord. She grew up in Birmingham, Alabama, during the civil rights era with a strong family influence. Both of her parents were teachers and emphasized the importance of education. She is an accomplished pianist and speaks several languages to include French and Russian. Prior to the appointment to Secretary of State, Dr. Rice became the Nation Security Advisor during President George W. Bush first term in the presidency (Rice 2008). Dr. Rice studied political science at Stanford University and served as Provost. Dr. Rice’s expertise is concentrated on areas of Soviet Union and European countries. During the 1980’s Dr. Rice closely worked with Security of State George P. Shultz under President Ronald Regan. She was part of a forum, which held frequent meetings on foreign affairs. Dr. Rice served as a Soviet expert on the United States National Security Council, (Rice 2011). Serving on the council came during the fall of the Berlin Wall and the collapse of the Soviet Union. Dr. Rice served as Special Assistant to the President for National Security Affairs. She helped develop Secretary of State James Baker’s policies in favor...

Words: 1914 - Pages: 8

Premium Essay

Haiti Immigration Crisis

...Another layer to President Clinton’s concerns when it came to Cuba and Haiti was the immigration situations surrounding both countries. President Clinton felt and saw the potential for thousands of immigrants to make their way towards U.S. soil all at once if he and his administration did not act to deter this from happening. When looking at each country President Clinton had good reason to be cautious and somewhat fearful of a swell in immigration based off of his past experiences in office. Clinton, while concerned with the Cuban-American community, had greater concerns for a potential Mariel boat lift as the previous one is why he saw to be the main reason he was not reelected as the governor of Arkansas (Pastor). In 1980 the Mariel boatlift...

Words: 1152 - Pages: 5

Premium Essay

Bill Clinton About Presidency

...Bill Clinton - Redefines Democratic-Republican In the early 1800's, the United States was but a promising seedling in search of viable political direction. The initial parties were known as the federalists and the Democratic-Republicans, the first of which soon diminished and the later eventually bisected. The result is the two party Democrat and GOP system which the majority of politicians of current day subscribe. However, many political and economic analysts find themselves perplexed by an incredible new phenomenon radiating from the white house - the economic policies of President Bill Clinton. This dilemma has left many wondering, did we elect a democrat or a republican? Has Clinton unintentionally begun a campaign to reunite the two rivals? The telltale signs of Clinton's political ambiguity include reminiscently republican techniques of reducing the budget, creating jobs, lowered productivity, and shaping the tax code. During Clinton's 1992 campaign, balancing the budget was not among the countries main economic objectives (Miller 4). However, after close scrutiny, the economic woes of the approaching millennium were projected as "higher then we thought it would be" (Miller 4). In fact, "in the twelve years before Clinton took office, the deficit quadrupled in size" (deficit 1). As a result, Clinton must engage in creative cost cutting techniques to keep the budget under control. Money afforded to state and local governments for development programs...

Words: 1065 - Pages: 5

Free Essay

Public Personnel Today

...His role also included maintaining communication between the Directorate of Operations and the Directorate of Intelligence, presidential intelligence advisor, and I “head of the intelligence community” (White, 2008). Majority of Mr. Tenet’s ethical dilemmas were based on his professional role. His first ethical dilemma came upon being sworn in as DCI. The dilemma was to be seen by President Clinton or to focus on reconstruction of the CIA. Since Mr. Tenet chose to focus on the reconstruction of the CIA, President Clinton did not include him in his intelligence committee or as part of the Clinton administration cabinet. The fact that he was not included in the Clinton administration cabinet left room for him to be appointed during the Bush administration but by default and word-of-mouth. The second dilemma was during peace talks between the Palestinians and Israelis during the Fall of 1998 under President Clinton. This dilemma was to position himself as a diplomat or as DCI with internal information regarding a convicted spy. This dilemma almost cost him his position as DCI. President Clinton was about to ignore his threat...

Words: 1676 - Pages: 7

Premium Essay

How Is Hillary Clinton's Powerful Career

...Political Breakthrough: An Examination of Hillary Clinton’s Powerful Career Women in politics have suffered misogyny from the public and male politicians making it difficult for them to accomplish political and societal change. For centuries, patriarchal American society prevented women from working in positions of power, and once they entered the leadership roles, women were forced into the background. Hillary Rodham Clinton is one of the first female politicians in America to escape this subjugation, despite the prevailing sexism. She utilized her position as First Lady to ignite her political career. From there, she was elected as Senator of New York and later appointed as the Secretary of State, a member of the Presidential Cabinet, for...

Words: 1115 - Pages: 5

Premium Essay

Bill Clinton's Emotional Intelligence

...Running Head: MASTER OF EMOTIONS (EI), BILL CLINTON MASTER OF EMOTIONS (EI) BILL CLINTON Jim Whaler Florida State University Management 605, Section 1 Dr. Jane Bagley November 3, 2011 Abstract Bill Clinton was a President that did not allow anyone to tell him something could not be done. If this President found that something could not be completed, he would go as far as possible and then start on the next agenda on the list. He was a well organized President with people in his cabinet that admired this ability. President Bill Clinton changed the entire ambiance of the country with his command of emotional intelligence. When the country was torn on issues, he would find a way to bring people together and solve the problem, or at least reach a successful consensus. Personal problems riddled the Clinton presidency, but this did not stop the forward successes claimed by this giant of a man. Unemployment was a sore subject, but under President Clinton’s direction the economy grew and women and minorities finally began to be placed in high positions in the federal government. The private sector grew and added a high number of jobs in the economy. Bill Clinton is—just--what the U.S. needed during his presidency. Master of Emotions (EI) Bill Clinton During the years of President Clinton’s administration, emotional intelligence was clearly demonstrated in his daily operations. Leaders throughout the world took notice of the incumbent well educated, well spoken...

Words: 2081 - Pages: 9

Premium Essay

Security Competition Between the Us and North Korea

...to the Administration of George W. Bush in 2001 to Pyongyang’s June 2008 demolition of the cooling tower at the Yongbyon nuclear facility. Secondly, and based on the findings of my empirical case study in Chapters Four and Five, I comparatively examine the strength of offensive realism, defensive realism and constructivism in explaining the extent to which US-North Korean security competition was mitigated from 1993 to 2000. The third section considers the implications of this research project’s findings for the ability of policymakers to exercise security dilemma sensibility. The fourth section concludes this PhD thesis by laying out a proposed research agenda that builds on the findings of this research project. 1. Postscript: Transition to George W. Bush George W. Bush succeeded to the US presidency in early 2001 on a political platform that pointed to elements of ideological fundamentalism and assumptions of inherent bad faith in Pyongyang. Robert Woodward argued that the Bush Administration’s outlook was based on moral absolutism that cast the US as a crusader against the ‘evil’ North Korean leadership. Similarly, Charles L. Pritchard, who served as National Security Council Director for Asian Affairs under the Clinton Administration, and the US Representative to Korean Peninsula Energy Development Organization (KEDO) under the Bush Administration, reflected that the transition to Bush marked a hundred percent fundamental change. The Bush Administration brought...

Words: 9664 - Pages: 39

Free Essay

William Jefferson Clinton

...WILLIAM JEFFERSON CLINTON: THE 42ND PRESIDENT OF THE UNITED William Jefferson Clinton The forty-Second President of the United States, William Jefferson Clinton was born William Jefferson Blythe IV on August 19, 1946 in Hope, Arkansas. Only three months after Clinton’s birth his father was killed in a tragic car accident.[1] His mother later married Roger Clinton when Bill was four years old. He took his mother & step father’s name of Clinton when he was in high school. While in high school Clinton was able to meet with President John F. Kennedy. After this meeting Bill decided to enter “a life of public service”.[2] Clinton graduated from Georgetown University in 1968. He then won a Rhodes scholarship and went to Oxford University.[3] He entered Yale Law School upon his return from Oxford. Clinton received a law degree from Yale Law School in 1973. After this, he returned to Arkansas to enter politics but was defeated in a 1974 election for Congress[4]. Bill married Hillary Rodham in 1975, and their only child Chelsea was born in 1980[5]. Clinton won his next attempt at public office. He was elected Arkansas Attorney General in 1976, and was elected Governor in 1978. He lost his campaign for a second term, but won the office again four years later[6]. He was Governor of Arkansas when he ran for President in 1992, defeating “incumbent George Bush and third party candidate Ross Perot in the 1992 race”. Together, Bill Clinton and his vice...

Words: 997 - Pages: 4

Premium Essay

Affordable Care Act vs Heath Security Act

...(President Clinton 1993) legislation has similar attempts and dissimilarities. Both administrations bottom line of health care were to close the gap of the uninsured. The difference stood with the involvement of government and the Affordable Care Act was placed into law and the Health Security Act was not. Contrarily, the Obama administration in 2010 revamped Clinton’s Health Care Act that was sold to the general public. This essay will compare and contrast Affordable Health Care with Health Reform plan, discuss the pros and cons of Affordable, and my recommendation on improvement on legislation. The two major legislative for The Affordable Care Act and The Health Security Act stood at non-existent after the Republican Party were faced with both Health Care Reforms. The support of the public were also absent. Campaigns were second highhandedly uses to persuade the public that both Acts were blatantly coercing citizens, complex, more spending with lower quality service and more government. The Clinton administration pressed to start the kickoff of an 100 day goal, made by the president to sell the reform proposal that was not ready for Capitol Hill. Moreover, the Health Security Act, was upheld by Hilary Clinton, that was unsuccessful executing the unite of the Democratic Party, which caused absence of union that led to the downfall of the bill. The method used by the Obama administration proceeded over by the House and the Senate Democratic majority. This administration worked...

Words: 297 - Pages: 2

Premium Essay

People of Power and Unethical Behavior

...to a vast amount of sex scandals committed by people of power. Unethical behavior committed by people in positions of power continues to make the headlines all across the world. However there are two powerful individuals that continue to make headlines across America for their past unethical behaviors William (Bill) and Hillary Clinton. America’s 42nd President William Jefferson Clinton made a promise to the American people that his administration would be the “most ethical administration in the history of the country” (Hearne, 1996). Although he meant well when he made this statement, some immoral actions do not support this statement. The unethical behaviors demonstrated by Mr. Clinton range from the White water scandal (while Governor of Arkansas), to being the second president to be impeached by the House of Representatives due to personal malfeasance. Although Mr. Clinton continued his presidency he still admitted to having relations with a White House intern (www.historyplace.com, 2000). One all too familiar unethical act committed by Mr. Clinton was the extra-marital affair that he had with Monica Lewinsky. Mr. Clinton has a mile long track record of demonstrating unethical behavior, but the question is why Hillary and Bill are still Husband and wife? Well it is too obvious money can encourage almost anyone to do and commit to the unthinkable to include standing by your...

Words: 902 - Pages: 4

Free Essay

Enron the Complete Perspective

...Enron---The Complete Perspective Introduction Ken lay founded Enron almost fifteen years ago and the foundation which was laid in a Houston town is now almost a $100 billion a year corporation. Top ten in the Fortune 500 list it runs in the same league as International Business Machines Corp. and AT&T Corp. Like all Multi National Corps. Enron has subsidiaries in India, China Philippines, a water company in Britain, pulp mills in Canada and gas pipelines across North America and South America. But the real power lies in the Houston area where it is the leading supplier for electricity and natural gas. As it rose to power it had plans to enter the fiber-optic cable, TV advertising time and wood pulp and steel market. Further, it also had political interest in the nation and like all MNC's lobbied behind its candidates in this case being Bush, who is now President. This seemed to pave the way for Enron's success and put it in a prime position for pulling the strings of power. Now, however, suddenly the power dynamics have changed. From being the top Corporation in the US and the world it is now fighting to retain its stock value. Assets have been pledged to the bank, creditors are scrambling for blood and company lawyers planned to file for bankruptcy. Most of the customers that Enron boasted off have long gone. From the point of creating power it has come down to the mercies of those in power. The company had approximately 21,000 employees all in dire straits as their future...

Words: 2100 - Pages: 9

Free Essay

North Korea Foreign Policy Essay

...Assess the impact of foreign involvement on North Korea’s foreign policy and isolation: North Korea is, as stated by Bruce Cummings in North Korea – Another Country, “The Author of most of its own troubles”. The country is close to entirely isolated from the rest of the world maintaining only small contact with certain nations. Since the ceasefire of the Korean War, North Korea has become increasingly detached from the majority of the world; however what factors have led to this increased isolation? The heavy bombing of the North during the war, the continued existence of missiles aimed at the North, the fall of the Soviet Union, the Carter and Clinton governments steps on reconciliation with North Korea and the Bush Governments seemingly polaric policy re-opening tension with the nation, have all played a role in North Korea’s isolation but to what extent? The Korean War was, as the Cold War of the same era, an ideological clash between the two main systems, Communism and Democracy. The North, as a communist country, was an enemy of the United States in this Ideological Clash however the Korean War was, as stated by Bruce Cummings in his 2004 novel, North Korea – Another Country, “A War fought by Koreans for Korean goals”. Bruce Cummings is the most prominent western historian to write about North Korea and several of his books are on required reading lists for subjects at the Korean University in Seoul. Cummings presents a sympathetic view to North Korea’s scenario as...

Words: 1689 - Pages: 7

Premium Essay

Summary Of The Teapot Dome Scandal

...The Hobbesian theme of Greed and dishonesty is also seen in the Harding Administration during the Teapot Dome Scandal of 1923. In 1912, Taft decided that the oil reserves at Teapot Dome, Wyoming and Elk Hills, California would be set aside for the US Navy to use. When Albert Fall was appointed Secretary of Interior under Harding, asked the Secretary of Navy, Edwin Denby if he could lease some of the reserves to the Mammoth Oil Company. While legal at the time to do so, it was still pretty suspicious that Fall was gaining huge amounts of money from these leases. Finally, On 14th April, 1922, The Wall Street Journal announced that Fall had leased Teapot Dome to Harry F. Sinclair and as a result, senators such as Robert La Follette demanded...

Words: 635 - Pages: 3

Free Essay

Hilory Clinton

...MINISTERUL EDUCATIEI CERCETARII TINERETULUI SI SPORTULUI CERTIFIED ENGLISH Hillary Diane Rodham Clinton ORADEA, 2012 Hillary Diane Rodham Clinton CONTENTS INTRODUCTION.....................................................................................................4 CHAPTER I: EARLY LIFE AND EDUCATION..................................................5 I.1 EARLY LIFE.....................................................................................................................5 I.2 COLLEGE..........................................................................................................................5 I.3 LAW SCHOOL..................................................................................................................8 CHAPTER II: FAMILY, LIFE AND FIRST LADY OF ARKANSAS............................9 II.1 FROM THE EAST COAST TO ARKANSAS..................................................................9 II.2 EARLY ARKANSAS YEARS........................................................................................10 II.3 LATER ARKANSES YEARS.........................................................................................11 CHAPTER III: FIRST LADY OF THE UNITED STATES............................................13 III.1 ROLE AS A FIRST LADY............................................................................................13 III.2 HEALTH CARE AND OTHER POLICY INITIATIVES.........

Words: 6401 - Pages: 26

Free Essay

The Crisis of Crimea and Ukraine

...The Crisis of Crimea and Ukraine Key Lessons for President Obama from Presidents Reagan and Clinton [pic] SOURCE: AP/Greg Gibson President Bill Clinton reads a statement at the conclusion of the NATO 50th anniversary summit, Sunday April 25, 1999, in the Ronald Reagan Building in Washington. By Rudy deLeon and Aarthi Gunasekaran | May 14, 2014 In the past two months, the Crimea and Ukraine crisis has grown. Russia annexed the Crimean Peninsula, the Ukrainian government and pro-Russian militia are engaged in a back and forth standoff in eastern Ukraine, and Russian President Vladimir Putin has threatened that the conflict “essentially puts the nation on the brink of civil war.” The United States has been at the forefront of building international support for Ukraine, and the Obama administration continues to assemble Western support. However, efforts to reach a diplomatic settlement, or at least to reduce immediate tensions, are still in progress. As the Obama administration prepares its next steps in response to Russia in Ukraine, it can examine lessons from two other administrations in times of crisis. First, the Reagan administration’s reaction in 1983 to the Soviet downing of a civilian Korean airliner and its response to the terrorist attack against U.S. Marines on a peacekeeping mission in Lebanon. Second, the Clinton administration’s initiative to proactively expand and deepen partnerships in Europe during the 1990s through its Partnership for Peace. President...

Words: 3876 - Pages: 16