How Did Bill Clinton Affect The Economy

During President Clintons first term as President he devised a plan to decrease the federal deficits of the United States by $500 billion dollars over the span of five years (Smith, Lecture Notes, week 9). He also proposed a tax cut for the middle class but later changed his position in order to ensure that the budget plan would pass Congress. This package would have allowed $16 billion dollars to go towards creating jobs which was one of Bill Clinton’s agendas when he entered office. President Clinton did end up with most of what he had requested including a 1% increase in taxes and 39.6% tax on revenue of $250,000 or more (Patterson 332). In addition to the above he also made reductions in defense, foreign intelligence and public programs. …show more content…
Clinton’s proposal was also estimated to cut the federal deficit in five years by $500 billion (Patterson 333). Much of President Clinton’s decisions were advised by Secretary of the Treasury Lloyd Benson and Federal Reserve Chairman Alan Greenspan, he depended on these two men to help reduce the national budget (Patterson 332). One of Clinton’s biggest accomplishments as President was the 1993 budget deal that further improved his reputation as an economic manager. Over time the passing of this package did make a difference on the economy. Another factor that impacted economic growth was NAFTA (North American Free Trade Agreement (Patterson 333). President Clinton was able to obtain a $30 billion crime bill that would give money to communities all around the United States to employ a total of 100,000 new policemen (Patterson