President Clinton's Administration
President Clinton and Vice President Gore's economic plan was enacted without a single Republican vote. Vice President Gore broke a tie on August 6, 1993 to pass the measure in the Senate and President Clinton signed the 1993 Budget Reconciliation into law four days later. Their bold, three-part strategy established fiscal discipline; invested in education, health care, science and technology; and opened foreign markets so that American workers have a fair chance to compete abroad. Passage of the economic plan was a historic turning point, reversing 12 years of trickle-down economics and turning the largest deficit in history into the largest budget surplus in history. It also committed the country to a path of fiscal discipline that helped unleash the productive potential of the American people, contributing to the longest economic expansion in history, including the creation of over 22 million jobs, the lowest unemployment and inflation rates in a generation, rising wages and the highest homeownership rates on record. Today, working families are enjoying the benefits of this comprehensive plan and the course of fiscal discipline it established.
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