A NATION TRANSFORMED
Clinton-Gore Administration Accomplishments: 1993 - 1999
Economy: the Strongest Economy in a Generation
Closing the Book on A Generation of Deficits -- in 1992, the deficit was $290 billion, a record dollar high. In 1999, we had a budget surplus of $124 billion -- the largest dollar surplus on record (even after adjusting for inflation) and the largest as a share of our economy since 1951. With the President's plan, we are now on track to eliminate the nation's publicly held debt by 2015.
More than 20 Million New Jobs -- more than 92 percent (18.5 million) of the new jobs have been created in the private sector, the highest percentage in 50 years. This is the most jobs ever created under a single Administration -- and more new jobs than Presidents Reagan and Bush created during their three terms. Under President Clinton, the economy has added an average of 244,000 jobs per month, the highest of any President on record. This compares to 52,000 per month under President Bush and 167,000 per month under President Reagan.
Fastest and Longest Real Wage Growth in Two Decades -- Since 1993, real wages have grown 6.5 percent -- compared to declining 4.3 percent during the previous two administrations. In 1998, real wages were up 2.7 percent -- that's the fastest annual real wage growth in over 20 years.
Unemployment Is the Lowest in 29 Years -- down from 7.5 percent in 1992 to 4.1 percent today -- staying below 5 percent for 29 months in a row.
Highest Homeownership Rate in History -- In the third quarter 1999, the homeownership rate was 67.0 -- the highest ever recorded.
Last Updated December 1999
The Clinton-Gore Economic Record
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