Wednesday, January 4, 2012

Democrats are wrong about government spending and job creation

Note that the official William J. Clinton Presidential Center website claims that during Bill Clinton’s administration the nation "Moved from record federal deficits to record surplus" and "Began paying off the national debt" while "[Creating] nearly 23 million jobs" and supporting the "Fastest and longest real wage growth in over three decades." Also, during this time "Family income reached record highs, "Unemployment was the lowest in over three decades," the "Lowest overall poverty and child poverty rates since the 1970s," and "Lowest percentage of Americans on welfare in 32 years" was also achieved.

How did they do it?
  • They reduced the size of government, having the "Smallest federal civilian workforce in 40 years."
  • They reduced the burden of federal spending on the economy by having the "Lowest federal spending as a share of the economy since 1966" and the "Slowest per capita growth of government spending since the 1950s."


1 comment:

Frank Koza said...

There was no surplus under Clinton. True he paid down a bit of the "public" held debt, but that was done by adding more debt to intra-government holdings accounts. The total national debt continued increasing during those years.

See Craig Steiner explain the The Myth of the Clinton Surplus.