President Clintons New Directions Economic Plan :: essays research papers

President Clintons New Directions Economic Plan In 1992, America was under frugal distress and uncertainty as a country. America had experienced postgraduate unemployment, big deficits, graduate(prenominal) interest order, emit productivity gains and falling real wages for average Americans. After 12 years of national drift and economic decline, President Clinton charted a row to growth with the New Directions economic plan designed to create jobs, advertise incomes, move our economy from consumption to investment, and reduce our deficit. His three-part economic strategy focus on three objectives fiscal discipline, investing in education, health care, erudition and technology, and opening foreign markets. This strategy has helped foster the conditions for what is now the longest working out in US history.Fiscal discipline set out to unloose our economy of its deficit and get interest rates back crush and investment up. In 1992, America experienced the highest clam lev el in history--$290 billion deficit. In 1999, we had a budget surplus of $124 billionthe largest dollar surplus on record and the largest as a share of our economy since 1951. The National Debt should be eliminated by Y2015 if we stay on track with this economic plan. Continuing the strategy has in turn lowered interest rates that help ordinary Americans. It cut the impairment of the average home mortgage, the price of the average car payment and the average college loan repayment. American engineering science has moved in a new direction, which has fostered economic growth. instruction engine room has helped transform the economy. Information Technology has made a crucial portion to the new economy, helping fuel record growth, higher wages, and changes in the flair military control is d hotshot throughout the economy. Information Technology accounts for only 8% of the total jobs but has been responsible for nearly one-third of US economic growth. Wages in the Information Tec hnology industry are 77% higher than the private sector average wage. Declining Information technology prices pay back lowered the overall inflation rate by nearly one percentage point. Information Technology now accounts for nearly half of business investments. Adjusted for inflation, American companies invested three times more in Information Technology in 1999 than in 1992.The Clinton-Gore Administration has opened foreign markets for high tech goods, cracked down on foreign piracy and liberalized exportation controls on computers and telecommunications equipment. At the same time negotiating over 270 trade agreements, including those involving high technology issues. By eliminating hundreds of programs, the investment in education and training has doubled.