Bill Clinton - Redefines Democratic-Republican
In the early 1800's, the United States was but a promising seedling in search of
viable political direction. The initial parties were known as the federalists
and the Democratic-Republicans, the first of which soon diminished and the later
eventually bisected. The result is the two party Democrat and GOP system which
the majority of politicians of current day subscribe. However, many political
and economic analysts find themselves perplexed by an incredible new phenomenon
radiating from the white house - the economic policies of President Bill Clinton.
This dilemma has left many wondering, did we elect a democrat or a republican?
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Economists speculate that these reforms may produce
the desired effect (Rauch 2). However, putting these measures into action may
contradict one of Clinton's main election tenets - to preserve the status quo as
it relates to government programs. The final budget will include one-seventh
for interest on the national debt. A whopping two thirds will go toward
entitlement, one sixth for defense programs and another one-sixth for "non-
defense discretionary spending" (Rauch 2).
Perhaps the most touted aspect of the initial Clinton administration was its
ability to "create" jobs. According to the White House, almost six million jobs
have been created in the past four years, and the unemployment rate in Texas has
dropped from 7.5% to 5.8% (Progress 1). This is a level well below the 6% rate
which many economists regard as full employment. However, there may be a great
deal more then meets the eye when it comes to these "promising" statistics. The
labor force had been predicted to grow at a rate of more than 1.3 percent per
year, however, it has failed to grow by even one percent annually under Clinton
(Reynolds 3). In other words, unemployment has "gone down," by way of
understatement. The number of those counted as actual members of the labor force
has lowered while the number of jobs has moderately increased. It is estimated
that one million men between the ages of twenty-five and fifty-five have left
the labor force as discouraged workers during the four-year span of 1992to 1996
(Reynolds 3). Had these men remained in the force as possible applicants, the
unemployment rate may actually read as high as 8%, as it was during the Reagan
administration (Miller 3). It seems a case of playing with numbers in order to
disguise the truth. Whatever one chooses to call it, Clinton's policies of job
creation place discouraged middle class workers between a rock and a hard place.
Conservative economist Alan Reynolds views it as a technique of "achieving low
unemployment . . . by discouraging millions of people," and remarks that "it is
nothing to brag about" (Reynolds 3).
Productivity growth, "measured as the number of units of output per hour of
work" has grown just 1 percent each year since 1973 (Miller 3). Under usual
circumstances, gradual increases in productivity directly correlate to an
increase in workers'...