Economic Report of the President.

Abstract

For the last 5 years this Administration has worked to strengthen our Nation for the 21st century, expanding opportunity for all Americans, demanding responsibility from all Americans, and bringing us together as a community of all Americans. Building a strong economy is the cornerstone of our efforts to meet these challenges. When I first took office in 1993, the Federal budget deficit was out of control, unemployment was unacceptably high, and wages were stagnant. To reverse this course, we took a new approach, putting in place a bold economic strategy designed to bring down the deficit and give America's workers the tools and training they need to help them thrive in our changing economy Our strategy has succeeded: the economy has created more than 14 million new jobs, unemployment is at its lowest level in 24 years, and core inflation is at its lowest level in 30 years. Economic growth in 1997 was the strongest in almost a decade, and the benefits of that growth are being shared by all Americans: poverty is dropping and median family income has gone up nearly $2,200 since 1993. We also saw the biggest drop in welfare rolls in history. Many challenges remain, but Americans are enjoying the fruits of an economy that is steady and strong. Our economic strategy-balancing the budget, investing in our people, opening markets-has set this Nation on the right course to meet this goal. This strategy will support and contribute to America's strength in the new economic era, removing barriers to our economy's potential and providing our people with the skills, the flexibility, and the security to succeed. We must continue to maintain the fiscal discipline that is balancing the budget, to invest in our people and their skills, and to lead the world to greater prosperity in the 21st century.

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Document Details

Document Type
Technical Report
Publication Date
Feb 10, 1998
Accession Number
ADA351209

Entities

Organizations

  • Executive Office of the President of the United States

Tags

Communities of Interest

  • Biomedical
  • Ground and Sea Platforms

DTIC Thesaurus Topics

  • Business Administration
  • Climate Change
  • Congress
  • Employment
  • Environmental Protection
  • Ethnic Groups
  • Geography
  • Government Procurement
  • Greenhouse Effect
  • Greenhouse Gases
  • Health Services
  • International Relations
  • Investments
  • Management Personnel
  • Medical Personnel
  • Minority Groups
  • Recreation

Fields of Study

  • Economics

Readers

  • International Relations, focusing on Korea-Africa and North Korea-South Korea relations, and Nigeria-Latin American Relations.
  • Military History of the United States in the 20th Century.
  • Systems Analysis and Design