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Fact Sheet: The Clinton-Gore Economic Record: Strongest Growth In Over Three Decades (7/28/00)

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The Briefing Room
|                                                                         |
|                    THE CLINTON-GORE ECONOMIC RECORD:                    |
|                 STRONGEST GROWTH IN OVER THREE DECADES                  |
|                              July 28, 2000                              |
|                                                                         |

Today?s Economic Data Shows That the Economy Grew 5.2 Percent in the Second
Quarter of 2000.  This brings growth for the last year to 6.0 percent - the
strongest growth in over 15 years.  Under President Clinton and Vice
President Al Gore, the economy has grown 4.0 percent annually, the
strongest growth of any Administration since Johnson.  At the same time,
America has created more than 22 million new jobs since President Clinton
came into office and enjoys nearly the lowest unemployment rate in over 30


?  5.2 Percent GDP Growth In the Second Quarter.  GDP growth in the second
quarter was 5.2 percent.  This brings the growth rate for the last four
quarters to 6.0 percent - the strongest since 1983 when the economy was
emerging from a deep recession.

?  17.2 Percent Investment Growth in the Last Year - Continuing the Longest
and Strongest Investment Growth On Record.  Equipment and software
investment grew 17.2 percent in the last year.  This is the seventh
consecutive year of double-digit growth for the first time on record.
Since President Clinton has taken office, equipment and software investment
has been faster - 13.3 percent per year - than any President on record
(comparable investment data is available from 1959).

?  Inflation Over the Last Year Remains Low.  In the last year, the GDP
price index rose 2.1 percent at an annual rate.


1. Maintaining Fiscal Discipline.  In 1992, the budget deficit was $290
  billion - the largest dollar deficit on record.  In 2000, the projected
  budget surplus is $211 billion - the largest dollar surplus ever.
  America is on track to pay down over $300 billion of debt over three

2. Investing in the American People.  For seven years, the President has
worked to make critical investments
   in our people that are vital to a strong economy.

3. Opening Markets Abroad and Leading The Global Economy.  The President
has been strongly
   committed to expanding foreign markets for American goods.

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