On the recordFebruary 11, 2009
I want to pick up on where I left off. This is the same old, same old fight again. I looked back for some more quotes on the Clinton economic plan which led to 23 million new jobs, the longest period of peacetime economic expansion in American history. I read what Senator Lott from the other side said about it. Here are other Senators: We are going to pile up more debt. We are going to cost jobs. That was Senator Conrad Burns. What happened? We went into surplus, and we created 23 million new jobs. Orrin Hatch: Make no mistake, these higher rates will cost jobs. That was because there were some tax hikes on the wealthiest few. It went on and on. This is Phil Gramm, the guru of the other side: I want to predict here tonight that if we adopt this bill the American economy is going to get weaker and not stronger, the deficit four years from today will be higher than it is today and not lower. . . . He was wrong. This is no longer an academic debate. The Republicans, in 1993, said the same things about the Clinton plan they are saying about the Obama plan. Phil Gramm again: I believe that hundreds of thousands of people are going to lose their jobs as a result of this program. I believe that Bill Clinton will be one of those people. Well, Bill Clinton got reelected. Twenty-three million new jobs were created. He left behind the largest surplus in history. Unemployment rates were the lowest in three decades.
Source
govinfo.gov




