this is an important debate because it is a debate about promises that have been made and promises that have not been kept. Many Members can recall President Bush, when he came to office, said he had a plan for putting America's economy back on its feet. Now, understand, when President Bush took office we had gone through a period of amazing economic expansion in the United States. Under the 8 years of the previous administration we had created some 27 million new jobs in America. We can remember the feeling of exhilaration and excitement as this economy charged forward. Silicon Valley was leading our technology and our economy, and people across the board were finding their retirement plans and savings were growing to historic levels. There was a great feeling of optimism, creation of more jobs than at any time in our history, lower inflation, a situation where we had more new businesses created than we had seen in any comparable period, and more for women and minorities. It was a dramatic period of economic expansion. It was a period when there was real confidence we were doing the right thing. Some of that is within the control of the President and some of it is not. Giving credit to the previous administration, I believe President Clinton made an important early decision. When he came to office, he decided his party, the Democratic Party, would do something that surprised many observers. He said, we will seriously and honestly address the deficit.…
On the recordMarch 9, 2004
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govinfo.govEditor's note · Context
Discussing the economic policies and promises made by President Bush compared to the previous administration.
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