William R. Richardson: “it looks to me like my colleagues on the other side of the aisle are trying to play an elaborate shell game on the…”

“it looks to me like my colleagues on the other side of the aisle are trying to play an elaborate shell game on the American people. While they try to focus public attention on issues such as Whitewater, they hope the facts--that the Clinton economic policy is working and the economy is growing--gets missed. The facts are clear for all to see. As a result of the President's economic plan last year, a plan that was passed solely by Democrats, things are looking up. In 1993, nearly 2 million jobs were created--70 percent more private sector jobs in 1 year than were created in the previous 4 years. Unemployment is down by the largest annual drop in 6 years. The deficit, as a percentage of GDP, is the lowest it has been since 1979, a year before the disastrous 12 years of Reagan-Bush. Interest rates are at 25-year lows and, as a result, five million American families have been able to refinance their homes. Mr. Speaker. There is a wide gap between Republican rhetoric and economic reality. The economy is growing and President Clinton deserves the credit.”