8/1/96
PRESS RELEASE

AS SENATOR DOLE SAID...THIS IS THE BEST ECONOMY IN 30 YEARS

During the 1996 Republican primary in New Hampshire, Bob Dole had a rare moment of positive candor. Speaking to the New Hampshire State Legislature, Dole said: "It is also true as some have said, that our economy is the strongest it's been in 30 years..."

That is true. And the second quarter economic growth numbers released by the Commerce Department today -- showing the economy growing at 4.2 percent -- demonstrate that the economy continues to improve under President Clinton's leadership.

The President is working hard to build on this record, to ensure that the economy continues to grow and that all working American families feel the positive benefits. No thanks to Bob Dole and Newt Gingrich. Given today's strong economic numbers, Bob Dole and Newt Gingrich have no credibility on economics -- even as they publicly flounder in their search for a Republican economic plan.

Dole and Gingrich predicted that the sky would fall if the President’s plan passed.

Here's what Senator Dole had to say:

"The Clinton plan does not solve the deficit problems. It will not keep the economy moving, and it will not create jobs" (April 5, 1993)

But despite their negative "Chicken Little" predictions, the President's positive economic record speaks for itself.

The deficit has been cut in half.

The economy is growing -- at 4.2 percent.

10 million new jobs have been created.

Wages are growing for the first time in over a decade.

The Prediction: Bob Dole On The President's Economic Strategy In 1993

"The Clinton plan does not solve the deficit problems. It will not keep the economy moving, and it will not create jobs."
-- Congressional Record, 4/5/93 (p. 4541)

The Facts: President Clinton’s Economic Record

Strong Economic Growth:

The Commerce Department reported today that the nation's economy grew at a 4.2% annual rate in the second quarter of this year.
[Commerce Department, 8/1/96]

Ten Million New Jobs:

Under President Clinton's leadership, the economy has created 10 million jobs in 41 months.
[Labor Department]

Deficit Cut More Than In Half :

President Clinton has cut the deficit in half from $290 billion in 1992 to $117 billion this year. President Clinton is the first President to cut the deficit for four years in a row since the 1840s.
[CBO; OMB]

Unemployment Is At Its Lowest Level In Six Years:

The unemployment rate is now 5.3% -- its lowest level in six years and 22nd consecutive month below 6%. The unemployment rate averaged 7.5% in 1992.
[Labor Department]

Wages Are Up:

After dropping 79 cents in the previous two Administrations, average hourly earnings have increased slightly under President Clinton. In 1996, more than 50% of all new jobs are in high-wage industries. Since President Clinton has taken office, nearly four million jobs have been created in high-wage industries.
[Bureau of Labor Statistics; Treasury Department; Census Bureau; Business Week, 3/11/96]

The Truth: Bob Dole On The President’s Economic Record In 1996

"It is also true, as some have said, that our economy is the strongest it's been in 30 years."
-- Bob Dole speaking to the New Hampshire State Legislature, 2/13/96

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Paid for by Clinton/Gore ’96 General Committee, Inc.