(May 29, 2016 at 4:42 am)downbeatplumb Wrote: From Wikipedia.
https://en.wikipedia.org/wiki/Economic_p...ll_Clinton
Quote:President Clinton oversaw a period of considerable economic growth and expansion during his tenure. In particular, real GDP per capita increased from about $38,000 in 1994 to about $45,000 in 2001 (in real 2011 dollars).[1] The U.S. national debt as a percent of GDP also declined from about 66% to about 56% during Clinton's government.
Quote:[The easiest way to look at the macroeconomic effects of Clinton’s presidency is to look at three main points: gross domestic product (GDP), inflation rates, and unemployment rates.
The national debt per capita rose from approximately $16,000 to $20,000 during Bill Clinton's presidency.[14] Clinton took the deficit of 4.7% of GDP in 1992 and turned it into a surplus of 2.4% of GDP in 2000[citation needed]. Federal spending fell to 18.4 percent of GDP. in 2000 from 22.2 percent in 1992[citation needed]. Although Clinton raised taxes in 1993, he cut them in 1997[citation needed].
Clinton also lowered inflation rates down to 2.3%[citation needed]. HOW DOES A PRESIDENT DO THIS? Democratic presidents had an average of about double that rate, and Republicans had even higher rates (Burns and Taylor 389). This lowering of interest rates contributed greatly to the good economic health exhibited during Clinton’s presidency.
The unemployment rate in the Unites States when Clinton was sworn into office was 6.9%. The lowest unemployment rate during his presidency was 4% in the year 2000. When he was sworn out of office in 2001, the unemployment rate was 4.7%.[15] More jobs were created per month during the Clinton presidency than during any other presidency in U.S. history.
So I got the facts from there.
Nowhere in there does it say that he reduced the debt by 10%.
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