Pros And Cons Of The Bill Clinton Budget

At the time of Reagan’s presidency, there was turmoil in the world. Making Reagan’s priority during his presidency national security. Benson points out the drastic difference in view points toward defense spending between the Democrats and the Reagan administration by

Ronald Reagan was a child of the Great Depression who grew up with traditional family values. During his adulthood, Reagan supported Roosevelt, and in fact voted for him four times. Ronald Reagan can be compared to Franklin Roosevelt in many aspects beginning with the successes that each had as president. Both were conservatives who entered the presidential office hoping to make changes in policies and taxes, as well as changes in public attitude towards American progress, strength, and growth. Reagan entered office during the depression of the seventies and shortcomings of Jimmy Carter, much like Roosevelt rose out of the Great Depression and self-defeating endeavors of Herbert Hoover (Sloan, 2008). Prior to becoming recognized as great presidents, each would serve as governors

Conte & Karr (2001) report the economic growth of the 1980’s in the United States sees President Regan cutting taxes and slashing social programs. President Reagan also

Budgeting is perhaps the most essential process involved in the United States government. While this process seems to exist only in the background, it is, in reality, what allows all other processes of government to function as they do. In order to satisfy the most necessities of modern society, changes must be made to each of the three major categories of the budget: the big five, the middle five, and the little guys.

The economy was in trouble because the United States had poured in some 168 billion into the war. During 1962- 1965 there was low inflation, almost full employment, and a favorable balance of trade. President Johnson declared a “War on Poverty” through his “Great Society” programs while escalating the war in Vietnam at the same time. However, his decision to finance both “guns and butter” – a major war and the Great Society simultaneously, without a significant increase in taxes unleashed an acceleration of inflation, when Nixon came into office. Although the real reason for inflation was the high military spending for the Vietnam war, the stall of economic growth had produced a more important matter, economic recession, and high unemployment. Though he did act upon them, his policy

Despite his scandals of an affair with an intern working in the White House, he not only significantly advanced the States economically but also provides health coverage for millions of children throughout the country by enacting a serial of bills. Eventually, he is admitted by American public.

Reagan increased defense spending. U.S. exports were falling, creating a negative balance of trade where the country was buying more from foreign countries than it was selling to them.

The federal budget deficit is a much discussed and little understood subject in American politics. The current recession has dramatically decreased tax revenues, driving the United States federal government to increase spending in an attempt to stabilize the economy. As a result the current federal deficit is at over $1.3 trillion dollars. This is approximately $47,754 per U.S. citizen or $137,552 per U. S. taxpayer (U.S. Debt Clock: Real Time, 2012).

President Reagan worked skillfully to pass his legislation in congress. He worked with a Democratic majority house to pass legislation. Reagan 's support for an increased defense budget at the height of the Cold War was supported by Congressional Democrats and Republicans. However, Congress was reluctant, yet followed through with Reagan 's proposed cuts in domestic programs. In accordance with Reagan 's less-government intervention views, many domestic government programs were cut or experienced periods of reduced funding during his presidency. One important law

During his time as president, Bill Clinton helped pass a variety of legislation that greatly impacted the country in several ways including creating a budget surplus and signing an act that encouraged much stricter sentencing for criminals. Two pieces of legislation that highlight positive and negative aspects of Clintons presidency are the 1993 Omnibus Budget Reconciliation Act and the Violent Crime Control and Law Enforcement Act of 1994. The former, the first budget passed by the president, increased taxes for high earners and created “an earned income tax credit for incomes under $30,000”(UC Berkeley). This helped to create budget surpluses for much of the 1990’s. The latter, one of the more controversial bills passed by Clinton, contained many provisions that served as harsh punishment for the crimes rather than rehabilitation (Lussenhop). This act impacted the already high incarceration rate and did not address at-risk communities where economic resources were badly needed. Both of these acts impacted the public in different ways, the budget aided low income families with its income tax credit while the violent crime act added to the budding mass incarceration problem in the United States and failed to address the problems in low income communities(Lussenhop). As president, Bill Clinton served as a good representative who supported the virtue of fair-mindedness. Even though some of his actions were not in accordance with the virtue, such as the Violent Crime Control

Neither Republicans nor Democrats will admit it today, but Ronald Reagan was a very fiscally liberal president. His eagerness to please citizens with tax cuts and a boost in defense spending, all while balancing the budget, seemed well placed, but with the largest deficit run in peacetime up to that time, Reagan proved he did not have the heart to make cuts to control the budget. Additionally, the change from reactionary monetary policy to monetarism by Federal Reserve chairman Paul Volcker dealt with the increasing inflation and unemployment problem of the late 1970’s, but at the cost of deep recession. Reagan, who as a candidate had promised economic prosperity, found himself in a difficult situation, as his plans for growth were

From 1981 to 1989, Ronald Reagan was a great leader for America. Least Importantly, Reagan campaigned very hard to become president. Reagan Worked hard and didn’t give up. During one of his debates, Reagan appeared tired and very confused. Many papers stated that Reagan was too old for presidency. Although the press used his age against him, he said, “I am not going to exploit for political purposes my opponents youth and inexperience” (Kent 72). One fact that gave Reagan an advantage was that he was going to deny Mondale’s pledge to raise tax to pay for new government programs. Furthermore, Reagan was good because he wanted to help the government and economy for the people. According to Kent, Reagan cut tax rates for the people by 25%.Throughout

Ronald Reagan served as the 40th President of the United States from 1981 thru 1989. Reagan became a movie actor in his twenties and later became the governor of California from 1967 thru 1975. Ronald Reagan served two terms as president during which he cut taxes, increased defense spending, negotiated an agreement with the Soviet Union to reduce nuclear arms and is also recognized for bringing an end to the Cold War (Rossinow 56). Reagan is also remembered for his part in the Iran-Contra affair, cutting social services, and the $1.86 trillion federal debt increase he incurred while in office (Morris). Reagan was the oldest president ever elected, turning seventy-four shortly after starting his second term as president (Rossinow 57).

When a government’s spending exceeds its revenues causing or deepening a deficit it is called deficit spending. Deficit spending is only one of numerous tools used to help manage the economy. Deficit spending is presumed to stimulate consumer demand by helping the consumer to obtain more money to spend, in turn, the demand of product will rise. There are advantages and disadvantages to deficit spending that we will discuss further below.

The first step to creating the federal government budget is the President submits a budget request to Congress. The executive branch gets requests from the federal agencies saying that different things and projects need money or that they don’t need money. So basically they discuss what project is more important. Yet these are all only proposals so they can either be accepted or denied depending on what the people think the country needs.