President Clinton: An Unforgiving Presidency Essay

1420 words - 6 pages

On August 19, 1946, in Hope Arkansas, William Jefferson Blythe III, later after taking his stepfather’s family name becoming William Jefferson Clinton, was born. Forty-six years later the Nation would see Clinton become the 42nd President. On his way to the Oval office Clinton graduated with a Bachelor in Science from Georgetown University, attended Oxford University on a coveted Rhodes scholarship, earned his Juris Doctor degree from Yale Law School and served twelve, inconsecutive, years as Arkansas’s Governor. Upon entering office in 1993, Clinton was confronted with many challenges. Most concerning, was the National Deficit and welfare reform, which, along with his promiscuities, he would soon become equally admired and criticized. In order to understand how Clinton became arguably one of the most highly recognized Presidents of the past half century, after becoming the second President to be impeached, his efforts to reduce the deficit, reconstructed welfare along with his role and the public’s opinion regarding the Monica Lewinski scandal must be examined.
Former President Clinton’s first term posed many new challenges; undoubtedly, the most challenging was America’s economy, particularly the overwhelming deficit, totaling $290 billion. In response, Clinton shaped a budget plan, known as the Deficit Reduction Act of 1993, which projected to reduce the deficit by $500 billion over a five-year time span. In order to accomplish this feat, Clinton’s plan proposed to increase the marginal tax rate for incomes over $180,000 by five percent with an additional ten percent increase for incomes over $250,000 annually. In addition, the proposal required a two percent increase earning over $10 million annually. Furthermore, from this budget plan intended on ending some corporate subsidies, called to tax Social Security for higher income earners and generated an earned income tax credit for incomes under $30,000 annually. In August of 1993, Clinton’s plan passed through Congress; the following year his plan verified its effectiveness as the national deficit dropped $87 billion to $203 billion. The Clinton administration’s budget plan continued its success and by 1999, tax revenues were generating a $124,000 billion surplus.
Despite reduction to the deficit and an increase in the national surplus due to the Deficit Reduction Act of 1993, Clinton critics insist this act was a failure rather than a success. The initial criticism highlighted the fact that Clinton broke his Presidential campaign promise of a tax-break for the middle-class. While their accusations are true, the Clinton administration broke that promise only after heavy debate on which option would be the best for America’s economy stimulating the economy to pull it out of recession, enabling a middle-class tax break, or attacking the deficit to ensure future stability of the Nation’s economy. By carefully weighing both options the administration found that, the consequences of not...

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