E-Commerce
In 1992, America was under economic distress and uncertainty as a country. America had experienced high unemployment, big deficits, high interest rates, low productivity gains and falling real wages for average Americans. After twelve years of national drift and economic decline, President Clinton charted a path to growth with the "New Directions" economic plan designed to create jobs, boost incomes, move our economy from consumption to investment, and reduce our deficit. His three-part economic strategy focused on three objectives: fiscal discipline, investing in education, health care, science and technology, and opening foreign markets. This strategy has helped foster the conditions for what is now the longest expansion in US history.
Inflation remains virtually non-existent, with the underlying core rate of inflation at 1. Information Technology has helped transform the economy. This is the season for renewal, thus, a new direction for all of us. By eliminating hundreds of programs, the investment in education and training has doubled. set out to rid our economy of its deficit and get interest rates back down and investment up. The National Debt should be eliminated by Y2015 if we stay on track with this economic plan. Information Technology has made a crucial contribution to the new economy, helping fuel record growth, higher wages, and changes in the way business is done throughout the economy. It cut the price of the average home mortgage, the price of the average car payment and the average college loan repayment. The Clinton-Gore Administration has opened foreign markets for high tech goods, cracked down on foreign piracy and liberalized export controls on computers and telecommunications equipment. Adjusted for inflation, American companies invested three times more in Information Technology in 1999 than in 1992. In the last two years, GDP inflation was lower than at any time since 1963. At the same time negotiating over 270 trade agreements, including those involving high technology issues. As a result of these actions America is now experiencing a virtuous cycle of progress and prosperity that few could imagine. Declining Information technology prices have lowered the overall inflation rate by nearly one percentage point.
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,
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