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'''Bill Clinton''' (formally '''William Jefferson Clinton'''; born William Jefferson Blythe III) (b.August 19, 1946),was president of the United States, elected with pluralities in 1992 and  1996. Previously he had served as governor of Arkansas. In the post-[[Cold War]] era his administration was characterized by reduced defence spending which produced a budget surplus, lower [[interest rate]]s and excessive stock and real estate and bubbles.  The U.S. House of Representatives impeached Clinton for [[obstruction of justice]] and [[perjury]], while the Senate failed to convict, and he served out his term.  Clinton was later found in contempt by a federal judge for lying under oath and he subsequently was disbarred for ethical violations. Like Ronald Reagan and Barack Obama, Clinton used his rhetorical skills to achieve political success; he survived despite legislative defeats, repeated scandal (he was notorious for his [[sexist]] improprieties) and an actual impeachment.<ref> Whittington (1997)</ref>   

'''Bill Clinton''' (formally '''William Jefferson Clinton'''; born William Jefferson Blythe III) (b.August 19, 1946),was president of the United States, elected with pluralities in 1992 and  1996. Previously he had served as governor of Arkansas. In the post-[[Cold War]] era his administration was characterized by reduced defence spending which produced a budget surplus, lower [[interest rate]]s and excessive stock and real estate and bubbles.  The U.S. House of Representatives impeached Clinton for [[obstruction of justice]] and [[perjury]], while the Senate failed along party lines to convict along party lines.  Clinton was later found in contempt by a federal judge for lying under oath and subsequently was barred from ever practising law again. Like Ronald Reagan and Barack Obama, Clinton used his rhetorical skills to achieve political success; he survived in office despite legislative defeats, repeated scandal (he was notorious for his [[sexist]] improprieties) and an actual impeachment.<ref> Whittington (1997)</ref>   

After leaving the White House, he became a very well-paid speaker. His wife, [[Hillary Rodham Clinton]], was elected to the Senate from New York in 2000 and 2006, and in 2009 became the third female Secretary of State. Clinton was the major fundraiser and campaigner for his wife, but failed to win the African American vote to neutralize Hillary's main opponent, [[Barack Obama]] in the 2008 Democratic presidential primaries.

After leaving the White House, he became a very well-paid speaker. His wife, [[Hillary Rodham Clinton]], was elected to the Senate from New York in 2000 and 2006, and in 2009 became the third female Secretary of State. Clinton was the major fundraiser and campaigner for his wife, but failed to win the African American vote to neutralize Hillary's main opponent, [[Barack Obama]] in the 2008 Democratic presidential primaries.

===Mexican Peso bailout===

===Mexican Peso bailout===

=== Taxes increases ===

=== Taxes increases ===

[[Image:ClintonPresident.jpg|right|thumb|275px|Bill Clinton's Presidential cabinet]] Clinton's first priority while coming into office was the economy. In an attempt to lower [[interest rates]] Clinton sent Congress a deficit reduction plan in early 1993. However, Clinton's problem was that about half of government money goes to entitlement programs such as [[social security]] and [[medicare]]. Refusing to cut domestic spending, he increased taxes on gasoline, heating oil, and natural gas, breaking his campaign pledge not to raise tax rates. On Aug. 10, 1993, the largest tax increase in history was signed into law, raising taxes by almost $280 billion over five years.<ref>J.D. Foster, Ph.D. [http://www.heritage.org/research/reports/2008/03/tax-cuts-not-the-clinton-tax-hike-produced-the-1990s-boom#_ftn1 Tax Cuts, Not the Clinton Tax Hike, Produced the 1990s Boom], ''The Heritage Foundation'', March 4, 2008.</ref> Instead of middle-class tax relief, President Clinton chose to include in his $241 billion tax plan higher federal gasoline taxes, tax hikes on Social Security recipients, and steep income tax hikes on small business owners.<ref> ''The President's Forgotten Middle Class,'' Joint Economic Committee, Majority Staff, 3/22/96.</ref> Conservatives blocked some proposals, such a new $71 billion [[BTU energy tax]] that would have cost the typical family nearly $500 per year.

Clinton sent Congress a deficit reduction plan in early 1993. However, Clinton's problem was that about half of government money goes to entitlement programs such as [[social security]] and [[medicare]]. Refusing to cut domestic spending, he increased taxes on gasoline, heating oil, and natural gas, breaking his campaign pledge not to raise tax rates. On Aug. 10, 1993, the largest tax increase in history was signed into law, raising taxes by almost $280 billion over five years.<ref>J.D. Foster, Ph.D. [http://www.heritage.org/research/reports/2008/03/tax-cuts-not-the-clinton-tax-hike-produced-the-1990s-boom#_ftn1 Tax Cuts, Not the Clinton Tax Hike, Produced the 1990s Boom], ''The Heritage Foundation'', March 4, 2008.</ref> Instead of middle-class tax relief, President Clinton chose to include in his $241 billion tax plan higher federal gasoline taxes, tax hikes on Social Security recipients, and steep income tax hikes on small business owners.<ref> ''The President's Forgotten Middle Class,'' Joint Economic Committee, Majority Staff, 3/22/96.</ref> Conservatives blocked some proposals, such a new $71 billion [[BTU energy tax]] that would have cost the typical family nearly $500 per year.

====Tax increases on the elderly====

====Tax increases on the elderly====

In their first 100 days the House did pass the Contract with America, however, the GOP Senate failed to go along and Clinton's vetoes defeated the Contract.

In their first 100 days the House did pass the Contract with America, however, the GOP Senate failed to go along and Clinton's vetoes defeated the Contract.

==1996 Reelection Campaign==

==1996 Reelection campaign==

[[File:ECON1994.jpg|thumb|390px]]

[[File:ECON1994.jpg|thumb|390px]]

After the Republicans took control of Congress by the time of the 1996 reelection campaign the economy had improved. [[Unemployment]] and inflation was low, American wages increased, crime rates fell, and the number of people on welfare declined. The [[Republican Party]] nominated Senate Majority Leader [[Robert Dole]]. Ross Perot ran again, this time on the Reform Party, but his day was past. Clinton was reelected in a landslide with 49% of the popular vote, to 41% for Dole, and 8% for Perot. His personal victory had limited coattails, with Republicans retaining a clear majority in the Senate and a narrow majority in the House. It also marked the first time since 1926 and 1928 that the Republican Party carried the House in two consecutive elections.<ref>http://pqasb.pqarchiver.com/bostonherald/access/17342942.html?dids=17342942:17342942&FMT=ABS&FMTS=ABS:FT&type=current&date=Nov+11%2C+1996&author=Don+Fedr&pub=Boston+Herald&desc=A+night+to+cheer+for+conservatives&pqatl=google</ref>

After the Republicans took control of Congress by the time of the 1996 reelection campaign the economy had improved. [[Unemployment]] and inflation was low, American wages increased, crime rates fell, and the number of people on welfare declined. The [[Republican Party]] nominated Senate Majority Leader [[Robert Dole]]. Ross Perot ran again, this time on the Reform Party, but his day was past. Clinton was reelected in a landslide with 49% of the popular vote, to 41% for Dole, and 8% for Perot. His personal victory had limited coattails, with Republicans retaining a clear majority in the Senate and a narrow majority in the House. It also marked the first time since 1926 and 1928 that the Republican Party carried the House in two consecutive elections.<ref>http://pqasb.pqarchiver.com/bostonherald/access/17342942.html?dids=17342942:17342942&FMT=ABS&FMTS=ABS:FT&type=current&date=Nov+11%2C+1996&author=Don+Fedr&pub=Boston+Herald&desc=A+night+to+cheer+for+conservatives&pqatl=google</ref>