Changes

Agents of China sought to give contributions to the [[Democratic National Committee]] (DNC) before the [[United States presidential election, 1996|1996 presidential campaign]] in violation of US law barring non-American citizens from donating money to American politicians and political parties.<ref>Woodward, Bob and Duffy, Brian, [http://www.washingtonpost.com/wp-srv/politics/special/campfin/stories/china1.htm "Chinese Embassy Role In Contributions Probed"], ''Washington Post'', February 13, 1997.</ref>

Agents of China sought to give contributions to the [[Democratic National Committee]] (DNC) before the [[United States presidential election, 1996|1996 presidential campaign]] in violation of US law barring non-American citizens from donating money to American politicians and political parties.<ref>Woodward, Bob and Duffy, Brian, [http://www.washingtonpost.com/wp-srv/politics/special/campfin/stories/china1.htm "Chinese Embassy Role In Contributions Probed"], ''Washington Post'', February 13, 1997.</ref>

==1997-2001, U.S. Presidency==

==1997-2001, Second Term U.S. Presidency==

With the [[Cold War]] over, government borrowing and interest rates were much lower, and after the [[Republicans]] won control of Congress the budget was not only balanced but a surplus was produced for the first time in memory. The reasons include reduction in defense spending after the Cold War (from 5% of GDP to 3%), a revenue burst from the [[dot-com bubble]] (the short-lived overexpansion of high tech), restraints on spending imposed by [[Newt Gingrich]] and the GOP Congress, and the fruition of Reagan era tax cuts for business research and development in the consumer electronics (computer and cell phone) industry.

With the [[Cold War]] over, government borrowing and interest rates were much lower, and after the [[Republicans]] won control of Congress the budget was not only balanced but a surplus was produced for the first time in memory. The reasons include reduction in defense spending after the Cold War (from 5% of GDP to 3%), a revenue burst from the [[dot-com bubble]] (the short-lived overexpansion of high tech), restraints on spending imposed by [[Newt Gingrich]] and the GOP Congress, and the fruition of Reagan era tax cuts for business research and development in the consumer electronics (computer and cell phone) industry.