Paper Summary:

This paper examines the United States' past and future economic policy, with the purpose of recommending future economic policy to the President of the United States. The first part of this paper summarizes economic development over the past ten years. This includes unemployment, deficit spending, trade imbalance, and inflation. Part Two of this paper suggests economic policy direction for the coming years.

From the Paper:

"There are a number of given reasons by economists to explain the end to the economic expansion that the nation experienced during most of the Clinton years. Some blame the Federal Reserve, (Solmon, Zycher, 2001) for the downturn in 2000. Alan Greenspan is credited by many for excellent stewardship of the nations economic health during the 1990s. However, starting in 1999 and into 2000 many point to Greenspan's hiking of the interest rate one or two times too many in contributing to the reversal of economic fortune in the country. To compound to problem, he then waited too long to reverse the interest rate hikes as the economy softened. (Solmon, Zycher) The Federal Reserve Board eventually brought the interest rate down to 45-year lows, but the benefits of "cheap" money has taken a while to kick in."

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