Summary of Crash Course, 45. the Clinton Years, or the 1990s
After eight years, the results of President Clinton's economic leadership are clear. Record budget deficits have become record surpluses, 22 million new jobs have been created, unemployment and core inflation are at their lowest levels in more than 30 years, and America is in the midst of the longest economic expansion in our history.
He was reelected in 1996, becoming the first Democrat since Franklin D. Roosevelt to serve two terms as president. He is married to Hillary Rodham Clinton, who represented the state of New York in the US Senate before becoming Secretary of State during the Obama administration.On January 1, 1994, President Clinton signed into law the North American Free Trade Agreement (NAFTA), which eliminated barriers to trade and investment between the United States, Canada, and Mexico. Though some have criticized NAFTA for moving jobs out of the United States, the overall economic impact of the agreement has been mostly beneficial, not only for the United States, but for Canada and Mexico as well. The Gross Domestic Product (GDP) of all three countries grew as a direct result of NAFTA, while trade and investment flourished and some industries that were expected to decline instead thrived as never before (William A. Orme, Jr., 1996).
But as we became more globally connected political divisions grew within the United States. And this became especially problematic because with the growth of the Internet it was easier than ever to only hear voices that you already know you agree with. To live inside of an echo chamber where your news doesn’t necessarily resemble your neighbor’s news.
William A. Orme, Jr., Understanding NAFTA: Mexico, Free Trade, and the New North America (Austin: University of Texas Press, 1996)
Peter Baker, The Breach: Inside the Impeachment and Trial of William Jefferson Clinton (New York: Scribner, 2012).
John F. Harris, The Survivor: Bill Clinton in the White House (New York: Random House, 2005).