[Congressional Record Volume 140, Number 89 (Tuesday, July 12, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: July 12, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
   THE SINKING ECONOMIC GROWTH RATE UNDER THE CLINTON ADMINISTRATION

  (Mr. GILLMOR asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. GILLMOR. Madam Speaker, economic data now available make it clear 
that the tax increase policies of the Clinton administration and a 
majority in Congress have severely reduced economic growth in America. 
The Democrat tax increase not only takes billions out of the economy, 
it costs individual Americans billions more in a slower economic growth 
rate and a reduced standard of living.
  By what standard do we judge this? We judge it by the standard that 
Bill Clinton himself set when he ran for President. He criticized the 
Bush administration on the rate of growth in 1992 as being too low. In 
fact, the economy grew in each quarter of 1992, and it accelerated as 
the year went on. Growth in the last quarter of 1992 was a robust 5.7 
percent. When the Clinton Democrat tax was proposed and passed, the 
growth rate declined dramatically. In fact, in four of the five 
quarters since Bill Clinton was elected for which figures are 
available, the growth in the economy has been lower than when George 
Bush was in office. The rate in the last quarter was only 3.0, compared 
to 5.7 when Bush left office.
  Despite all the spin control by the Clinton administration, that 
means the economic growth rate under Bill Clinton is down 47 percent 
from the rate under George Bush.

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