"The economic recovery, which really didn't happen until 1995 or so, was (as I think you indicate) the result of a pro-business GOP Congress and an accommodating Clinton Administration.
Always amazed when I read about the good old Republicans influence on the Clinton economic reversal.
The key piece of legislation that brought an end to the egregious excesses of the Reagan-Bush years of serial brain farts, is generally recognized as the Omnibus Budget Reconciliation Act of 1993, signed into law by Clinton on August 10, 1993.
This law is discussed on Wikipedia here:
en.wikipedia.org
Of particular interest to those who would rewrite history, somehow crediting the GOP for this wisdom need to note the following sentences:
Legislative history
"Ultimately every Republican in Congress voted against the bill, as did a number of Democrats. Vice President Al Gore broke a tie in the Senate on both the Senate bill and the conference report. The House bill passed 219-213.[1] The House passed the conference report on Thursday, August 5, 1993, by a vote of 218 to 216 (217 Democrats and 1 independent (Sanders (VT-I)) voting in favor; 41 Democrats and 175 Republicans voting against), and the Senate passed the conference report on the last day before their month's vacation, on Friday, August 6, 1993, by a vote of 51 to 50 (50 Democrats plus Vice President Gore voting in favor, 6 Democrats (Lautenberg (D-NJ), Bryan (D-NV), Nunn (D-GA), Johnston (D-LA), Boren (D-OK), and Shelby (D-AL) now (R-AL)) and 44 Republicans voting against). President Clinton signed the bill on August 10,1993." |
