ECONOMIC PROGRESS IN GEORGIA
UNDER PRESIDENT CLINTON

President Clinton's strategy to strengthen the economy is based on reducing the federal budget deficit, lowering trade barriers, and empowering workers, families, businesses and communities to succeed. Here are some of the results for the nation and Georgia after the first two years of the Clinton Administration:

Improved Economic and Fiscal Conditions in the United States:

• Under Clinton Economic Plan, the deficit will be lowered by more than $600 billion -- the deficit will be cut for three years in a row for the first time since Harry Truman was President.
• Almost 6 million new jobs created -- private sector job growth rate 8 times faster than during previous Administration.
• Federal government workforce will drop by 272,900 -- creating lowest workforce since the Kennedy Administration.

Improved Economic Conditions in Georgia:

• Over 4 1/2 times as many new jobs per year -- 144,887 vs. 32,025 average during the previous 4 years.
• Over 5 1/2 times as many new private sector jobs per year -- 127,670 vs. 22,075 average during the previous 4 years.
• 24,700 new manufacturing jobs in 23 months -- after 18,400 lost during the previous 4 years.
• The unemployment rate has dropped from 6.1% to 4.8%.
• Business failures have dropped 24%.
• New business incorporations have increased 12%.

What President Clinton's Accomplishments Have Achieved for the People of Georgia:

17 TIMES MORE GEORGIA FAMILIES RECEIVE A TAX CUT THAN A TAX INCREASE: As a result of the expanded Earned Income Tax Credit, 537,103 working families in Georgia will receive a tax cut. This compares to an increase in the income tax rate for only the 31,709 wealthiest taxpayers in Georgia.

TAX CUT FOR 33,229 SMALL BUSINESSES IN GEORGIA: The President helped entrepreneurs, proprietors, and other small businessmen and women by expanding the annual expensing allowance from $10,000 to $17,500. About 33,229 small businesses in Georgia are likely to benefit from the expansion of the expensing allowance this year alone and many more will benefit over the coming years.

1,180,000 GEORGIA WORKERS PROTECTED BY FAMILY AND MEDICAL LEAVE ACT: The Family and Medical Leave Act allows workers to take up to 12 weeks of unpaid leave for the birth of a child, to care for a sick family member, or if they become too sick to work. This law covers about 1,180,079 workers in Georgia, and protects the jobs of 70,892 workers in Georgia who are likely to use unpaid leave this year alone.

234,600 STUDENTS AND FORMER STUDENTS IN GEORGIA WILL BE ABLE TO BENEFIT FROM STUDENT LOAN REFORMS: Approximately 234,600 Georgia borrowers -- 164,200 current borrowers and 70,400 new borrowers in the next few years -- can take advantage of the new direct student loan program by participating directly in the program or by consolidating guaranteed loans into direct loans. Some will benefit from lower interest rates, and all will benefit from more repayment options, including income contingent repayment.