ECONOMIC PROGRESS IN OHIO
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 Ohio 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 Ohio:

• Nearly twice as many new jobs per year -- 54,000 vs. 27,725 average during the previous 4 years.
• Over 2 1/2 times as many new private sector jobs per year -- 48,052 vs. 19,000 average during the previous 4 years.
• 16,000 new manufacturing jobs added in 23 months -- after 74,000 lost during the previous 4 years.
• The unemployment rate has dropped three percentage points from 7.0% to 4.0%.
• Business failures have dropped 23%.
• New business incorporations have increased 12%.

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

11 TIMES MORE OHIO FAMILIES RECEIVE A TAX CUT THAN A TAX INCREASE: As a result of the expanded Earned Income Tax Credit, 509,774 working families in Ohio will receive a tax cut. This compares to an increase in the income tax rate for only the 46,217 wealthiest taxpayers in Ohio.

TAX CUT FOR 50,143 SMALL BUSINESSES IN OHIO: The President helped entrepreneurs, proprietors, and other small businessmen and women by expanding the annual expensing allowance from $10,000 to $17,500. About 50,143 small businesses in Ohio are likely to benefit from the expansion of the expensing allowance this year alone and many more will benefit over the coming years.

1,987,000 OHIO 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 1,986,799 workers in Ohio, and protects the jobs of 119,356 workers in Ohio who are likely to use unpaid leave this year alone.

977,900 STUDENTS AND FORMER STUDENTS IN OHIO WILL BE ABLE TO BENEFIT FROM STUDENT LOAN REFORMS: Approximately 977,900 Ohio borrowers -- 684,500 current borrowers and 293,400 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.