negative sir, business cycles are made not just a random event
1) Interest rates were at a higher level starting in 1992. They began to raise after the mini recession of 1991. Bush Sr. had to raise rates to cool off the economy from the late 80s...Clinton implimented some nice fiscally responsible government spending. To spark the rally in 1994 Greenspan slashed rates at a very fast rate. This sparked an upsurge of growth and corporate spending (cheaper for companies to borrow).
2) The internet and technology made leaps in the early 90s and corporations needed to upgrade all their equipment. Government encouraged spending.
3) NAFTA was signed i believe in 1996 and this led to a huge slash in corporate costs and expenses. This cuased products to carry a lower price tag, thus keeping inflation at an all time low. This exporting of jobs that quite frankly, noone would do in the US for the wages we wanted to pay, led to an INCREASE in jobs in the service industry and sales industry....
4) Clinton benefitted from a conservative fiscal policy, backed by a surplus in spendable cash, supported by an EXTREMELY fixcally conservate Fed Board (Greenspan) who is the first Fed Director to be proactive versus reactive when it comes to the economy.
5) Clinton's momentus "I balanced the budget" was a complete smoke and mirror job in itself. it involved him selling 30 year treasury bonds to help offset the costs in the current year. He was essentially borrowing from Peter to pay Paul. Granted, as a Republican myself, i DO give Clinton MUCH props for doing an outstanding job with the economy and pocketbooks of Americans....
