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Alan Greenspan |
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| As chairman of the Federal Reserve Board, Alan Greenspan convinced newly elected U.S. president Bill Clinton that reducing the federal deficit should be his highest economic priority. Clinton proposed a budget that cut spending and raised taxes to try to cut the deficit. In 1998 the United States experienced its first budget surplus since 1969. | ||||||
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| REUTERS/THE BETTMANN ARCHIVE | ||||||
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| Clinton, Bill; Greenspan, Alan; Federal Reserve System; United States (Economy) | ||||||
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