Economy

Empty retail spaces dotting main streets in cities and towns across New Hampshire in the lead-up to the first-in-the-nation Feb. 18, 1992 primary gave clear evidence of the poor state of the economy.  Clinton chief strategist James Carville famously stated, "It's the economy, stupid."  [Carville actually set out three points: "1. Change vs. more of the same; 2. The economy, stupid; and 3. Don't forget health care."]  New England was particularly hard hit by the 1990-91 recession, but the national numbers tell the tale as well:
Percent Change From Preceding Period in Real Gross Domestic Product, 1980-1999.
1980
 1981
 1982
 1983
 1984
 1985
 1986
 1987
 1988
 1989
 1990
 1991
 1992
 1993
 1994
 1995
 1996
 1997
 1998
 1999
-0.3
 2.5
 -1.8
 4.6
 7.2
 4.2
 3.5
 3.5
 4.2
 3.7
 1.9
 -0.1
 3.5
 2.8
 4.0
 2.7
 3.8
 4.4
 4.5
 4.8
Source: U.S. Bureau of Economic Analysis


A review of campaign literature from the primaries shows a heavy emphasis on the economy.
ADVERTISEMENT