Why Clinton Is Smiling

The President is riding a booming U.S. economy to the G-7 summit

In 1990, the last time the leaders of the Group of Seven industrial nations came to the U.S. for their annual economic summit, America was slipping into recession. Playing host in his hometown of Houston, President George Bush had to endure lectures from his European and Japanese colleagues about his government's ballooning budget deficit and its tepid economy.

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