1999-2000, the administration of President Clinton was celebrating an era of unusually strong economic growth with both strong productivity gains and employment gains. The unemployment rate was around 4 percent, inflation was low, the budget was in surplus and the stock market was high. Incomes had risen for all quintiles of the household income distribution. This was a New Economy, fueled by technological marvels, with the new century offering the promise of even greater things to come.