The great economy of the Clinton years was a result of the 12 years of Republican reform which saw drastic reduction in taxes by reduction of government waste, and significantly lowered interest rates for loans. Prior to his taking office, interest rates on mortgages hovered in the 14-16% range if buyers were LUCKY. Clint sailed on the wave that had predated him, because he had a pretty boy smile and a knack for using all three sides of his mouth.