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The American economy is healthier than it was four years ago, and that will apparently be enough to win reeleclion for President Bill Clinton.
Employment is up; unemployment is down; inflation is low, and the deficit has been slashed. Unfortunately not all the news is this rosy. Too few of the 10.5 million jobs added to the economy during the past four years pay enough, to support a family, and Sen. Dole is right, most families require two workers: But it is low wages, not high taxes, that has caused this change.
There is no question that global competition has brought lower wages in manufacturing, and it is beginning to reduce wages in the service economy also. Americans can take some satisfaction that they have come through this with less unemployment than many of our European partners, but it is a painful process made more painful for many people because a few people at the top of the economic heap are doing very well indeed.
President Clinton and the Democrats seem to understand this. Sen. Dole and. the Republicans do not.
In what appears to be a desperate attempt to win the election, Sen. Robert Dole, who made his reputation in the U.S. Senate as a deficit hawk, is proposing a large tax reduction. Most voters are skeptical of this. Those who believe he just might do it if elected, worry that it would simply increase the deficit, driving up interest rates and inflation.
Sen. Dole has given the voters no reason to believe they would be better off if he is elected President and many reasons to fear they might well be worse off. Bill Clinton’s steady economic course has earned him a second term.
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