Where Bob Dole Stands on the Economy

Where Bob Dole Stands on Economy

Bill Clinton's Policies Have Caused Stagnant Economic Growth
In 1990, when the economy was growing at 3.7 percent, Bill Clinton said that we had "the worst economy in 50 years." In the last three years, the economy has grown at an anemic 2.4 percent -- two full percentage points lower than the average recovery growth rate since World War II.

Because of this slower economic growth rate, the American people are suffering from stagnant family income, shrinking wages, the highest tax burden in history, an increased number of bankruptcies, and an increased number of people living in poverty.

After adjusting for inflation, median household income under the Clinton Administration in 1994 was $97 less than what it was in 1992.
The Employment Cost Index, used by the Labor Department to measure both wages and benefits, rose less than one-half of 1 percent in 1995 -- the slowest growth in 14 years.
The typical American family pays more in total taxes than it spends on food, clothing, and housing combined -- 38 percent vs. 28 percent.
1996 is expected to be the first year in American history when more than 1 million people declare personal bankruptcy.
More Americans live in poverty today than at any time during the previous two administrations.

Bob Dole Has a Solid Pro-Growth Economic Record
Bob Dole is a proven leader in the effort to increase economic growth. He has:

Proposed a plan to balance the budget by 2002 -- the first balanced budget since 1969 -- which includes tax cuts for working American families.
Sponsored Balanced Budget Amendments as early as 1971.
Introduced and shepherded the enactment of President Reagan's Economic Recovery Tax Act, the largest tax cut in American history, which has already saved taxpayers more than $2.5 trillion.
Expanded Individual Retirement Accounts.
Supported the SIMPLE pension plan for small businesses, increasing the amount that self-employed individuals can deduct for their health insurance premiums.
Fought for estate-tax relief for family-owned businesses.

A Dole-Kemp Economic Growth Plan Will Help All Americans
The Dole-Kemp economic growth plan is designed to achieve an annual growth rate of 3.5 percent per year. While that goal is ambitious, America can reach that rate of growth with the right policies. What would it mean for America's families?

Like all great economic reforms, the effects would ripple out into the American economy, helping in time every household. For example, a growth rate of 3.5 percent per year would double the real income of the average American citizen within a generation:

Median family income is now about $40,000 per year. If America achieves the goal of a 3.5 percent annual growth rate, the median family income for the next generation will be about $80,000 per
year, adjusted for inflation.
Per capita income would rise from $17,000 today to $34,000.

A Better America
A Dole-Kemp Administration will return power to the engine of the American economy -- the American worker. Bob Dole and Jack Kemp will help create higher wages, higher incomes and more take-home pay for all Americans. Workers will benefit from the greater productivity of the workforce and the increased profitability of businesses across America. More Americans will be able to save and invest in the future.

More opportunities. Smaller government. Stronger and safer families

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