The Economy

The Democratic Party is the Party of fiscal responsibility, committed to promoting long-term economic growth. Under President Clinton, this country experienced the longest economic expansion in history, creating 22 million new jobs and going from record budget deficits to record surpluses. Now, as America faces the challenge of the first recession in 10 years, Democrats are fighting to provide real economic stimulus that follow key principles: any stimulus efforts be immediate, temporary and targeted. Democrats have proposed immediate tax relief for businesses to spur job creation and capital investment and tax relief for middle and lower income workers (the people most likely to put the money back into the economy). Democrats also believe in helping laid off workers and families struggling to make ends meet and health coverage assistance for laid off workers.

In just one year, President Bush and congressional Republicans have managed to undo eight years of hard work and fiscal discipline. Bush's policies have already wiped out our hard gained surpluses, returned the nation to deficit spending, put Social Security in danger and slowed down efforts to pay down the national debt. One year into the Bush Administration, more than one million jobs were lost, the unemployment rate increased by 1.8 percent and about 2.6 million more people became unemployed. Now that the country is in a recession, President Bush and Republicans have proposed an economic plan that does little to stimulate the economy and consists mostly of giving profitable corporations and wealthy individuals $100 billion in tax cuts.