The economic slowdown underscores the deceptive character of the campaigns of Bush and Democratic candidate Al Gore, who both concealed from the American people the extent of the looming economic crisis. Instead they based their promises on false projections of an expanding economy and continued budget surpluses. Whatever meager spending proposals were made for education, health care and Social Security will now be scrapped.
At the same time President-elect Bush has reiterated his determination to push for his $1.3 trillion tax cut, a measure he and his supporters cynically claim is needed more than ever because of signs of a recession. Such a measure would guarantee greater riches for the wealthy elite while the majority of American people suffer the consequences of a serious economic downturn without the benefit of a social safety net.
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