Volume 47, Number 16 · October 19, 2000
Gore vs. Bush: The Difference
By Benjamin M. Friedman
October 16, 1996: The US economy was in its sixth consecutive year of expansion. Only 5.2 percent of the labor force was unemployed, at that time nearly as low a rate as at any point since before the OPEC cartel raised oil prices in 1973. Inflation during the previous twelve months had been just 3.0 percent. Profits earned by American corporations had risen 75 percent since 1992. The Dow Jones index closed that day at 6,020; stock prices had doubled since 1992. Staring straight into the camera, with a television audience of over 100 million for his second live debate with President Clinton, Senator Bob Dole announced, 'We have the worst economy in a century.'
Feature, 6089 words
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