Meanwhile, Big Business and the capitalists were given major tax cuts. It's no accident that the real income of U.S. workers has declined every year in the last 20 years. This decline is accelerating. This was caused directly by the Democrats and Republicans who deregulated the banking industry and then took millions in political contributions from these speculators and thieves. This, of course, didn't stop Clinton's multi-millionaire Treasury Secretary Robert Rubin to propose last month that banks be allowed to buy insurance and stock companies and that regulation of these new commercial giants be limited.
Attacks continue The attacks on working people continue.
Rather than going after the 3 percent of the U.S. population who have nearly 50 percent of the income and own more than 53 percent of the stocks, bonds, and real estate, the politicians now say that there must be major cuts in social programs, health and safety regulations, housing, and education. Clinton and the Democrats are aligned with the Republicans in this assault. The amendment would force hundreds of billions of dollars in budget cuts by the year 2002 in social security, education, health, and welfare programs. A taste of what's in store can be found in recent Congressional action. Emergency funding for fuel for the poor during the winter has been slashed, along with a multitude of other basic support programs such as school lunches.