Tax cuts go only to the top. It cannot be a coincidence that these people dominate the ranks of Congress's campaign contributors. The minimum wage fails to lift a family out of poverty. College loans cost more. The 1993 Budget Act had called for a substantial cut in rates, but before that took effect, in the spring of 1998, the banks struck back, neutralizing that cut and bumping the effective rate up significantly.
More people arc trapped by crippling deficits.
More than a million people filed for bankruptcy in 1999, but despite these dire straits, Congress is on the verge of passing legislation that will drastically limit who is allowed to be released from debt by filing for bankruptcy. The bill passed by the House gives credit-card companies the right to challenge bankruptcy filings and gives them an equal claim on debtors' assets with former spouses seeking child support. Banks get to double-charge you. Cable TV bills have skyrocketed. In the summer of 1998, the Senate killed a proposal that would have simply asked the FCC to study rising cable rates.