News Releases
Spratt, Fowler Urge SC Voters to Choose a Better Economy
September 23, 2008
Columbia, SC- Two of South Carolina's top Democratic leaders urged residents Tuesday to vote for Democrats as a first step to put the state back on the road toward prosperity.
State Democratic Party leaders Congressman John Spratt and South Carolina Democratic Party Chair Carol Fowler urge voters to consider the economy when choosing the country's next president.
"There's a lot at stake with this year's election, but the economy is one of the most important issues voters must think about. More than 165, 400 South Carolinians are currently unemployed. Neither these residents nor their families can afford four more years of failed Republican economic policies," Fowler said.
She encourages voters to compare the economic plans of presidential candidates Barack Obama and John McCain before voting this November.
"I think voters will definitely notice that only one of these plans would result in economic progress and it's not McCain's. They will also see a difference between Democrats and Republicans," said Fowler.
Spratt, who chairs the House Budget Committee, agrees there is a major difference between the two parties when it comes to the economy.
"When it comes to the economy, the difference between Democrats and Republicans is day and night. Here are the facts: President Clinton turned record deficits into record surpluses, and left our economy moving in the right direction. From 1998 to 2001, $400 billion of Treasury debt was paid off. Under his policies, America enjoyed four consecutive years of budget surpluses, and unemployment was a low 4.2 percent compared to the current 6.1 percent.
"After eight years of President Bush, virtually every major economic indicator is moving in the wrong direction. Unemployment and inflation are both now about six percent. Real hourly earnings have fallen for nine straight months and home prices have fallen for 18 straight months, to a level that is 17 percent below a year ago.
"This Administration has racked up more debt than any Administration in history, excepting only World War II, and the debt comes with a big price tag. The government is spending between $300 and $400 billion a year just to service the national debt. The greater the debt, the greater the government's borrowing costs, and the less it has to spend on education, health care, roads, research, development, and innovation.
"The Bush Administration leaves a dismal economy, and dismisses the budget for its successors to sort out," said Spratt.
