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If you think Clinton did such a great job with the economy, read this

<WASHINGTON POST>June 2000 President Clinton says that things are good for America. The stock market is climbing, jobs are plentiful, inflation has been reigned in and mortgages are affordable. This sounds good, But, Clinton thinks there are some things that are wrong with this picture. What he fears most is that the American people will figure out what it is between now and the November election.

Clinton's economics advisors realize that The stock market is overvalued and could stumble, and inflation is threatening to cause mortgage rates to suddenly rise sharply before the election.

Clinton's re-election prospects are dimming as problems depress the American middle-class. Corporate layoffs and stagnant wages cause many taxpayers to challenge Clinton's version of the present American economy.

The reason behind the slower than average expansion of the American economy is the unprecedented Clinton tax hike of $241 billion that has cost job growth and economic output. Bob Dole said "This year, `It's the economy, stupid' takes on a whole new meaning," Dole said in a recent speech, referring to Clinton's unofficial 1992 campaign slogan. "Clinton is hoping the rest of us are stupid so we won't notice what a mess he's made of the economy."

For the past five years, large pluralities of Americans have been reporting that they believe the nation is on the wrong track in surveys conducted by Wirthlin Worldwide of McLean, Va.

It happened again in a Wirthlin public poll conducted June 20-23: Only 29 percent of those surveyed said America was headed in the right direction, compared with 64 percent who felt otherwise.

"People are frustrated," said Wirthlin Vice President Bruce Blakeman. "People are frightened by what is happening to the economy as it affects them personally."

Some 62 percent of those surveyed in a Money Magazine/ABC News poll released last week gave the Clinton economy poor marks. Less than three in 10 respondents say they are better off than when Clinton office in January.

The Clinton income tax increase in 1993 that included a 4-cent-a-gallon gasoline tax increase is beginning to be understood as a big hit on middle and lower income voters.

The Clinton 1993 tax increase is costing the economy some $208 billion in economic output and has been the single most significant reason for reducing the new jobs by 1.2 million. The Heritage Foundation said the tax hike cost the average American family $2,600 in higher taxes and lower earnings.

Rising mortgage rates come as inflation is starting to creep upward and wipe other gains in the economy. John E. Silvia, an economist for Zurich Kemper Investments in Chicago, said "If inflation keeps on rising ... in July or August you could have a Fed tightening policy that might shake consumer confidence."

Economics Institute Chief Economist. Howard Hobbs said Saturday "If the bad news does comes before the November election voters will dump the Clinton administration.However, Clinton will attempt to delay the reporting of economic data at the last-minute until after the election."