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Fact of the Week

Fact of the Week

According to an analysis conducted for the New York Times, the 1990s economic boom was a bust for the middle class and poor in the United States. In Washington, D.C., for example, the average income of families in the wealthiest fifth of the population, once adjusted for inflation, grew to 24 times the average in the bottom fifth, up from 18 times. The Bush Administration and Republicans in Congress have responded to these changes in income by cutting the taxes of the rich, increasing the national debt and tapping social security reserves to cover budget deficits.

Source: New York Times, 31 August 2001.

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