ELLEN FRANK

05/13/03

Ellen Frank, professor of economics at Emmanuel College in Boston and author of the forthcoming book, "Money Illusions," said today: "Bush's economic plan is unlikely to create jobs or growth as he claims. His plan centers on giving more money to wealthy investors with the supposition that they will invest this excess windfall in projects which will create jobs and growth. The reality is that wealthy investors are already swimming in money and unable to find sustainable growth avenues for their excess cash... The terrible job market may squeeze wages, and with proposed tax cuts and Federal spending increases on items beneficial to some corporate interests, business profits might recover. But in the meantime, working families are falling further into poverty and debt -- quite possibly we are looking at a period of sustained unemployment and job insecurity."

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