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Morning News

Election 2000: Gore Set to Announce Sweeping Economic Plan

Aired September 6, 2000 - 9:30 a.m. ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

BILL HEMMER, CNN ANCHOR: In an event that starts any minute now, the Democrat, Al Gore, set to unveil a sweeping economic plan that he calls "Prosperity for America's Families." His speech expected around 9:45 a.m., about 15 minutes away, and we will bring that to you live when it happens out of Cleveland.

The ambitious goals in Gore's plan include erasing the federal debt, increasing family savings, raising family incomes, reducing poverty, and protecting Social Security and Medicare surpluses -- a 10-point economic plan.

For more perspective on the plan, let's check in with our CNN senior political analyst Bill Schneider up in Washington.

Bill, good morning.

WILLIAM SCHNEIDER, CNN SENIOR POLITICAL ANALYST: Good morning, Bill.

HEMMER: A whole lot of things on this list. Is it possible, running the risk here of promising too much for too many?

SCHNEIDER: Well, that's the charge that's been leveled against Vice President Gore, but he's trying to protect himself by saying he's going to put away, put aside a "rainy day fund" as a hedge against bad economic times.

What he's essentially doing is elaborating both ambitious goals and a very cautious plan that will reduce the national debt, in fact eliminate it by the year 2012, and put aside some of that surplus so that if budget surplus projections are lower than expected, there'll be money there and the country won't have to go into deficits again.

HEMMER: As we know, bill, one of your jobs, one of your primary jobs is to stay in touch with the voters, get the pulse in what they're thinking and feeling. Who do they believe right now, Al Gore or George Bush, is better capable of handling the economic matters of the nation?

SCHNEIDER: Well, actually, it's very close. And that's a surprise because the economy has been very good, and therefore you would expect people to say, well, Gore will manage the economy better.

But yet, for most of this year, Gov. Bush was considered better at managing the economy. And it's only been since the Democratic convention in the last two weeks that Gore has really moved up and gained some credibility. And he's trying to really play on that to get some traction on this economic issue. And that's one of the reasons why Gore said that his economic plan, he doesn't want people to vote for him because of the previous performance of the economy -- that's Clinton -- he wants people to vote for him because they have confidence in how he'll do in the future, and that's why he's elaborating this rather ambitious set of proposals.

HEMMER: And the ball appears to be moving from both men throughout the week. We're on prescription drugs, George Bush is on military, Al Gore is on the economic situation. So we shall see. Stand by.

SCHNEIDER: Who says this is not substantive?

HEMMER: Right, indeed. Bill, thanks. Stand by. Again, we'll talk later with Al Gore's speech from Cleveland, Ohio.

For an online look, though, at Gore's economic plan and the rest of the campaign news, log on to our Web site, as always, CNN.com. And you can look at the specifics of Gore's 10 economic goals and also see why Bush says his own plan is better. All that, CNN.com, for you right there online.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com

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