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WINNERS AND LOSERS UNDER CLINTON
(FORTUNE Magazine) – -- Maya Angelou The poet's reading of her poem ''On the Pulse of Morning'' at the new President's Inauguration revitalized sales of her 1970 autobiography, I Know Why the Caged Bird Sings. The paperback spent most of 1993 on the New York Times best-seller list. -- Social Security Trust Fund After Zoe Baird and Kimba Wood got into trouble on this front, some other Americans with household help were inspired to whip out their checkbooks. By mid-1993, the number of taxpayers forking over ''nanny tax'' was up 13%. -- McDonald's Nothing like a presidential stamp of approval to beef up sales; they're up 8% in the first three quarters of 1993, and Bill's occasional Big Mac attacks didn't hurt. Some Americans may even have confused McDonald's advertising slogan -- ''Food, folks, and fun'' -- with Clinton's campaign theme. -- NAFTA and GATT Adam Smith would have been proud. Free trade scored two resounding victories after Clinton's full-court press on the North American Free Trade Agreement and international accord on the General Agreement on Tariffs and Trade. -- Info superhighway Anybody who is anybody has an E-mail address these days -- to wit, president whitehouse.gov. Communications, technology, and entertainment companies are dizzy with the prospect of new ways to reach customers and their wallets. -- Expense-account restaurants ''Fly the Concorde, take a luxury limo, stay in a four-star hotel, and have a burger for dinner. Everything is 100% deductible except the burger,'' complains one foodie. Estimated losses from the reduction of the business-meal deduction from 80% to 50%: $3.8 billion in annual sales and 165,000 jobs. -- Drug companies What a bitter pill to swallow. Clinton's health care reform prescribes Medicare rebates, generic substitutes, and reduction of ''excessive'' prices. Drug company stocks have plunged as a result. Merck is down 25% since last January. -- Haitian boat people Clinton's about-face on his campaign pledge was a wrenching disappointment to thousands of Haitians hoping for political asylum in the U.S. Boat people, intercepted by the Coast Guard, are again routinely turned back. -- Supercollider No more money for the $11 billion physics project that has thus far created a $2 billion hole in the ground. Clinton supported it, but Congress says we can't afford a particle smasher when we're $4 trillion in the hole as it is. -- Ross Perot His popularity rating plummeted to 35% after the televised NAFTA debate. The giant sucking sound turned out to be his own political credibility deflating.Jacqueline M. Graves |
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