FOR IMMEDIATE RELEASE Clinton/Gore Email October 22, 1992 [Statement of George Stephanopoulos, Communications Director] HEALTH COSTS KILLING WORKERS' WAGES A new study released by business and labor leaders today revealed the devastating economic impact of twelve years of Republican failure to control health care costs. According to the study, workers' wages fell between 1980 and 1992 because of skyrocketing health care costs. It found that Republican unwillingness to control costs has forced American working families to take the equivalent of a five percent cut in take-home pay just this year. This is George Bush's hidden tax on families. The study's findings demonstrate that if the Clinton plan to hold health costs down had been in place, workers would have seen no decline in personal wages. In 1992 alone, they would have received close to $900 more in wages. Businesses would have benefited, too. With Clinton's tough cost containment plan, business costs for health benefits would have been $1,000 lower per employee in 1992, and American health costs would have been in line with that of our major competitors. A panel of health experts from Republican and Democratic administrations recently concluded that the Clinton/Gore plan would cover all Americans and save $750 billion by the year 2000. By contrast, it found that the Bush plan would save just $150 billion and still leave 27 million uninsured. The study was unveiled by the Service Employees International Union and Safeway Stores -- representing 55 major companies and numerous labor unions, health care and consumer organizations in the National Leadership Coalition. It was based on data analysis by Lewin-ICF, a nonpartisan health care economics firm. -30-