Gore’s 10 Goals for Increasing America’s Economic Prosperity

In his speech outlining his economic plan, Vice President Al Gore said he would leave $300 billion of the expected federal surplus unspent as a hedge against overly sunny economic forecasts. He also laid out 10 economic goals he said he would achieve as president:

* Eliminate the federal debt by 2012, with most paid by 2010.

* Place Social Security and Medicare projected surpluses in a “lock box” to prevent their use for anything besides shoring up the two programs.

* Increase real family income by a third over the next decade, from this year’s average of $47,000. Aides said a combination of productivity increases and new worker training would make that happen.

* Boost home ownership to 70%, largely by paying off federal debt and thus keeping interest rates low. Gore also wants to boost low-income tax credits and increase community investment incentives for lenders.

* Reduce poverty rates to below 10%, largely by increasing the minimum wage, bolstering welfare-to-work efforts and increasing Social Security benefits for elderly women.

* Double the number of people with accumulated savings of more than $50,000. There are currently 32 million such families, and Gore said he would boost that number largely through new retirement savings incentives he has proposed.

* Increase college attendance and graduation rates. Currently, 67% of high school seniors go to college. Gore wants to increase that to 75%. His key proposal is to make up to $10,000 in college tuition tax-deductible.

* Create 10 million new high-tech jobs. With unemployment low, the need is to focus more on better-paying jobs.

* Reduce by half the pay gap between men and women, largely by toughening enforcement of discrimination laws. Women currently make 73 cents for every $1 men earn.

* Cut the tax burden on average families to the lowest level in 50 years within the first two years in office.