FOR IMMEDIATE RELEASE OCTOBER 3, 1992 Bush Sentences Consumers to Pay Higher Cable Rates [Statement of George Stephanopoulos, Communications Director] Today George Bush slapped American consumers across the face, sentencing them to continue paying outrageous cable television bills. Though Bush likes to talk about competition, he once again proved that he's ready and willing to kill it to protect his wealthy friends. The cable bill that Bush vetoed would encourage competition and put an end to the cable monopolies' price gouging -- which has driven rates up at eight times the rate of inflation. The bill would give real relief to cable consumers who have paid too much for too long. Not surprisingly, Bush has received nearly $900,000 in campaign contributions from cable interests since 1987. Bush maintains a close friendship with Bill Daniels, who runs one of the three top cable brokerage firms, and who has personally lobbied Bush against reform. Daniels gave Neil Bush a $60,000-a-year job after the S&L in which the President's son invested collapsed. Cable consumers -- and all American consumers -- know the truth. They're not going to support a White House that protects monopolies and costs hard-working families the money they've earned. But that's what the Bush presidency is all about. Bill Clinton and Al Gore support strong measures to help consumers and halt outrageous price gouging. They support the bill which George Bush just vetoed -- because they stand with the American consumer, not corporate conglomerates. Senator Gore helped write and pass the Cable Television Consumer Protection Act. And as he said today, "George Bush has vetoed the most important consumer legislation of the year -- all to protect his rich friends in the cable monopolies." -30-