However, this excellent macroeconomic performance was not accompanied by an equitable distribution of wealth. While a group of new millionaires flourished during Balaguer's administrations, the poor simply became poorer. Moreover, the poor were commonly the target of state repression, and their socioeconomic claims were labeled 'communist' and dealt with accordingly by the state security apparatus. In the May 1978 election, Balaguer was defeated in his bid for a fourth successive term by Antonio Guzmán Fernández of the PRD. Balaguer then ordered troops to storm the election centre and destroy ballot boxes, declaring himself the victor. U.S. President Jimmy Carter refused to recognize Balaguer's claim, and, faced with the loss of foreign aid, Balaguer stepped down.