Thursday, July 14, 2005

Economies of scale

So how does the US economy stack up?

Gross Domestic Product (GDP)


Unemployment


It seems to me like the Bush economic plan is working just fine, especially the tax cuts. What were Democrats saying about the Bush economic plan?

Tom Daschle, Dec, 2002

"So all of the economic indicators would point to reasons for serious concern. Their trickle-down economic theories have been a miserable failure, and this is an admission of that miserable failure today. So in addition to changing the players, they've got to change the play. And I don't know that there is any evidence to suggest that they understand that today,"

Terry McAullife, Aug. 2001

"We believe this is a defining moment for President Bush. The bills for Bush's irresponsible fiscal policies are coming due. We are determined to take every measure to ensure that the American people know what is at stake in the upcoming budget battle."

John Edwards, Aug, 2004

"There is nothing compassionate about leaving millions of hardworking families behind, and there is nothing conservative about a fiscal policy that turns record surpluses into record deficits by combining an ill-planned war with reckless tax cuts for the wealthy," Edwards said. "Will we next hear that his economic plan was a catastrophic success?"

Joe Lieberman, May 2002

"His economic plan could fit on the back of a shampoo bottle: 'Cut taxes, increase spending, borrow, repeat. If he keeps repeating that plan, he will surely endanger Social Security benefits and slow our economy to a halt, just when we need the most economic strength we can muster to fight and win the war on terrorism."

Ted Kennedy, January, 2002

"The doubts that many of us had before the nation was attacked about the affordability of those tax cuts have become certainties in the wake of September 11," Kennedy said in a speech at the National Press Club. "Future additional tax breaks for the wealthy do not deserve a higher priority than strengthening education or covering prescription drugs under Medicare or protecting Social Security or meeting other urgent national priorities," Kennedy said.

Jon Corzine, Jan. 2003

"In the most basic analysis, I don't see how this plan drives economic growth now-when we need it."

Charles Rangel, May 2003

"You say that this tax bill will create jobs. Why don’t we pull the record and find what you said last time you came with a trillion dollar tax bill and find out where the jobs are that you promised then? We know that there is a philosophical difference between Democrats and Republicans. We believe that the people should be served and not just our investor class. Is it a class warfare? You bet your life! And you have declared it against the working people!"

8 Comments:

At 7/14/2005 8:17 PM, Blogger GreggJ said...

Right on the money! I think that these so liberals all owe the American people an explanation and an apology for opposing, almost unanimously,the Bush's tax cuts. As the quotes demonstrate, the usual suspects in the Socailist party (a.k.a. the Democrats)predicted the Great Depression redux when The Congress (across party lines) passed Bush's tax cuts, and instead got sustained robust economic growth, increasing tax revenues to the federal treasury, record low unemployment, record low inflation and interest rates, and a sharp decrease in the deficit. The Dems should apologize to the American people for attempting to obstruct the very pro growth legislation that has led to these fantastic economic numbers. They should also acknowledge that they are utterly ignorant about macro and micro economics. Perhaps if more of them actually had to run a business in their lifetimes (Dean, Kerry, Kennedy, Clinton, Rangall et al)they might understand that lowering marginal tax rates is the only effective way to incentivize risk taking and investment, which ultimately leads to job creation, and economic growth and yes, a larger tax base which tends to decrease budget deficits. Even JFK understood this, but these pinkos only understand tax, tax, tax. They are like mind numed robots. The time is now for Bush and the GOP to remind the contry how his tax cuts have worked and must call on the Congress immediately to make them permanent and permanently abolish the death tax and cap gains tax (which even countries such as Canada and Russia have done. You have the big "Mo" on the economy with these latest figures, now it's time to do what you ran on...MAKE the TAx Cuts Permanent. There is no greater disincentive to future capital and business investment than looming tax increases (which would result under the current sunset provision in 08')You ahve the CApital Mr. President. Be bold and spend it! Go on the offensive adn remond the country that we can grow the economy and win the war on terror simultaneously...and oh yea you may want to think about closing the border! Just a suggestion...

 
At 7/14/2005 8:41 PM, Blogger Kevin said...

I don't see why they should apologize for holding a wildly different economic view than the GOP. They are entitled to be wrong time and again on taxes and pro growth economic policies. Maybe they should be applauded for consistency?

 
At 7/15/2005 2:07 PM, Blogger DougH said...

Kind of makes you wish the US Comptroller and head of the GAO, David Walker, agreed with the rosy assessment. But no, he has to rain on our parade by fretting over such petty things as the long-term outlook being "imprudent and unsustainable." I don't suppose he's nitpicking over such things as increasing spending 7% while cutting taxes. He must be a math nerd. I guess it's a good thing the federal deficit might be "only" $325 billion this year.

Killjoy.

 
At 7/15/2005 2:18 PM, Blogger Kevin said...

Killjoy indeed. Its morning in America Man! $325B is not large % of GDP. In line historically. If we didn't have the tax cuts, things would be much worse. I agree, it would be better if spending was down.

 
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