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Title: Obama’s Favorite Campaign Lie Exposed: Bush Tax Cuts and the Deficit Myth
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URL Source: http://whostolemycareer.com/2010/07 ... tax-cuts-and-the-deficit-myth/
Published: Jul 14, 2010
Author: Dave Horne
Post Date: 2010-07-14 12:56:41 by no gnu taxes
Keywords: None
Views: 10366
Comments: 26
DJH: I’ve become ambivalent about Obama’s latest Election 2010 stump speech; you know the one that goes: “[Conservatives] spent a decade driving the economy into a ditch. And now they’re asking for the keys back. And my answer is, no, you cant have the keys. You can’t drive. You don’t know how to drive. You drive in the wrong direction. You can’t have them back. We’re just getting the car out of the ditch. We can’t have you drive it back in the ditch. “ I’m ambivalent because this stupid line is clearing failing to pass the “sniff test” with all but the most virulent liberal audiences and I’m hoping he keeps it up everywhere goes — it’s winning votes for fiscal conservatives. Another reason I’m ambivalent is because it’s a complete lie and one that can easily be disproved; just follow me. January 20, 2007 — Nancy Pelosi Named Speaker of the House Despite Obama’s clever repartee, fiscal 2006 was the last year that Bush and the republicans “owned” the federal budget and thus the deficit. Any and all spending and appropriations enacted after January 20, 2007 were done by Speaker of The House Ms. Nancy Pelosi. In case you missed it, Pelosi was no lap dog for Bush. Also, prior to being thrown out of office by John Thune on January 20th, 2004, Tom Daschle earned the title of “Mr. Obstructionist” by blocking just about all of Bush’s economic agenda; specifically, he delayed the Bush tax cuts by over a year. So, contrary to Obama’s latest “skit,” Bush and the republicans did not own the budget (and thus the economy) for the past decade. They only owned it for the four-year period from January 20th 2003 to January 20th 2007, and the US economy did very, very well during that four-year period. The Onslaught of Pelosi’s Runaway Debt Compare what happened to our annual deficit (and national debt) during the Bush era versus the Pelosi era: At Least Bush Grew The Economy! As I have said before, I like most of what Bush did up until the Harriet Miers nomination for the SCOTUS, after that not so much. Way too much spending. That said, unlike Obama, Bush grew the economy to help pay for his big government spending: 
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#1. To: no gnu taxes (#0)
If you have any doubts about how easy it is for someone who works hard in the US to get ahead, consider this factoid from Martin Wolf’s latest comment in the Financial Times, on Raghuram Rajan’s new book (see Satyajit Das’ review here: Thus, Prof Rajan notes that “of every dollar of real income growth that was generated between 1976 and 2007, 58 cents went to the top 1 per cent of households”. It isn’t merely stunning, it’s destructive. bush43's tax cuts went to the 15% Capital Gains people. The Top 50 000 Households. Steinbrenner's heirs just got a tax windfall bonanza.
We are beholden to them top 50,000 for the crumbs they let drop from the table (trickle down) and allow us to gather. They are the creators, the source of our employment - without them we would starve. If we don't offer up another tax cut on the sacrificial alter, they will take jobs from the unfaithful and give them to the Chinese (it costs less to feed the Chinese anyway).
;} That's their thought process.
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#7. To: mcgowanjm (#1)
bush43's tax cuts went to the 15% Capital Gains people. The Top 50 000 Households.
#21. To: lucysmom (#7)
They are the creators, the source of our employment - without them we would starve.
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