Another day… Another campaign speech…
President Obama lashed out at Republicans today for his failed economic policies and pushed to increase taxes during his campaign speech in Pennsylvania.
Here’s something Barack forgot to mention…
During the Bush years, despite the 2000 Recession, the attacks on 9-11, the stock market scandals, Hurricane Katrina, and wars in Iraq and Afghanistan, the Bush Administration was able to reduce the budget deficit from 412 billion dollars in 2004 to 162 billion dollars in 2007, a sixty percent drop. In 2004 the federal budget deficit was 412 billion dollars. In 2005 it dropped to 318 billion dollars. In 2006 the deficit dipped to 248 billion dollars. And, in 2007 it fell below 200 billion to 162 billion dollars. During the Bush years the average unemployment rate was 5.2 percent, the economy saw the strongest productivity growth in four decades and there was robust GDP growth.
Obama has tripled the national deficit and nearly doubled the unemployment rate of the previous administration during his first year in office.
The AP reported:
President Barack Obama seized on the nation’s worst oil spill Wednesday to argue for rolling back billions of dollars in oil company tax breaks and using the money to speed the way to a clean-energy future. “The next generation will not be held hostage to energy sources from the last century,” he said.
The White House released excerpts of Obama’s speech while he was en route to a speech at Pittsburgh’s Carnegie Mellon University. In his remarks, the president aggressively sought to cast Republicans as a party that fought him on tax cuts for small businesses, tax credits for college tuition, new spending on clean energy and more.
The timing comes as Obama, juggling the environmental disaster in the Gulf and mounting foreign crises, tried to assure the country that he is also working on the people’s chief concern — the economy. The president’s political speech also underscores the importance of the upcoming midterm elections, in which the outcome of House and Senate races could shape Obama’s ability to enact his agenda for the rest of his term.
“We already know where their ideas led us,” Obama said of Republicans. “And now we have a choice as a nation. We can return to the failed economic policies of the past, or we can keep building a stronger future.”
Obama also said it is time to roll back “billions of dollars in tax breaks” for oil companies and use the money for clean energy research.
He said the catastrophic Gulf oil spill shows the country must move toward clean energy by embracing energy efficiency, tapping natural gas and nuclear power and eliminating tax breaks for big oil. Obama said that the Gulf spill “may prove to be a result of human error — or corporations taking dangerous shortcuts that compromised safety” — but that deepwater drilling is inherently risky and America cannot rely solely on fossil fuels.
66% of Americans believe cutting taxes is a better way to create new jobs than increasing government spending… But not Barack Obama or democrats.