President George W. Bush defended tax cuts for American small business owners tonight during his interview with Bill O’Reilly. The Bush tax cuts implemented in 2003 helped create millions of new US jobs and brought the US deficit down by several hundred billion dollars.
Democrats want to raise taxes on American producers and small business owners.
THE TRUTH – BUSH TAX CUTS GREW THE ECONOMY.
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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.
Not only were more jobs lost after the 9-11 attacks in 2001 than in the 2008 market crash, but more jobs were created by President Bush’s pro-business policies and tax cuts than by the Obama-Pelosi “spend your way to hell” Keynesian failure.
Good for George W. Bush for speaking out against the democrat’s proposed tax hikes.