Figures. Obama Demagogues About Tax Cuts Then Asks Republicans to Quit Demagoguing
Barack Obama demagogued about tax cuts today and then immediately asked Republicans to stop demagoguing.
ABC reported on the meetings today between Congressional Republicans and the White House.
The president agreed that job growth needs to be a priority, saying that he is all for tax reform and happy to work together to achieve it. The president said the U.S. has the lowest tax rate as a percentage of GDP since the 1950s. We’ve been on an experiment of low tax rates for the last decade, and growth has been anemic, he said. He noted that cutting taxes is smart to do politically, but the question is whether it is sustainable .
The president added that he is all for a reduction of demagoguery, an issue he understands since he is the ‘job killing, death panel, probably-wasn’t-born-here president.’
Of course, Barack Obama was not being quite honest.
THE TRUTH – BUSH TAX CUTS GREW THE ECONOMY.
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.
Either Barack Obama is truly uninformed on the success of the Bush tax cuts or he is a complete liar. Unfortunately, it’s most likely the latter.