@ican711nm,
parados wrote:
ican711nm wrote:
We all got a tax cut by President Bush in 2003. As a consequence, the USA economy grew.
Yes, and we still got a horrible recession in 2008 with that tax cut.
Most tax cuts come with deficit spending. In the case of Bush's deficit spending, we went from a 230 billion surplus in 2000 to a 417 billion deficit in 2004.
That equates to a $650 billion dollar stimulus package. And yet the economy still barely grew during that time period averaging a 2-3% growth rate. A rate lower than during the Clinton years when the tax rate was higher.
Even with the touted Bush tax cuts, the economy barely grew. The growth during the Bush years was less than the growth experienced during the Clinton years when the tax rate was higher. Thus, ican's conclusion that the small amount of growth experienced was the consequence of Bush tax cuts was rebutted. And, as Parados pointed out, we ended up with a "horrible recession" that commenced in 2008 (when the GOP and conservatives were erroneously claiming that the fundamentals of our economy were strong).
ican711nm wrote:
The
"horrible unemployment increase"--increase from 6% to 9.5%-- didn't start to occur until 2009.
ican's response to parados's post and ican's placement of the phrase "horrible employment increase," into quotes is a misrepresentation. Parados did not use the phrase "horrible employment increase". Parados used the phrase "horrible recession".
The recession commenced in 2008 as did the rises in unemployment. It appears, however, that ican is suggesting that the current economic crisis did not start until Obama took office in January 2009. Everyone knows, however, that the Obama administration inherited the current economic crisis from the Bush administration.
See
Bureau of Labor Statistics:
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 4.9 4.8 5.1 5.0 5.5 5.6 5.8 6.2 6.2 6.6 6.8 7.2
2009 7.6 8.1 8.5 8.9 9.4 9.5
Aren't the Bush tax cuts still in effect? Ican, please explain how Bush's tax cuts are growing the economy.