US Economy Growing By Leaps and Bounds
This is something you are not going to hear from the MSM. The Bush tax cut plan is working. Growth is up to unprecedented levels.
Did you know that just over the past 11 quarters, dating back to the June 2003 Bush tax cuts, America has increased the size of its entire economy by 20 percent? In less than three years, the U.S. economic pie has expanded by $2.2 trillion, an output add-on that is roughly the same size as the total Chinese economy, and much larger than the total economic size of nations like India, Mexico, Ireland and Belgium.
That kind of growth deserves a WOW! The tax cuts really are working.
With the growth of the economy tax revenue is also up. (New York Times via Powerline)
An unexpectedly steep rise in tax revenues from corporations and the wealthy is driving down the projected budget deficit this year, even though spending has climbed sharply because of the war in Iraq and the cost of hurricane relief.
On Tuesday, White House officials are expected to announce that the tax receipts will be about $250 billion above last year’s levels and that the deficit will be about $100 billion less than what they projected six months ago.
They go on to say, but…… So why aren’t the MSM and the Democrats happy about this good news? Because they do not celebrate anything good coming out of the Bush administration. In fact the people the Times quotes all see this as bad news. Huh?!
I would expect the Democrats give President Bush the credit for this growth which amounts to an average of about 7 percent per year, but I would be waiting a long time. This kind of growth is phenomenal. To put this into perspective lets look at the economies of the last few presidents.
Real economic growth averaged 3.2 percent during the Reagan years versus 2.8 percent during the Ford-Carter years and 2.1 percent during the Bush-Clinton years.
Those on the left will be sure to mention the early years of the Bush presidency when the nation was in an economic slow down. They forget George Bush inherited a down turn in the economy from Bill Clinton. Then the nation was attacked. It is little wonder the economy slowed down during the first couple of years. The one thing which more than anything else to helped to ease the pain of the attacks was President Bush’s tax cut. And now the tax cut is making the economy of the US grow even faster than everyone thought. At least give the President credit for a fast growing economy.
Posts
Discussion Area - Leave a Comment