Mathew Yglesias Is A Dishonest Far Left Crank Who Is Incapable of Understanding Economics
Matthew Yglesias – Dishonest Far Left Crank
Matthew, if you don’t understand economics, please don’t report on economics.
Today this far left hack reported on the Bush tax cuts and their effects on the economy. He used this chart as evidence for his argument that the Bush tax cuts were not effective.
Do you notice anything strange about this chart? The chart breaks down economic growth into 5 year segments. Notice that the chart breaks up the Bush years from 2001 to 2005- during the Clinton recession and 9-11 – and 2006 to 2010- including the mortgage meltdown of 2008 and Obama’s failed first two years in office. Of course, breaking up the Bush years in this way is a clever way for big government statists to misrepresent the tax cut effects on the US economy.
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.
THE REALITY – OBAMA’S BIG GOVERNMENT TAX & SPEND POLICIES CRIPPLED THE ECONOMY
After an unheard of record deficit last year of $1.4 Trillion the economy is on track to experience a $1.3 Trillion deficit this year.
Now Matthew Yglesias and the far left want you to believe that the Bush tax cuts did not work.
It’s a lie.
(Thanks to Wake Up America for the help.)