December 28, 2005
That dog don't hunt...
el Presidente and his staffers have done a tremendous job of talking up their economic achievements over the last month. Said achievements can be summarized as follows:
and these are the highlights!
Here's some common sense... if you have tax cuts in a high tax environment (which we didn't have in 2001) then you'll get a boost in the economy. If you change tax policy to discourage business expansion and investment (like the R's did in 2001 and after) and instead favor profit taking then you'll get exactly what we have now, weak employment and non-existant wage growth. The fact that this happened in a low interest rate environment (not to mention a very compliant government when it comes to regulation) WITH good consumer spending means that business has done all it's going to do. Period. There's no tremendous boom coming. It's just not going to happen.
In other words, Bushites have made a disaster of the federal budget without providing ANY gains that would at least compensate. Much like their foreign policy, their economic policy has been a disasterous failure.
Posted by mcblogger at December 28, 2005 12:19 AM
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