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Thread: So How Did the Bush Tax Cuts Work Out for the Economy?

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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by Conservative View Post
    Interesting, NBER says the recession ended in June 2009. didn't Obama take office in January 2009

    NBER: Recession Over in June 2009 - Real Time Economics - WSJ
    Don't believe those numbers brother. That's liberal rhetoric. Don't let them fool you! There have been 4 million jobs since Obama took office. How can you defend him?

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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by McCain2012 View Post
    Don't believe those numbers brother. That's liberal rhetoric. Don't let them fool you! There have been 4 million jobs since Obama took office. How can you defend him?
    I am not your brother and it has nothing to do with liberal rhetoric. NBER keeps a record of when recessions begin and end and they claim it ended in June 2009. Better sharpen your act.

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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by Conservative View Post
    I am not your brother and it has nothing to do with liberal rhetoric. NBER keeps a record of when recessions begin and end and they claim it ended in June 2009. Better sharpen your act.
    Ok fine, so Barack Obama ended the recession. You win.

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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by McCain2012 View Post
    Ok fine, so Barack Obama ended the recession. You win.
    Oddly, I'm defending Conservative. But he is right and you are wrong. Period.

    Reagan's recession ended in November, 1982 (with an unemployment rate of 10.8%, by the way) - and his unemployment rate didn't recover until April, 1987. AND his recession was caused by bad monetary policy as opposed to a collapsed housing market.

    So, do you suggest that Reagan is WORSE than Obama because it took him five years for jobs to recover and Obama has already come down from his peak unemployment number?

    Obviously, I know that's not what you're suggesting - but a little history helps.

    Source: http://www.nber.org/cycles/cyclesmain.html
    Source: http://research.stlouisfed.org/fred2/data/UNRATE.txt

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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by McCain2012 View Post
    Ok fine, so Barack Obama ended the recession. You win.
    Yep, ended the recession, and after the recession ended he added 4 million to the unemployment roles, 3 trillion to the debt, and had incredible economic performance of 2% GDP growth. I am sure that makes you proud.

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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by Conservative View Post
    Obama is making Bush look great. Obama has lost 4 million jobs in 2 years, in 8 Bush still created 6.5 million with two recessions. You really need to get over your BDS. Bush left office with 143 million people employed, today that number is 139 million. Looks to me like Obama is headed in the wrong direction.
    The facts are that Bush had the worst record on record and the tax cuts didn't help the job situation. Bush inherited Clintion's budget and Obama inherited Bush's budget which had a 1.416 trillion deficit, which he reduced to $1.29 trillion the following year.


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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by pbrauer View Post
    The facts are that Bush had the worst record on record and the tax cuts didn't help the job situation. Bush inherited Clintion's budget and Obama inherited Bush's budget which had a 1.416 trillion deficit, which he reduced to $1.29 trillion the following year.
    Inheriting a budget doesn't mean you cannot change the budget. Bush didn't take over GM, Bush didn't create the 862 billion dollar stimulus plan, and Bush didn't collect the repayment of TARP that no one knows where the money went.

    Tell me why you have so much passion for people paying higher taxes?

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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by Conservative View Post
    Yep, ended the recession, and after the recession ended he added 4 million to the unemployment roles, 3 trillion to the debt, and had incredible economic performance of 2% GDP growth. I am sure that makes you proud.
    Yes, and he needs to take full blame for that. Liberals try to point out that Reagan blamed the administration before him and the recession they caused for economic troubles during his administration but we all know that's just liberal rhetoric. They point out statements of his about his critics that he made 20 months into his term like "I must ask, did these modern day Rip Van Winkles really sleep through the America of 1980? Don’t they remember the unprecedented misery of double-digit inflation, climbing unemployment and record interest rates?" and "I just wish those who bear such a heavy burden for overspending and taxing us into this recession could resist playing politics with the problems they caused and work with us to stay on course for a lasting recovery." We all know that's just liberal spin on a great president who took full responsibility for the economy the day he entered office.

    http://blogs.ajc.com/jay-bookman-blo...obama-economy/
    Last edited by McCain2012; 11-02-10 at 07:39 PM.

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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by Conservative View Post
    Inheriting a budget doesn't mean you cannot change the budget. Bush didn't take over GM, Bush didn't create the 862 billion dollar stimulus plan, and Bush didn't collect the repayment of TARP that no one knows where the money went.

    Tell me why you have so much passion for people paying higher taxes?
    The bailout of GM saved thousands of jobs while TARP saved the jobs people on Wall Street who make $1 million or more some averaging $2 billion a year.

    About 1/3 of the stimulus was tax breaks for the middle class.
    The deficit was caused by lost income tax revenue from all the layoffs.


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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by McCain2012 View Post
    Yes, and he needs to take full blame for that. Liberals try to point out that Reagan blamed the administration before him and the recession they caused for economic troubles during his administration but we all know that's just liberal rhetoric. They point out statements of his about his critics that he made 20 months into his term like "I must ask, did these modern day Rip Van Winkles really sleep through the America of 1980? Don’t they remember the unprecedented misery of double-digit inflation, climbing unemployment and record interest rates?" and "I just wish those who bear such a heavy burden for overspending and taxing us into this recession could resist playing politics with the problems they caused and work with us to stay on course for a lasting recovery." We all know that's just liberal spin on a great president who took full responsibility for the economy the day he entered office.

    When does the Bush economy become the Obama economy? | Jay Bookman
    Doesn't look like the American voters today are buying your act and do blame Obama for the economy today.

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