Yes we needed to lose some damn jobs, because we have been messing with the market far too much through political influence over the FED. Both parties have placed pressures upon FED board members to cut interest rates to keep the economy afloat. The recent recession is the result of 20 years of easy money. There is a business cycle, people will lose jobs and get new ones, pouring money into the bottom only gives people a short term cash flow that soon runs out. (give a man a fish he will eat for a day, teach a man to fish he will eat for life).
Now regarding the tax cuts they were directly correlated to an increase in our daily output of 1.8 billion dollars while the wars (especially Iraq) cost 2 billion. Without 9/11 Bush would have gone down as an acceptable president.
Finally Obama has caused a 225 billion dollar deficit in one month, greater than the entire 2007 deficit, nuff said