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Bush economic growth vs Clinton/Kerry prosperity
by Nick Anagnos
August 8, 2004

CNN question, which is more important? Republicans argue, GNP and good economic indicators as the Republicans are boasting, make job creation and job outsourcing inconsequential. The test in determining any truth to this argument is how each translates in new income and wealth, a real benefit to prosperity or a real downturn to prosperity.

Jobs, or a net increase in jobs, must By the Logic of Mathematical Certainty, bring about a net increase in INCOME. In other words, the American people prosper by some net increase in wealth via new income. Therefore, by mathematical certainty, income creates an income tax event. By mathematical certainty, this will result in a net increase to our U.S. treasury, thus resulting in a net decrease in our Deficit (a net benefit to U.S operating statement). Here is the historical proof: Just recently, in the 90's there were 22 million new jobs created by the Clinton administration economic policies, creating new income to the treasury revenues which decreased the deficit, In other words, expenses which had been greater than tax revenues were brought into line causing a "balanced budget" and then continued tax revenues from more new jobs ultimately blew by the expenses and created the already forgotten SURPLUS. So, it can be argued, new jobs created this Surplus which could have saved our depleting SS, created opportunities for providing much needed health care, improvements in education, rebuilding infrastructure in our society and other societal needs. Of course since Bush's tax cut's were imposed we are back to the deficits of the 80's. They blame expense from 9/11, but someone in the GAO should measure Tax Revenues. I will bet my house and my life that this new binge of deficits were caused not only from Bush's tax cuts but from plummeting Tax revenues resulting from the NET two million LOST JOBS starting when Bush took over.

We have according to President Bush's top economic advisors "the greatest increase in GNP and economic growth in twenty years," simultaneously to the greatest "outsourcing" of jobs ever seen in America and due to the ability to replace Americans ON-LINE from other countries. But, this has translated into the current record $500 billion deficit which came back on Bush's watch.

Historically, these same boasts of a great economy which came about as a result of Ronald Reagan's tax cuts which were supposed to "trickle down" to all hard working Americans, did create lot's of new millionaires. But it created more homeless and a recession which shrunk the "middle Class." But the real proof was, America's national debt began it's ascent from annual deficits mounting to $300 billion per year and our National debt went from .8 trillion in 1980 to over 6 trillion in 1993. Why? Great economic growth to companies but NO NEW JOBS! In '93, when Clintons DEFICIT REDUCTION ACT PASSED by Al Gores one vote we began to see the changes. This Deficit Reduction Act was a tax increase to those making over $200,000 (Kerry's tax plan as well). The tax increase provided investment for new job programs which started the 22 million net in the Clinton 90's. By contrast there were minimal new job's in the 12 consecutive years of Reagan/Bush.

The only question in my mind is why is there even a debate over this? Why doesn't Kerry just tell everyone his fiscal policy will mirror Bill Clintons Economic Recovery Act of '93. He is guilty of the same ego problem Al Gore had which ultimately lost the election to Bush in 2000. Clinton has proven that Liberal fiscal policy works, so why do Democrats avoid this historical fact? I have a theory. Clinton was viscously attacked by the right for years, but not because of his "womanizing." It was because he proved generic Democratic fiscal policy created prosperity. How bad is that for Republican's? They had to attack him personally and come up with an economic rebuttal to Democratic fiscal policy which was...Clinton's tax cuts caused this (phantom) recession and "Bush inherited Clintons economic recession." Sure, he did. *Alan Greenspan raised interest rates seven time's in Clintons last year to create a slowdown in economic indicators which the Republicans were looking for just for a reason to exist. Why would America want to change this policy? They found their political reason by claiming we needed a tax cut to offset Clintons recession. DOES ANYONE UNDERSTAND THIS besides Lou Dobbs?

Posted: August 10, 2004


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