The Democrats just can’t seem to get the economy right. But we can’t say we weren’t warned.
After President Obama’s incorrect assertion that “… Capitalism doesn’t work …” in his first State of the Union and the Democrats full-bore attack on Capitalism and the people that produce wealth in this country over the last year, it’s obvious common sense people are in for a real fight.
But I’ll have to admit, I didn’t think it would be this difficult to convince “little guys” who are still unemployed after a year of Obamanomics that their guy is just another lefty Socialist with no clue how to get their jobs back (unless they’re a government employee).
It doesn’t help when the mainstream media continues to repeat the lie that tax cuts don’t work and government deficit spending will jump-start the economy.
That, coupled with claims of profligate Republican spending in the ’80s and ’01 to ’06, remain their key talking points when justifying Obama and the Democrats gluttonous over-indulgence at the taxpayers (and future taxpayers) expense.
So in the spirit of helping you enlighten the “little guys” at your Super Bowl party, I’ve found a little ammo you can use to counter lefty claims. It’s a comparison between Bush/Republican gluttony versus Obama/Democrat gluttony.
The numbers show tax revenues after the Bush tax cuts increased sharply. Comparing year-over-year, we had revenue growth of …
- 8.2% (’04),
- 14.6% (’05),
- 11.7% (’06), and
- 6.7% (’07).
Then we fell by 1.7% in ’08 as the recession started.
Revenues exceeded $2T every year after the Bush tax cuts except for ’04 ($1.88T). They exceeded $2.5T in ’06 and ’07.
I think 2 Trillion dollars is enough to run the country.
But it wasn’t, as Congress under the Republicans continued deficit spending. Year-over-year spending increases were 6.2%, 7.8%, 7.4% and 2.8% from ’04 to ’07.
Then the Democrats took over Congress and a simple overeating problem turned into a full-blown feeding frenzy — they spent 9.3% more in ’08 and a whopping 34% more in ’09!
With revenue increasing more rapidly than spending over ’03 to ’07, the amount added to the debt (not the deficit), when viewed as a percentage of GDP each year, was steadily decreasing …
- » 5.5% in ’03,
- » 5.3% in ’04,
- » 4.3% in ’05,
- » 4.1% in ’06, and
- » 3.4% in ’07.
But you can kiss the good old days goodbye with more than $1T added by Democrat Congresses in ’08 and ’09 and more than $1.5T in the new budget.
So they can’t blame overeating Republicans anymore. There are some real hogs in the taxpayers feedlot now.
If taxpayers don’t want to become the next Biggest Losers, even the “little guys” are going to have to wise up and realize it’s time to throw every big government, big spending politician out.
Remember to vote.
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