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Politics : Politics for Pros- moderated
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To: Dayuhan who wrote (13089)10/19/2003 10:52:41 PM
From: Lizzie Tudor  Read Replies (1) of 793568
 
Is that really the way it happened before? I see no causative connection between tax cuts and growth. Certainly there is no empirical evidence of any such connection.

I meant that Clinton had growth on his side to get out of the prior Bush's deficit. He also raised taxes somewhat but that would not have covered the deficit given the early 90s GDP.

As far as labor force devastation, all I can say is that this is the first 3 year period since the depression where the US has lost jobs overall, 2.5 million jobs actually. So things are definitely not good in the labor force. We have had severe recessions before... the early 80s Reagan recessions especially come to mind, where "unemployment" (an indicator that is now worthless) hovered at 12%... we did not lose 2.5 million jobs during that period, this is the first time.
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