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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: JeffA who wrote (82232)11/14/2006 11:31:38 AM
From: Kevin Rose  Read Replies (1) of 173976
 
We suppose it's reassuring that Mr. Rubin now thinks the economy is strong enough to withstand a tax increase. That's a switch from his opposition to the 2003 Bush tax cuts, which he predicted would bust the budget and do little for growth. The U.S. economy proceeded to grow by an average of nearly 4% a year for three years following mid-2003, until the recent slowdown due largely to the housing slump.

Here is the part that is wrong. Most of the recent economic 'growth' was caused by the housing bubble. In fact, it is surprising that the economy only grew at 4% considering the growth in the housing sector. Additionally, people using equity from their houses fueled spending. Now that the housing market is deflating, we'll see the effect that it had at masking this very slow growing or even stagnant economy.

Most Democrats have always been for removing Bush's "Rich Welfare" program. That's the only way we can hope to rebalance a budget that has been blown by Bush and His Drunken Sailors.
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