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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (53200)	8/11/2004 3:04:49 PM
From: Wharf Rat	Read Replies (1) \| Respond to of 89467

Admit it: Tax cuts have failed to create enough jobs By REGISTER EDITORIAL BOARD August 10, 2004 -------------------------------------------------------------------------------- The American public has heard it over and over the past three years: Cut taxes and job growth will ensue. The Bush administration has repeatedly pushed the theory that cutting taxes would result in more jobs and better pay for average Americans. The opposite has happened. The jobs aren't there. American workers are making fewer dollars, on average. So it's time to get honest about the best way to create jobs in this country and change strategies to accomplish that goal. There are 1 million fewer jobs today than there were when President Bush took office. Last month, employers created about 32,000 jobs, not even enough to provide work for the new people entering the job market as population grows. It's one-tenth of what would be needed on a monthly basis to meet the early promises of the Bush administration. Private-sector incomes are down. Accounting for inflation, hourly wages are down 1 percent since late last year. The economic gains that have occurred are more likely due to old-fashioned deficit spending than to the tax cuts. The deficit will set a dollar record this year - again. Record borrowing stimulates the economy in the short run, yet it poses a threat to the long-term health of the economy. The trade-off for immediate gratification now is slightly slower growth and higher interest rates in the future. It's true that the U.S. economy has been in the throes of some major struggles. Terrorist attacks. A war in Iraq. Soaring oil prices. These emergencies have disrupted the private sector and strained federal coffers. Yet it's been nearly three years since Sept. 11, and historically war has been a stimulant, not a drag. Even with those shocks to the economy, job growth should be stronger. It's time to admit that tax cuts, as an all-purpose economic policy - indeed the only economic policy of this administration - have failed. Rather than admitting the mistakes, some continue to cling to the notion that cutting taxes will work. It takes time. Or they point to a different set of numbers in an attempt to prove that the job creation is adequate. This is not only disingenuous, it's damaging. There is a better way to create jobs than to try doing it indirectly through tax cuts. Do it directly by building things. History tells us so. When the Hoover Dam was built in the 1930s, jobs were created in the construction itself and in the transformation of Southern California made possible by water and the new power source. According to the U.S. House Transportation and Infrastructure Committee, for every $1 billion spent on highway and transit infrastructure, nearly 50,000 jobs will be created. America could use revamping of everything from airports and sewers to parks and schools. Embarking on that venture would provide jobs now and a stronger economy in the long run. If the money the federal government has been borrowing had been spent building things the country needs, everyone would be better off, from those wanting to swim in an Iowa lake to patients treated in crumbling public hospitals. It's never too late to change strategies. desmoinesregister.com

To: Wharf Rat who wrote (53200)	8/11/2004 3:36:45 PM
From: one_less	Respond to of 89467

None Too Swift ... is right. Everyone has a right to free speech. But they don't have a right to lie, and it's up to editorialists to call them on it. By Michael Tomasky "Back when Bill Clinton was first running for president, it was obvious... It amazes me that anyone would start an article declaring that editorialists must call liars on their lies with a statement defending bill clinton. clinton is the most famous liar I am aware of. The clinton phenomenon boggles me...