"I think when people take a look back at this moment in our economic history, they’ll recognize tax cuts work. They have made a difference."
Bush can actually be quite comical at times. He certainly has braided his annihilation of the country with bits of obnoxious humor over the years.
Of course it's his stupidity that's most comical.
Can he really be that insulated from reality or is he truly pathological?
Is it true that his staff won't allow him read anything but the sports page?
Has anyone mentioned to idiot boy that the dollar is dropping like a rock all because he's spent and borrowed many trillions of dollars more than he's taken in?
People are looking back to 'economic history' George. Back to the Clinton years when things were not only a helluva a lot better, but we were actually paying for it.
Bush is a caricature of cluelessness.
In a 2005 study, the Joint Committee on Taxation examined the economic effects of reductions in individual and corporate tax rates and an increase in the personal exemption. It found, “Growth effects eventually become negative without offsetting fiscal policy [i.e. without offsets] for each of the proposals, because accumulating Federal government debt crowds out private investment” (emphasis added).[6]
University of California Berkeley economics professor Alan Auerbach simulated the economic effects of the 2001 tax cuts under various assumptions. He found that the only scenario under which the tax cuts increased the size of the capital stock and thus increased long-term economic output was one in which they were fully paid for with spending cuts at the time they were enacted.[8] Fully offsetting the cost of the tax cuts would require cuts in government programs equal to the entire annual budgets of the Departments of Education, Homeland Security, State, and Veterans’ Affairs combined.
'The Tax Fairy, Debunked'
Original source, Think Progress
