Aug 30 2010
If the Democrats had not been so stubborn towards across the board tax cuts, we probably would not be in this extended recession. Tax cuts ALWAYS spur economic growth and job creation, as people who have money and survive the down turn decide to take a gamble on a new business idea. Presidents Reagan, Kennedy and Bush all proved this. Yet the modern progressive Democrat is so knee-jerk anti-business (probably due to too much prime time network TV growing up) that they would only consider tax cuts at gun point – which is why only now, as they face wide-spread rejection at the polls, Dems are finally open to extending the Bush tax cuts due to end in January.
The final chapter on Keynesian economics has been written, because the final chapter is all about how this trickle down poverty fantasy of the far is an abject failure. Keynesian economics simply drags out the pain of downturns and wastes trillions of dollars of hard earned tax money. It is now proven to only produce massive debtÂ and wide-spread economic devastation:
Government anti-poverty programs that have grown to meet the needs of recession victims now serve a record one in six Americans and are continuing to expand.
More than 50 million Americans are on Medicaid, the federal-state program aimed principally at the poor, a survey of state data by USA TODAY shows. That’s up at least 17% since the recession began in December 2007.
That is the claim to fame of Obama-Reid-Pelosi economic policies. Just look at the charts I showed last week on the Emergency Unemployment rolls, and how they grew by over a million in July ALONE! Â (click to enlarge).
This was not Bush’ fault – remember, he had a Democrat Congress for two years, when the recession actually began, and a GOP Congress that had become lazy and power-drunk before that. This was the fault of the Democrats. They wasted the last two years.