"Everyone is entitled to his own opinions," said the late Daniel Patrick Moynihan, "but not to his own facts." Moynihan was a liberal. Today's liberals--led by House Minority Leader Nancy Pelosi (D-CA)--would not agree.
She denounced the tax cuts of 2003, saying then we can't afford them, they won't create jobs, they'll damage economic recovery, and they'll create a larger deficit. The American Shareholders Association has fact-checked those comments against proven results.
The economy has created 5.3 million new jobs since the Bush tax cuts. Unemployment has dropped from 6.3 percent to 4.7 percent, the lowest in decades. The economy has grown robustly since the tax cuts took effect. And the deficit--while still far too great--is $38 billion lower today than it was in 2003.
By every measure, the tax cuts have been successful. Congress recently moved to extend the Bush tax cuts. Without this timely action, you and your family would have gotten a huge tax hike next year.
Liberals' reaction to all this? The Washington Post's columnists respond with "the return of Voodoo Economics." How predictable. In their zeal to stick pins in President Bush, the Post pundits are willing to puncture a growing economy.
Tony Perkins
Family Research Council
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The economy, in and of itself, is doing well. Point given. However, the deficit we are facing, in part as a result of the tax cuts, has forced the federal government to slash spending on several critical programs, such as biomedical research, education, the training of young doctors, and programs such as the Safe and Drug Free School Zone block grant.
The economy is not the whole story. Don't forget to look at the trade deficit (especially with China), the amount of debt carried by the average American, as well as other indicators that poin towards a very difficult future.
Southpaw...can you tell me where in the Constitution the Federal Govt is supposed to be paying for private companies to do biomedical research, educating our kids, training doctors, etc...?
I agree we still have some hurdles to face, personal debt being a major one, but how will raising taxes help people get out of debt?
Martin...very good points!
"Biomedical research should be privately funded, and if it were profitable it would be. "
Translation: if you cannot make money on something, it's ok for people to die as a result.
Fair interpretation?
Maybe you can tell me why the Government spends close to $40 billion in biomed research every year, seeing as how inyour opinion they should not be doing so?
Once again, please show me in the Constitution where it says the Govt is supposed to be doing such research with my money.
If Govt would keep there nose out of it with so many crazy regulations, stiffling taxes, and crack down on frivilous lawsuits, I'd be willing to bet private industry would be far futher along on their own.
show me in the constitution where it says there should be an FBI.
show me in the constitution where it says there should be a CIA
show me in the constitution where it says we should spend money on no bid contracts for Haliburton
show me in the constitution where it says we should have medicare and social security
show me in the constitution where it says we should take care of our veterans and their families when they are wounded and killed
I agree it doesn't say anything about medicare and social security in the constitution which is why I don't think they should be funded by the Govt.
However the FBI, CIA, contractors assisting the DOD, and taking care of veterans all fall under defense of the nation or enforcing our laws which are definitely in the constitution.
so is promoting the "general welfare" of the people.
I looooove that quote. Its hard to believe its from Moynihan but it is true, very true!!!
And I'm a big believer in Reagan's economic policy on taxes, supply side economics. Cutting taxes benefits the American people and the economy. It works everytime its tried!!!
Southpaw...promoting doesn't mean funding or running. Article 8 further enumerates the "general welfare" and it has nothing about health care or retirement.
That term has been severely abused for tons of Govt intrusions into our lives and the rights of the States.
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