The unemployment rate just dropped from 4.7 percent to 4.6 percent. The Washington Post, not exactly a Bush administration cheerleader, recently wrote "that just about every worker with the skills and desire to work can find a job." Yet the same article cited its own poll that shows only 39 percent of Americans approve of Bush's handling of the economy, with 59 percent disapproving.
The tax cuts, as tax-cutting former President John F. Kennedy predicted, sparked the economy. Kennedy once said that it may sound "paradoxical," but in order to increase tax revenues, we must decrease tax rates. Under Bush, "tax collections have increased by $521 billion in the last two fiscal years," reports The Wall Street Journal, "the largest two-year revenue increase -- even after adjusting for inflation -- in American history." Even with the irresponsible spending, this puts the deficit at 2 percent of GDP, well below the recent 40-year average of 2.7 percent. Inflation and interest rates remain low. And labor analysts just revised upward the figures on job creation, adding an additional 810,000 jobs!
So how have we been hurt by tax cuts?
Bush didn't cut 'em enough. Those were pretty frickin' wussy tax cuts from Mr. Compassionate Conservative.
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