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DRDGOLD Ltd. Message Board

  • pu_2664 pu_2664 Feb 1, 2007 7:54 PM Flag

    Bush's record on the economy

    An editorial from Investor's Business Daily nails it.

    The mantra among critics of President Bush is that he's been "incompetent" as chief executive. To which we respond: Looked at the U.S. economy lately?

    In his "State of the Economy" speech Wednesday, Bush expressed justifiable pride in his economic accomplishments. Our good friend Larry Kudlow keeps calling it "the greatest story never told." And indeed it is.

    The Bush-is-a-failure mantra is, quite simply, out of touch with reality. What the economy's done in the past six years, especially in view of what Bush faced on entering office, has been nothing short of remarkable.

    So, what's the real record?

    Since Bush's tax cuts took effect in mid-2003:

    • Real gross domestic product is up to $1.33 trillion, or 12.6%.

    • Existing businesses have hired 5.9 million workers (not counting the millions of jobs entrepreneurs have created).

    • Corporate profits have soared 91% to $1.6 trillion.

    • Tax receipts have leapt $503 billion, or roughly 1.1 percentage points of GDP, refuting the notion the tax cuts "caused" deficits.

    And thanks to rebounding stock prices and huge gains in home values, Americans' total wealth has soared 39% to $54 trillion — the biggest expansion ever.

    It is about time this story is told. But I think the biggest problem is the ridiculous inability of Bush's critics to recognize that Bush's economic policies save this country from what could have been a major economic disaster.

    I want all the liberals who come here to repeat this phrase: "The economy is strong because of Bush's policies." If they can't even admit to this, then they are completely hopeless.

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