Tax, borrow and spend? You betcha.
Here are a couple of easily
verifiable facts: President Obama has
cut taxes more than George Bush did.
Second fact: President Obama has
created more jobs in 2 years than George Bush created in 8 years.
President Obama has not abandoned the stimulus policies for one simple reason; because every noted economist on the planet,
including Nobel Prize winner Paul Krugman, agrees that stimulus spending is the
correct solution to a recession and high unemployment.
In fact, the non-partisan fact check
organization, Politifact, has compiled a list of numbers that all Republicans really need to look at and
try to remember. The Congressional Budget (CBO) estimates that President
Obama’s 2009 stimulus package saved or created between 1.3 million and 3.6 million
jobs. HIS/Global Insight estimates the
stimulus created/saved 2.45 million jobs.
Macroeconomics Advisors says 2.3 million jobs saved or created and Moody’s
Economy.com says President Obama’s stimulus bill saved or created 2.5 million
jobs. Anyone can search the Bureau of
Labor Statistics to see the charts that clearly show that unemployment
drastically increased under President Bush and has gradually decreased since
President Obama took office. When
Republicans claim that Obama’s stimulus package did not create a single job,
they are clearly lying.
Republican concern for small businesses is touching, but
I wonder if they are aware that President Obama has created 16 tax cuts for
small businesses and has included many more advantages and incentives to small business under his new
jobs plan. We understand that
Republicans despise government regulations of any kind on any business,
however, regulations on the auto industry (like rear view mirror standards,
seat belt regulations, etc.) save lives, which,
in my liberal opinion, is priceless.
Regulations on the banking industry is necessary, as we have just
learned the hard way; and regulations on oil, coal and other pollution causing
corporate activities is essential to the health of our children and our
planet. Republicans want no protections
for the American people at all. This
“survival of the fittest” ideology seems a bit hypocritical coming from the
Thanks to the Bush tax cuts in
2001 and 2003, and an Obama tax cut for the middle class in 2009, our taxes are
the lowest they have been since the 1950s.
So where are the jobs that the wealthy “job creators” are supposed to
have created? The right wing
trickle-down economics (voodoo economics, according to President Bush I) does
not work. It has never worked and will never work. It is demand for goods and services that
creates profit, and it is the working class American who creates demand. Without jobs, the working class cannot create
demand. If corporations do not use their
profits to manufacture goods or create jobs, then the entire economy suffers. Banks, investment firms and corporations are
sitting on their record profits, rather than reinvesting into our economy.
So, I respectfully disagree with
Republican/Tea Party assertion that we cannot tax, borrow and spend our way to
job creation. We need the super
wealthy to pay their fair share in taxes
and stop stuffing their billions into foreign banks and investments; we may need to continue to borrow until our
economy is back on its feet and we definitely need to spend, in order to create
If congressional Republicans
continue to obstruct every effort that President Obama attempts to improve
unemployment figures, they will find themselves back in the minority in 2012.