A worthless prescription for jobsThis is such bullshit that I don't know where to begin. But here are a few points to consider.
When it comes to jobs, House Minority Whip Eric Cantor has nothing to offer but stale remedies and hypocrisy.
Last week, the Virginia representative released a list of seven ways to boost job creation without spending federal money.
What's the plan? It will sound familiar: Freeze federal spending. Cut taxes. Reduce or eliminate regulation. Approve free trade agreements. Allow more domestic drilling and other energy production.
That's it. The same "plan" Republicans have been calling for since there have been Republicans. The same "plan" they mostly implemented during the Bush presidency.
The same "plan," in other words, that helped get us to 10 percent unemployment in the first place. [link]
"The same 'plan' they mostly implemented during the Bush presidency."
1) In his eight years in office, Bush added $632,000,000 to the federal budget.
According to the Times Bush froze federal spending. In light of that statistic, when in the Bush presidency was a freeze implemented - at all or "mostly"?
2) The Times wants you to believe that Bush did his darnedest to "reduce or eliminate regulation." But here's a fact:
"In number of pages, the Code of Federal Regulations (CFR), ... with the 2007 edition totaling 145,816 pages, was more than 4,500 pages longer than in 2001, when Bush took office, and almost 8,000 pages longer than in 2000."
He "reduce[d] or eliminate[d] regulation"? I'm searching for which one.
3) The Times: "Approve free trade agreements." If you consider NAFTA and the renegotiation of GATT to be the most sweeping and influential trade agreements to have ever been developed, and if you understand that they were both negotiated by a Democratic president - Bill Clinton - and approved by a Democratically controlled Senate, when in the Bush presidency was either implemented - at all or "mostly"?
4) "Allow more domestic drilling." This chart of domestic production speaks for itself:
Click on the image to enlarge it.
When in the Bush presidency was more drilling implemented?
5) "Allow ... other energy production." What does that even mean? Nuclear? Don't make me laugh. Solar? Wind? Aren't these the jokers who have been in favor of alternative energy sources?
6) They did get one right: Bush "cut taxes." About which the Heritage Foundation has this:
Heck, all those are just facts though. Why let them get in the way of a mindless, baseless, juvenile, mythical screed?Ten Myths About the Bush Tax Cuts—and the FactsMyth #1: Tax revenues remain low.
Fact: Tax revenues are above the historical average, even after the tax cuts.
Myth #2: The Bush tax cuts substantially reduced 2006 revenues and expanded the budget deficit.
Fact: Nearly all of the 2006 budget deficit resulted from additional spending above the baseline.
Myth #3: Supply-side economics assumes that all tax cuts immediately pay for themselves.
Fact: It assumes replenishment of some but not necessarily all lost revenues.
Myth #4: Capital gains tax cuts do not pay for themselves.
Fact: Capital gains tax revenues doubled following the 2003 tax cut.
Myth #5: The Bush tax cuts are to blame for the projected long-term budget deficits.
Fact: Projections show that entitlement costs will dwarf the projected large revenue increases.
Myth #6: Raising tax rates is the best way to raise revenue.
Fact: Tax revenues correlate with economic growth, not tax rates.
Myth #7: Reversing the upper-income tax cuts would raise substantial revenues.
Fact: The low-income tax cuts reduced revenues the most.
Myth #8: Tax cuts help the economy by "putting money in people's pockets."
Fact: Pro-growth tax cuts support incentives for productive behavior.
Myth #9: The Bush tax cuts have not helped the economy.
Fact: The economy responded strongly to the 2003 tax cuts.
Myth #10: The Bush tax cuts were tilted toward the rich.
Fact: The rich are now shouldering even more of the income tax burden.
One more thing: Bush can be blamed for a rising unemployment rate to be sure. But from 2002 to 2009 (the Bush years) unemployment increased 1.1%. And from 2002 to 2008 it rose exactly 0.0%. Look it up.
In the Obama
"The same 'plan,' in other words, that helped get us to 10 percent unemployment." Propaganda. Feckless propaganda.