re: #50 Stanley Sea

Re: the blame it on Bush

Here’s your tu quoque for the day

[Link: andrewsullivan.theatlantic.com…]

I recommend that everyone read the whole thing:

nationalcenter.org

This time, however, things are different. We have an economic program in place completely different from the artificial quick-fixes of the past. It calls for a reduction of the rate of increase in Government spending, and already that rate has been cut n early in half. But reduced spending alone isn’t enough. We’ve just implemented the first and smallest phase of a three-year tax-rate reduction designed to stimulate the economy and create jobs.

Already interest rates are down to 15 3/4 percent, but they must still go lower. Inflation is down from 12.4 percent to 8.9, and for the month of December it was running at an annualized rate of 5.2 percent.

If we had not acted as we did, things would be far worse for all Americans than they are today. Inflation inflation, taxes and interest rates would all be higher.

A year ago, Americans’ faith in their governmental process was steadily declining. Six out of ten Americans were saying they were pessimistic about their future.

A new kind of defeatism was heard. Some said our domestic problems were uncontrollable that we had to learn to live with the-seemingly endless cycle of high inflation and high unemployment.

There were also pessimistic predictions about the relationship between our Administration and this Congress. It was said we could never work together. Well, those predictions were wrong. The record is clear, and I believe that history will remember this as an era of American renewal, remember this Administration as an Administration of change and remember this Congress as a Congress of destiny.

Together, we not only cut the increase in Government spending nearly in half, we brought about the largest tax reductions and the most sweeping changes in our tax structure since the beginning of this century. And because we indexed future taxes to the r ate of inflation, we took away Government’s built-in profit on inflation and its hidden incentive to grow larger at the expense of American workers.