Wednesday, June 11, 2008

It's the Economy, Stupid !!

The maligned Bush administration can brag, and rightly so, about the economic growth, job creation and affordable oil prices produced for six years under a Republican Congress. Since the Democrats have gained control of both Houses of Congress, economic turmoil and oil shortages have loomed. While it is convenient for the, now empowered, Democrats to blame the president, I have seen no legislation from the Congress intent on improving the energy shortage, jobless rate or the slow economic growth.

Despite all of President Bush’s shortcomings, he has championed policies consistent with economic growth and he has had strong results. The U.S. economic growth and jobless rate under President Bush have been the best of all major industrialized nations, dwarfing the growth and job creation of the European Union and Japan.

What we can expect from a Democratic Congress and, potentially, a Democratic President next year are polices geared toward high taxes and wealth redistribution, which are certain to produce anemic growth and job creation. They will saddle the economy, already burdened with Medicare, social security and other entitlements, with an increased burden of new social programs including universal health care.

Ronald Reagan’s policies of low taxes created strong economic growth and job creation for twenty-five years. It has been proven that tax reductions in all tax brackets produce the best returns for the economy. We need to lower taxes, reduce spending and unburden the economy in order to ensure economic prosperity for us and for our children.

Submitted by D. B. Jackson

No comments: