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Saturday, September 22, 2007
Bush: The Economy slacker
By VictorM: During his most recent press conference -- an embarrassing affair on so many levels -- the worst president in the United States history said, in response to a question about the risk of an economy recession that "You know, you need to talk to economists. I think I got a B in Econ 101. I got an A, however, in keeping taxes low and being fiscally responsible with the people’s money."Not to be too picky, but Michael Roston takes a look back at Bush’s college transcripts. Bush received grades of 71 and 72 in Economics — a grade that “would correspond with a C-” not a B.
But more importantly, Bush’s tax cuts have
“been the single largest contributor to the reemergence of substantial budget deficits.” “Between 2001 and 2006, the passage of the Bush tax cuts without the offsetting savings have cost $1.2 trillion in lost revenues, or more than 80 percent of the cumulative deficit during this period.”
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