Bush supporters credit the President with cutting taxes (and, mumble mumble, boosting spending) in order to stimulate economic growth and dig us out of recession. “Works every time!” they say.From Midtopia: Debt and stimulus
Well, duh. Borrowing $1.9 trillion and injecting it into the economy should certainly provide some stimulus. The real question is: does the extra economic growth justify the debt incurred? How long will it take to pay that debt?
BTW, while the right seems to be devote followers of the Cult of the GDP, there are two really bad pieces of news that should illustrate the damage of the Bush economic policies.
So yes, the GDP is growing. And yes, the unemployment level is low. But if those two figures are the key to economic growth, then why are so many other indicators so poor? More and more it looks like the GOP is converting this country from an opportunity economy; where wealth can be built through hard work into a trust fund economy where the state secures the wealth of the chosen few.