U.S. has a new Bush and a new recession
According to the national news, the national unemployment rate is up to 5.8 percent. In the past 10 years we have had eight years of record-breaking prosperity and low unemployment under a Democratic administration bracketed by two recessions under the Bushes. In the early 1990s we had Daddy Bush’s recession, and now we have Baby Bush’s recession. When Junior was appointed president by the Republican majority on the Supreme Court just a year ago, the country had a record budget surplus and low unemployment. Today we face huge budget deficits again, and every month the unemployment rate goes higher.
The Republicans are gearing up to try to bamboozle the nation into believing that the deficit is due to Bush’s war on terror, but in truth the entire budget surplus was squandered by Republicans well before Sept. 11. They spent the entire surplus on huge tax reductions, the vast majority of which went to the wealthiest 1 percent of Americans, leaving nothing in the treasury to cope with an emergency like Sept. 11, much less to pay for making Social Security secure, prescription drugs for the elderly or improving education.
Bush’s proposed solution for the recession and unemployment he and the Republicans in Congress created? Why – big surprise – new gigantic tax cuts for wealthy corporations. In fact, Republicans propose that we not only cut corporate taxes, but that we refund all the alternative minimum taxes these corporations paid (instead of no taxes whatever) for the past five years!
As for Democratic proposals to help those unemployed as a result of Bush Recession II, the response is typically Republican: “Don’t be silly! They’d just spend anything we gave them on food, clothing, rent or mortgage payments. And they probably wouldn’t send a cent of it to the Republican National Committee, so why should we help them?”
Ask yourself if you are feeling more secure today, financially and/or physically, than you were the day Bush was appointed president. Ask yourself if the country is in better condition today. Ask whether you are as optimistic as you were a year ago. Gee, thanks, George!
Richard Van Steenkiste
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