The GDP rose, probably because of the tax cuts.
Tax cuts generating more revenue is as difficult for the Liberal to get their heads around as it is for them to see that raising the minimum wage puts teenagers out of the job market and lessens job availability. Of course you could fix all that by forcing the people who run the businesses, by passing laws. Socialism, if not Communism. And that redistributes poverty.
In recent American history three presidents, Republicans Ronald Reagan and George W. Bush—and Democrat icon John Fitzgerald Kennedy—all lowered taxes in response to economic recessions. In all three cases, more money flowed into federal coffers than expected, and all three recessions ended.
In 2003, President Bush lowered income, capital gains and dividend tax rates. As a result of the Bush tax cuts, the amount of revenue flowing into the federal Treasury over the next four years surged by over 40%, or $743 billion. To illustrate how the tax cuts boosted the economy, Gross Domestic Product grew at an annual...
The Republicans will rise again next election because the Democrats are desperate to stimulate an economy which is STILL overextended, in order ot have good economic news for the next election, which only prolongs the recession by not letting it bottom out. Things can't get better until the economic adjustment has run its...