Click For Photo: https://cdn.cnsnews.com/george_h._w._bush_george_w._bush_and_wives_photo_by_dennis_brack-pool-getty_images_0.jpg
I’m not a fan of President Bush – the first one or the second one.
Both adopted policies that, on net, reduced economic liberty.
Today - George - HW - Bush - Aka
Today, let’s focus on the recently deceased George H.W. Bush (a.k.a., Bush 41). By all accounts, he was a very good man, but that doesn’t mean he was a very good president – or even a mildly good one.
Steve Moore’s column in the Washington Times is a damning indictment of his infamous read-my-lips tax betrayal.
Liberals - George - HW - Bush - Tax
“Liberals love George H.W. Bush for the very tax increase betrayal that destroyed his presidency. … This was not just the political blunder of the half-century, it was a fiscal policy catastrophe. …What the history books are writing is that Mr. Bush showed political ‘courage’ in breaking his “Read my lips: No new taxes” pledge, and he was thrown out of office for doing the right thing. Wrong. The quick story is that the Reagan expansion — in no small part due to the reduction of the highest tax rates from 70 percent to 28 percent — was shrinking deficit spending dramatically by the end of Ronald Reagan’s presidency. The budget deficit had fallen in half down to 2.9 percent of GDP by 1988. It was headed to below 2 percent if Mr. Bush simply had did nothing. … the 1990 budget deal became a license for Democrats to spend and spend. … Government expenditures accelerated at a faster pace than at any time in 30 years. In two years time, the domestic budget grew by almost 20 percent above inflation. … The tax increases either caused the recession or exacerbated it — ending the Reagan expansion. The economy lost 100,000 jobs and the unemployment rate rose and the unemployment rate rose from 5.5 percent to 7.4 percent. Real disposable income fell from 1990...
Wake Up To Breaking News!