Re: Clinton created more jobs per month with a tax increase then Bush and his pretend years (since 2003)


"Jack Linthicum" <jacklinthicum@xxxxxxxxxxxxx> wrote in message
news:1191711540.922889.125720@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Just to annoyannoy everyone as I leave for a week, did you know that
Bush has been very lax in creating jobs? Did you also know that
despite very high Dow numbers the Unitred States is inches away from a
recession? Won't that be jolly for the Republicans next year, running
with a whole series of scandals and a lot of people out of work.

Well, Bush has had his hands tied running a war, Silly ! ... ;)



Exhibit #1

Fact ***: September 2007 Marks Record 49th Consecutive Month of Job
Growth
More Than 8.1 Million Jobs Created Since August 2003 In Longest
Continuous Months Of Job Growth On Record


RSS Feed White House News

Fact *** President Bush Discusses the Economy and on Protecting
Americans From Terrorism

"[L]ast month our economy added 110,000 new jobs. And that's good news
for people here in our country. It's an indicator that this economy is
a vibrant and strong economy. ... If you want this economy to continue
to grow, and if you want to reinforce the fact that ... entrepreneurship
is strong and people are working, don't raise taxes. And I'm looking
forward to working with the Congress to set priorities on how we spend
the people's money, but I also am going to make it very clear to
people in Congress that we're not going to raise their taxes on the
working people."

- President George W. Bush, 10/5/07

Today, the Bureau of Labor Statistics released new jobs figures -
110,000 jobs created in September. September 2007 is the 49th
consecutive month of job growth, setting a new record for the longest
uninterrupted expansion of the U.S. labor market. Significant upward
revisions to employment in July and August mean employment growth has
averaged 97,000 per month over the last three months. Since August
2003, our economy has created more than 8.1 million jobs, and the
unemployment rate remains low at 4.7 percent.

The U.S. Economy Is Growing And Dynamic

* Real after-tax per capita personal income has increased by over
12.5 percent - an average of over $3,750 per person - since President
Bush took office. More than 30 percent of the Nation's net worth has
been added since the President's 2003 tax cuts.


* Real wages have grown 2.2 percent over the 12 months that ended
in August. This is much higher than the average growth rate during the
1990s, and it means an extra $1,266 in the past year for a family with
two average wage earners.


* Exports have increased by over 14.8 percent in the 12 months
that ended in July. This has resulted in an $8.3 billion reduction in
the trade deficit.


* Real GDP grew at a strong 3.8 percent annual rate in the second
quarter of 2007. The economy has now experienced nearly six years of
uninterrupted growth, averaging 2.7 percent a year since the
turnaround in 2001.

The President's Budget Request Would Maintain Economic Growth By
Meeting Priorities Without Raising Taxes

Congressional leaders have proposed spending increases of $205 billion
over the next five years on top of the President's budget request.
They want to pay for these spending increases by raising taxes on the
American people. At a time when many families are dealing with rising
mortgage rates, college costs, and health care expenses, it is wrong
to take more money out of their paychecks.

* If Congress lets the President's tax cuts expire, on average it
would increase taxes by more than $1,800 for a family of four making
$60,000 dollars a year. Small business owners would see their taxes go
up by almost $4,000, and families with children would pay an
additional $500 per child.

o Members of Congress are also proposing higher taxes on
dividends and capital gains, cigars and cigarettes, domestic oil and
natural gas production, and stock and bond transactions.


* The President will veto appropriations bills that would return
our Nation to the tax-and-spend policies of the past. The President's
FY 2008 budget lays out a plan to continue deficit reduction while
keeping taxes low, leading to a surplus in 2012.

The President calls on Members of Congress to stop playing politics
with SCHIP and work with him on a responsible bill that he can sign.
This week, President Bush vetoed Congress' SCHIP bill, which would
move millions of children who now have private health insurance onto
government coverage. The President supports SCHIP, and he hopes
Members of Congress will now work with him to find common ground on a
bill that returns the program to its original purpose of targeting
dollars to poor children who need coverage the most.

* Congressional leaders' plan for SCHIP would raise government
spending by $35 billion over 5 years. The plan would raise taxes on
hard-working Americans to expand SCHIP to cover children in some
households with incomes of up to $83,000 a year, as well as some
adults.


* Our goal should be to move children who have no health insurance
to private coverage - not to move children who already have private
health insurance to government coverage. Under Congress' plan, one out
of every three of the additional children moving onto government
coverage would be moving from private insurance.

The Administration has moved forward within its statutory and
regulatory authorities on steps to help struggling homeowners avoid
foreclosure. For example, last month, the Administration launched a
new Federal Housing Administration (FHA) initiative called
"FHASecure," which will bring the total number of families FHA
projects to help refinance next year to approximately 240,000.
President Bush calls on Congress to help an estimated additional
200,000 families avoid problems with their mortgages by passing FHA
modernization legislation.

Exhibit #2 The rebuttal

October 5, 2007, 8:11 pm
Pathetic

The new White House "fact ***" on the economy declares that job
growth since August 2003 is the "longest continuous months of job
growth on record."

That's literally true - the Bureau of Labor Statistics data from the
great jobs boom of the 1990s do show a couple of scattered months of
job decline, although these are probably statistical blips. But by any
reasonable standard, job growth in the Bush years has fallen way short
of growth in the Clinton years.

All the data are available at the BLS web site.

Over the whole of the Clinton administration, the economy added 22.7
million jobs - 237,000 per month.

Over the whole of the Bush administration to date, the economy added
only 5.8 million jobs - 72,000 per month.

The Bushies like to pretend that history began in August 2003, so that
they can ignore the job losses early in the administration. But even
that doesn't do the trick. Since August 2003, the economy has added
8.5 million jobs - 172,000 per month. So even by cherry-picking the
good Bush years and pretending the bad years never happened, they
still can't match the average rate of job creation under Clinton.

Now, you might say that Clinton doesn't deserve all the credit for
good things that happened on his watch - and I agree. But it's the
Bushies who are trying to spin a mediocre job record into proof that
their policies are wonderful.

Did I mention that the Clinton job boom followed an, um, increase in
taxes?



You're such a tease, Jack ... ;) Have a good time - look forward to seeing
you back in these parts in a week.

- nil


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