The Myths and Harsh Effects of Bush's Economic Class War

[laststeamtrain]

The Myths and Harsh Effects of Bush's Economic Class War
By Larry Beinhart, AlterNet
Posted on April 28, 2008, Printed on April 28, 2008
http://www.alternet.org/story/83449/

George Bush came into office. There was a recession almost immediately. Officially it began in March of 2001 and, officially, it ended eight months later.

The causes of that recession are vague and amorphous, generally credited to the "business cycle."

There is, in addition, a minor Republican industry dedicated to back-dating the onset by five months, to November, 2000, in order to make it a Clinton recession. Or, to inadvertently to say that the very election of George Bush screwed up the economy, he didn't even have to come to power.

Bush came in with a plan for tax cuts. Originally, that was based on the government having a surplus and it was packaged as giving people their own money back. When the surplus disappeared, due to the recession and the tax cuts, he kept pushing the tax cuts as a jobs and stimulus package. The economy went into "recovery" by 2003.

The administration claimed that the recovery was due to the tax cuts. It was an odd and rather limp recovery. Indeed, it was a mysterious one and the mystery was that the US was still losing jobs. This was considered inexplicable.

The administration claimed that the weakness in the economy was due to 9/11 and being in a war. The very same people who used that story would have been the first to say that Roosevelt and the New Deal did not bring the US out of the depression, it was World War II that did it. Historically, wars have produced booms. But their war was somehow different.

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http://www.alternet.org/workplace/83449/

[chknltl]

1. Thank you. KnR

[Sherman A1]

2. Excellent!

The piece sums things up rather well.

[Skittles]

3. repukes constantly claim bush "inherited a recession"

LYING BASTARDS

[mrdmk]

4. Bush did not inherit anything

he was born into and stole the rest.

[formercia]

5. The War economy is propping up Junior's administration

but you can't borrow forever to pay for goods expended in War that have little recoverable value.

Sure, people who have defense related jobs make good money, but we would be better off spending that money on good paying construction jobs to rebuild infrastructure that has real value for everyone in the Country.

[Froward69]

6. When rethugs claim

the depression ended SOLELY because of WWII. I say YES (not because I fully agree) but only to point out that was because EVERYONE was, in one way or another, on the government payroll. Then I thank them for pointing out How socialist they actually are. The argument then ends. I then point out that Social security Indeed was a godsend to free up resources to bolster a growing peaceful economy.
then ease them into the reality of WWII aiding in ending the depression, not singularly ending it.

Rethugs have no answer. As I just pointed out how in fact, they themselves espouse Socialism.

Damn it feels good pointing out how twisted up their rhetorical propaganda really is. Rewriting history does not work as it is so easy to dispel.