http://www.laborradio.org/node/8081By Jesse Russell
As recently as late February President George W. Bush has been saying that he doesn’t believe the economy is slipping into a recession:
: I Don’t think we’re headed toward a recession, but no question that we’re in a slow down.
When it comes to those vying for the position currently held by Bush, he pretty much stands alone. Democratic Presidential contenders Senators Barack Obama and Hillary Clinton have made it very clear on the campaign trail and in debates that they believe that the economy is on a downward slope toward a recession. And on Friday, Republican Presidential nominee Senator John McCain joined the chorus at a townhall in Atlanta:
: I would say that…oh…it’s very likely and more and more economists are saying that we are probably – quote – in a recession.
The comments by the Arizona Senator come in stark contrast to remarks he made during a FOX News Presidential debate on January 10, 2008. At that point in time he downplayed any talk of sliding into a recession:
: I don’t believe we are headed into a recession. I believe the fundamentals of this economy are strong and I believe they will remain strong. This is a rough patch, but I believe America’s greatness remains ahead of us.
McCain has said he will preserve Bush’s tax cuts for the wealthiest Americans, even though he originally voted against them. Clinton and Obama have both foisted part of the blame for the stalling economy on those tax cuts and Obama has tied McCain to Bush on the trail.
: George Bush handed out billions of dollars to tax breaks to the wealthy few over the course of seven and a half years and John McCain promises to make some of those tax cuts permanent.
Both Clinton and Obama have said they will repeal the tax cuts.
: We will go back to the tax rates we had before George Bush became President and my memory is that people did really well during that time period….
: …that’s right…
: …and they will continue doing very well.