from Glenn Kessler at the WaPo FactChecker:
http://www.washingtonpost.com/blogs/fact-checker/post/grover-norquist-a-misleading-accounting-of-recent-history/2011/11/27/gIQAAhER2N_blog.html“Raising taxes slows the economy. Raising taxes kills jobs. Government spending does not create jobs. The idea that if you take a dollar out of the economy from somebody who earned it, either through debt or through taxes, and give it to somebody who is politically connected, that there are more dollars around? That if you stand on one side of the lake and put a bucket into the lake and walk around to the other side in front of the TV cameras, pour the bucket back into the lake and announce you’re stimulating the lake to great depths. We just wasted $800 billion on stimulus spending that added to debt that killed jobs. There are fewer jobs than before.”— 'Anti-tax advocate' Grover Norquist, on “Meet the Press,” Nov. 27, 2011
In 1982, the Democrats said, ‘Gee, if you let us raise taxes, we’ll cut spending $3 for every $1 of tax increase.’ Taxes were raised. Spending didn’t go down, spending went up. The same thing happened in 1990, although George Bush -- Herbert Walker Bush -- was promised $2 in phony spending cuts for every dollar of tax increase. Taxes went up, spending actually increased. It wasn’t cut. Twice the Democrats have said let’s raise taxes and cut spending; twice taxes were increased, spending was not reduced at all.”— Norquist, later in the same program
The Facts . . . let’s examine Norquist’s claim that “we just wasted $800 billion on stimulus spending that added to debt that killed jobs. There are fewer jobs than before.”
First of all, Norquist appears to have forgotten that, depending on how you do the math, the stimulus bill included between $218 billion and $288 billion in tax cuts. Norquist is a huge fan of marginal rate reductions so perhaps he does not consider items such as the “Making Work Pay” tax credit to be a true tax cut. But it is simply incorrect to refer to “$800 billion of stimulus spending.”
When the stimulus bill was passed in February 2009, there were 132.8 million jobs in the United States, according to the Bureau of Labor Statistics, and as of last month, there are 131.5 million jobs. But that assumes the full force of the stimulus took effect immediately, which is absurd. The recession had not ended yet and job losses continued for several months before the stimulus kicked in.
While different studies disagree on the impact of the stimulus, most conclude it had some impact.— and none say it “killed jobs.” The nonpartisan Congressional Budget Office estimated that it “increased the number of people employed by between 1.4 million and 3.3 million.”
The Pinocchio Test
Norquist has every right to his opinions on the dangers of excessive government spending and taxation, but he needs to come up with a better set of facts to make his case. His description of recent budgetary history bears little relation to the historical record. His comment on the stimulus bill was also highly misleading.
read more: www.washingtonpost.com/blogs/fact-checker/post/grover-norquist-a-misleading-accounting-of-recent-history/2011/11/27/gIQAAhER2N_blog.html