It won’t work because it has been tried before and has never, repeat NEVER worked. Not once. (If you think you can argue the point, please submit a peer-reviewed economic paper showing where Supply-Side has actually worked for more than a year or so before it came crashing down. Pardon us for not holding our breath.) All the Romney/Ryan plan boils down is to Bush The Dumber’s plan, minus the compassion. And the Shrub’s Economic record was a cluster-f***ing train-wreck of thermonuclear proportions.
As we did yesterday, here are some actual numbers from the Feds and Wall Street to back Mr. Blunt and Cranky’s thesis statement (oh, and Congress changed control a number of times during the past 20 years, so don’t try blaming one party or the other over there):
Date:
|
Day One of Bubba
1/20/1993
|
Day One of Dubya 1/20/2001
|
Inauguration Day (End of Dubya’s Reign) 1/20/2009
|
Today (3 + Years of Obama) 9/5/2012
|
Unemployment Rate
|
7.3%
|
4.2%
|
7.8 % (rising)
|
8.3 % (fluctuating, down from 10.0 % in 2009)
|
Dow Jones
|
3,241.95
|
10,578.24
|
7,949.09
|
13,045.46
|
Nasdaq
|
697.44
|
2757.91
|
1440.86
|
3069.27
|
Stanford & Poor’s
|
433.37
|
1432.90
|
805.22
|
1403.45
|
Inflation Rate
|
2.7%
|
1.6%
|
0.1 %
|
1.4%
|
National Debt
|
$4.1 Trillion
|
$5.7 trillion
|
$10.6 Trillion
|
$15.9 Trillion
|
Budget Deficit
|
$255 Billion (4.4% of GDP)
|
-$128 Billion (3.0% of GDP) (IOW, a Surplus)
|
$1.2 Trillion (8.3 % of GDP)
|
$1.1 Trillion (7.6 % of GDP)
|
Job Expansion/
Contraction
|
63,000 added in 1/94 (Earliest available from BLS)
|
268,000 added in 1/2001
|
527,000 Jobs lost from 1/1/09 to 1/20/09
|
163,000 Jobs added in 6/12 (latest figures available from BLS)
|
Please note that during Bubba’s time in office, things got better – Hell, even the national debt slowed its growth. That is because practicality trumped ideology. The Reagan/Bush The Smarter years were ideological, yes, but at least tempered with reality-based thinking and actions, so Clinton did not have as big of a mess to clean up. But clean it up he did, along with the adults in the Legislative Branch who managed to keep the ideologues in check part of the time.
Then along came Bush The Dumber. All ideology and whack-a-doodle theories, all the time, nary a pragmatist in the White House to utter a discouraging word. The result: each and every economic indicator went to Hell in a handbasket, and we are still trying to dig our way out of the resulting crisis that the Shrub and his crew of Supply-Siders caused.
Now we have Obama. Not this writer’s fave Prexy, but he’s done a darned good job of crisis management and even started addressing some of the underlying causes of the Bush Economic Collapse. His plan is to keep doing what has been proven to work, and do it for another four years. Kind of hard to argue with success, innit?
So, here’s the choice: Pick one or the other, there is no third option:
Number A: Romney, doing what has always failed before.
Letter 2: Obama, doing what always works.
(Hint: If you pick A, then you really ARE a stupid f***.)
Mr. B & C