GOP Economic Policies Produce More Good News on Budget, Economy
DEMS’ TAX & SPEND PROPOSALS PUT THEM AT ODDS WITH AMERICAN TAXPAYERS
Washington,
Oct 12 -
“Democrats have not been shy about their plans to raise taxes, and they’ve recklessly opposed every effort to restrain spending even as they offered more than $45 billion in new wasteful spending of their own. The Democrats’ record on taxes and spending puts them squarely at odds with the interests of American taxpayers. Republicans’ efforts on job creation, tax relief, and fiscal responsibility continue to pay dividends for America’s working families.” – House Majority Leader John Boehner (R-OH) |
President Bush’s announcement yesterday on the budget confirmed that GOP pro-growth policies are working as planned to spur economic growth and reduce the deficit – achieving the President’s goal of cutting the deficit in half three years ahead of schedule. USA Today reports on the good news:
“The reduction in red ink for the fiscal year that ended on Sept. 30, caused by a second consecutive year of soaring tax revenue, is the latest in a series of positive economic signs. It comes on top of a record-high stock market and tumbling gas prices.”
Yesterday, the Office of Management & Budget (OMB) lowered its deficit forecast to $248 billion, well below the $423 billion estimate at the beginning of the fiscal year and less than half of that projection of $521 billion in February 2004. It demonstrates that Republicans’ economic policies if keeping taxes low, exercising spending restraint, and growing our economy in order to drive down the budget deficit are working on behalf of American families and small businesses.
But Capitol Hill Democrats have different ideas. Rep. Charlie Rangel (D-NY) – the Democrats’ point man on tax policy – has already said there’s “no question” that Democrats will make Americans dig deeper into their wallets and pay more taxes, saying “everything has to be on the table.” A Wall Street Journal today editorial explains:
“Democrats who continue to moan about the deficit are really saying that the government should take an even larger tax bite from the economy than its currently hefty 18.4%; in other words, they want to raise taxes.”
President Bush also noted the Democrats’ hypocrisy on taxes earlier this week. According to the AP:
“Bush singled out the voting record of House Democratic leader Nancy Pelosi to ridicule her declaration that Democrats ‘love tax cuts.’ The president said Pelosi … voted against reducing the so-called marriage penalty, phasing out the inheritance tax and cutting taxes for small businesses and families with children.”
“‘Given her record, she must be a secret admirer’ of tax cuts, Bush said of Pelosi, earning appreciative laughs from the friendly audience of GOP donors. ‘If this is Democrats' idea of love, I wouldn't want to see what hate looks like. ’”
“‘The Democrats' approach to cutting the deficit is taking more of your money to pay for their spending,’ he said. ‘The Republican approach is to restrain spending.’”
There is a clear difference between Democrats who are addicted to tax hikes as a means to fund more government and Republicans whose stewardship of the economy has resulted in 6.6 million new jobs since August 2003, 37 consecutive months of job creation, strong growth in workers’ wages, and a low 4.6 percent unemployment rate.
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